USDA offers home loans in Dodge City

KSN News (file)
KSN News

DODGE CITY, Kansas — Megan Estrada was welcomed into her new home Friday. Estrada is the first Dodge City resident to utilize USDA’s Guaranteed Rural Housing Loan program since the city became eligible as a result of the 2014 Farm Bill.

Estrada has been living in an apartment with her three children for the past six years. She wanted a home where her children could play in the back yard.

According to Director Kent Colwell, USDA Rural Development Single Family Housing, “Financing from the federal government provides rural residents and rural communities with the basic needs of infrastructure, employment, healthcare and housing to provide opportunities for future generations.”

According to a statement issued Friday, the USDA reports that, “Since 2009, USDA Rural Development has helped more than 11,000 Kansas residents purchase a home. The Agency has funding available through the Guaranteed Rural Housing Program and the Single Family Housing Direct Home-Loan Program.

  • Guaranteed Rural Housing Program (GRH) provides a federal guarantee on home loans made by approved lenders to moderate income households in eligible rural areas. The loan provides qualified borrowers up to 100 percent financing on a 30-year fixed-rate loan.
  • Single Family Housing Direct Home-Loan Program (SFH) provides 100 percent financing on home loans to eligible rural residents, and the Agency is the lender. The program is available for low- and very-low-income residents.

According to Friday’s statement, to be eligible for a USDA housing loan, the applicant must have an acceptable credit history, meet income guidelines, have repayment capacity to service any existing obligations and the home loan payment, be without adequate housing, be a United States citizen or a non-citizen legally admitted for permanent residence, and have the ability to personally occupy the home on a permanent basis.

To see if your property and income meet the guidelines for a USDA home loan, visit USDA’s Property and Income Eligibility website at: http://eligibility.sc.egov.usda.gov/

For more information on USDA’s housing loan programs, contact the Hays Area Office at (785) 628-3081, Ext. 4. Information is also available at www.rurdev.usda.gov/ks.

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