Housing Fair to aid potential homeowners

Rural Development area director Joseph Woody recently announced a Housing Fair along with Tennessee Opportunity Programs to help eligible families and individuals achieve the dream of homeownership in Warren, DeKalb and Cannon Counties. The Housing Fair will take place Thursday, March 20 from 5-6 p.m. at the East End Drive Church of Christ located at 229 East End Drive in McMinnville.

‘This is an opportunity for anyone interested to receive one-on-one help completing the application process for a home loan or a loan to make needed safety repairs or accessibility improvements to a home they already own,’ Woody said. ‘We look forward to helping more people in these counties achieve the ‘American Dream’ for themselves.’

Eligibility for Rural Development housing programs is based on family income and varies by county. For example, a four-person household living in Warren County with an adjusted household income up to $37,350 may qualify for a low interest home loan through Rural Development. Rural Development home loans are typically made for 33 years at a fixed interest rate, with a maximum loan amount of $136,000. Monthly payment assistance is also available for those who qualify.

Rural Development’s housing programs are designed to increase homeownership by assisting eligible families and individuals in purchasing or building a home in rural areas of Tennessee. Depending on an applicant’s income, interest can be as low as one percent. Loans may be made without a down payment, and eligible applicants may qualify for loan financing up to 100 percent of the appraised value.

USDA Rural Development is committed to the future of rural communities in Tennessee by providing financial and technical assistance through housing, community and business development programs. In fiscal year 2007 Rural Development assisted more than 600,000 Tennessee families and businesses with more than $308 million in financial assistance through loans and grants. For more information on homeownership or business development programs available in Warren, Cannon and DeKalb Counties contact the Rural Development area office in Cookeville at (931) 528-6539 ext. 112, or call toll free at (800) 342-3149 ext. 1493. Information is also available online at www.rurdev.usda.gov.tn.