Transcript USDA Rural Development - Pennsylvania Downtown Center

Rural Housing Services:
Community Facilities and Single Family Housing
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USDA Rural Development finances
facilities essential to the quality of life
in any rural community
We offer loans, guaranteed loans, and
grants to develop facilities in rural
areas and towns of up to 20,000 in
population
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Funds can be used to:
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Construct;
Enlarge;
Purchase; or
Improve community facilities.
This can include costs to acquire land needed
for a facility, pay necessary professional fees,
and purchase equipment required for its
operation
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Examples of Essential Community Facilities:
◦ HEALTH CARE – Clinics, ambulatory care centers,
hospitals, rehabilitation centers, nursing homes
◦ EDUCATION – Schools, school buses, Headstart
centers, pre-schools, child care centers, college
classrooms and dormitories
◦ PUBLIC SAFETY – Communications centers, police
and fire stations, fire trucks, rescue vehicles, jails
◦ PUBLIC SERVICES – Adult day care centers, city halls,
courthouses, community centers, homeless
shelters, domestic abuse centers, food banks,
airports, garages, off-street parking, sidewalks,
street improvements, libraries, museums,
fairgrounds, animal shelters
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Who May Apply?
◦ Loans, grants, and guarantees are available to
public entities such as municipalities, counties, and
special-purpose districts, as well as to nonprofit
corporations and tribal governments
◦ In addition, applicants must have the legal authority
to borrow and repay loans, to pledge security for
loans, and to construct, operate, and maintain the
facilities
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Other information:
◦ Terms
◦ Interest Rate
◦ Grant Ratio
◦ Security
◦ Application Process
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DIRECT SINGLE FAMILY HOUSING LOANS
◦ The program offers home loans to lower income
individuals who are unable to obtain credit
elsewhere, with interest rates as low as 1% - and no
down payment
◦ Loans are made to dwellings located in eligible rural
areas (visit: www.rurdev.usda.gov)
◦ The standard term for a loan is 33 years for most
borrowers; however, it can be extended to 38 years
◦ Applications are made directly with a Rural
Development Area Office
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GUARANTEED RURAL HOUSING LOANS
◦ Loans are made to purchase new or existing singlefamily dwelling or to finance construction
◦ Closing costs & guarantee fees can also be financed
◦ 30 year term/fixed interest rate
◦ Up to 100% of appraised property value plus the
guarantee fee (2% of loan amount and .4% annual
maintenance fee)
◦ Applications are made directly with authorized
lenders
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HOME REPAIRS LOANS AND GRANTS
◦ The program allows income eligible rural homeowners
with very low income to repair or improve a home,
making it safe and sanitary, by removing health and
safety hazards
◦ Loans have a 1% interest rate, have a $20,000 limit, and
have a maximum term of 20 years
◦ Grants are available exclusively to rural senior aged 62
or older and have a $7,500 limit
◦ Funds cannot be used to assist in new construction or to
pay for off-site improvements
◦ Applications are made directly with a Rural Development
Area Office
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Visit the PA Website:
www.rurdev.usda.gov/PA
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Community Facilities Program Line:
(717) 237-2199
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Housing Program Line:
(717) 237-2186
Lilian Lipton, Loan Specialist
(717) 237-2285 or [email protected]