USDA Rural Development and The Hanover County Chapter of Habitat for Humanity are thinking outside of the box with their new partnership in Virginia. By working together, USDA Rural Development and Habitat for Humanity are able to provide mortgage assistance to low and very low-income rural families. Earlier this month, Agriculture Deputy Secretary Krysta Harden visited Bailey Woods, the first-ever Habitat Development in this area, as part of USDA’s celebration of National Homeownership Month.
Every year, rural families rely on USDA Rural Development’s direct and guaranteed home loans to provide an affordable opportunity to become homeowners. Bailey Woods will provide building lots for eight new houses and a renovation of one. These homes range from 1,500 to 1,700 square feet and feature many energy efficient features, such as ceiling fans, high insulation, and high efficiency heat pumps. These cost reducing systems will provide families in rural areas such as Hanover County the opportunity to purchase a home, while maintaining low operating costs.
Through 65 years of delivering housing assistance, USDA Rural Development has helped nearly 3.4 million rural homebuyers achieve the dream of home ownership. In 2013 alone, more than 170,000 rural residents became homeowners with the help of Rural Development’s direct loans, guaranteed loans, grants and technical assistance. In both people and dollars, 2013 was the most successful year on record in the history of USDA’s single-family housing programs.
As we celebrate National Homeownership Month, we hope that you will take a moment to celebrate the communities that we live and work in. USDA and Habitat for Humanity take pride in creating opportunities for rural families to find a place they can call home that also allows them to build their assets, increase their long-term financial security, and own their future.
For more information about these affordable housing programs please visit our website at http://www.rurdev.usda.gov/Home.html