LUMBERTON — USDA Rural Development recently announced that federal funding is available for low and very low income citizens in rural North Carolina.
USDA Rural Development offers direct and guaranteed single-family housing loans to eligible rural residents. Applicants may obtain 100 percent financing to purchase an existing dwelling, purchase a site and construct a dwelling or purchase newly constructed dwellings located in rural areas. Eligibility is based on household income, repayment ability, and credit history.
For information about the Single Family Housing Direct Loan programs in Robeson, Scotland, Bladen, Columbus, Cumberland and Hoke counties, contact the Lumberton area office at 910-739-3349, Ext. 4. The current interest rate is 3.75 percent and may be reduced to 1 percent for households qualifying for payment assistance.
The guaranteed loan program provides homeownership loans through approved lenders. Additional information on the USDA housing programs can be found at the agency website: www.rurdev.usda.gov/NCHousingPrograms.html
Further information on rural programs is available at a local USDA Rural Development office www.rurdev.usda.gov/nc or by visiting the USDA Rural Development website at www.rurdev.usda.gov/nc.