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USDA home loan program caseload changes location

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news Bemidji, 56619

Bemidji Minnesota P.O. Box 455 56619

Effective Jan. 1, USDA Rural Development will transfer its Direct Single-Family Housing home loan program caseload in Koochiching County from its Virginia area office to its Bemidji area office. The agency state in a news release that the change will help Rural Development provide better customer service and balance the rural population served by each office.

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Current or potential borrowers in Koochiching County may contact the Bemidji office at 751-1942, ext. 4, if they have any questions.

Rural Development offers a subsidized home loan program that allows very-low and low-income residents living in rural areas to buy their own homes. Applicants may purchase a new home, existing home or build a new home.

Payments are based on household income, and loans are made with a subsidy provision to make payments affordable.

Loans up to $20,000 with a one percent interest rate over 20 years are available to me home repairs or remove health and safety hazards. Grants of up to $7,500 are available to homeowners over the age of 62 to remove health and safety hazards.

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