RICHMOND, Va., June 3, 2024 – U.S. Department of Agriculture (USDA) Rural Development is kicking off Virginia’s celebration of National Homeownership Month by highlighting our 75-year history of helping thousands of people buy, build and repair homes in rural communities across the commonwealth.
Our comprehensive suite of programs has historically given people in rural America and on Tribal lands the opportunity to build wealth and equity as the foundation for a brighter future:
- Nearly 5 million families and individuals have achieved the dream of homeownership via USDA’s Single Family Housing Programs since 1949.
- Approximately 2.2 million families and individuals have purchased homes through USDA's Single Family Direct Home Loans since the program’s inception.
- Nearly 455,000 individuals and families have improved the quality of their homes through the Single Family Home Repair Loan and Grant Program since 1950.
- More than 56,000 families have helped build their own homes with help from USDA’s Mutual Self-Help Housing Technical Assistance Grant Program since 1966.
“The Biden-Harris Administration has invested more than $43 billion nationwide to help nearly 266,000 families and individuals in rural and Tribal communities buy, repair and build homes through Rural Development’s Single-Family Housing programs,” said Virginia State Director Perry Hickman. “In Virginia, we’ve obligated more than $2.1 billion in loans and grants since 2021and led the nation in fiscal year 2023 direct loans to very-low-income individuals and families.
Low interest rates, loan guarantees, reduced down payments and construction grants have become a vital resource for rural Americans who might otherwise be unable to access safe, decent and affordable housing. A Single Family Housing Direct Loan was literally a life saver for Mary Ann Forrester who needed to get her disabled son Eric out of a mold-infested rental home. The Virginia Housing Authority served as a loan packager to help her secure funding for a safer, healthier residence in Abingdon. Read her story.
Rural Development has also worked with nearly 250 organizations nationwide to help families and individuals lower the cost of purchasing a home by participating in its construction through the Mutual Self-Help Grant Program. The Virginia team will join our long-time partner Caroline Habitat for Humanity for a June 6 workday to help get new homes ready for a dedication ceremony at the end of the month.
Several resources are available for individuals who would like to take the first step in their homeownership journey. The Consumer Financial Protection Bureau’s Home Loan Toolkit includes some great references to increase readiness to apply for USDA programs once funding becomes available. These individuals may also review program eligibility requirements through USDA's Single Family Housing Self-Assessment site.
USDA Rural Development provides loans and grants to help expand economic opportunities, create jobs and improve quality of life for millions of Americans in rural areas. This assistance supports infrastructure improvements; business development; housing; community facilities such as schools, public safety and health care; and high-speed internet access in rural, tribal and high-poverty areas. Visit www.usda.gov to learn more and the Rural Data Gateway to see how and where these investments are impacting rural America.