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USDA Celebrates National Homeownership Month

Name
Nikki Gillespie
City
ST. PAUL
Release Date

Programs to Help People Buy, Build, Repair and Rent Homes in Rural, Tribal, and Underserved Communities

ST. PAUL, Minn., June 9, 2022 – Today, during the first full week of June, U.S. Department of Agriculture (USDA) Rural Development State Director for Minnesota Colleen Landkamer kicked off National Homeownership Month. As part of this nationwide celebration, USDA is highlighting programs that help people in rural, Tribal, and underserved areas buy, build and repair affordable homes and to pay their rent in America’s smallest towns and communities.

“Home is where we find rest and refuge at the end of the day,” Landkamer said. “Whether you own or rent, our home connects us to the community where we live. At Rural Development we recognize the important role home plays in peoples’ lives and the challenges many are facing with rising housing costs. Through Rural Development’s single and multifamily housing programs, we can help provide homeownership, home repair, and rental assistance opportunities to individuals and families so they have a safe and affordable place they can call home.”

Expanding opportunities for homeownership and rental assistance strengthens rural communities and helps families and individuals build wealth and achieve financial stability. This month, the Agency is highlighting the ways that USDA has invested $203 million to help more than 1,100 families and individuals in Minnesota’s rural and Tribal communities buy, repair and build homes through USDA Rural Development’s single family housing programs so far in fiscal year (FY) 2022.

In addition, USDA works to increase access to affordable multifamily rental housing opportunities in rural America. Rural Development is currently helping more than 6,100 tenants in Minnesota afford to pay their rent through various forms of rental assistance in FY 2022. This assistance ensures low-income and elderly tenants pay no more than 30% of their income in rent. For more information, visit Multifamily Housing Programs | Rural Development (usda.gov). For a listing of available rural rental properties in Minnesota that are eligible for USDA’s rental assistance and tenant voucher programs, visit http://rdmfhrentals.sc.egov.usda.gov/RDMFHRentals/select_state.jsp.  

USDA is also highlighting ways it is working with lenders and community partners to open the door to homeownership for rural Americans who have been unserved or underserved for far too long.

For example, here in Minnesota, USDA wouldn’t be able to assist as many families and individuals with affordable homeownership through the Single Family Housing Guaranteed Loan Program without the help of our private lending partnerships. So far in FY 2022, USDA has guaranteed the loans of 225 families and individuals – an investment of nearly $43 million from our top five lenders:

  • Cross Country Mortgage, LLC
  • Home Point Financial Corporation
  • Flagstar Bank
  • Fairway Independent Mortgage Corporation
  • Broker Solutions, Inc

USDA is hosting events across the nation to showcase affordable housing programs for lenders, community partners, families and individuals. USDA’s single-family housing programs are:

Visit the Single Family Housing program webpage or contact your local area office to speak with one of our area specialists and learn more about USDA homeownership programs near you.

Rural Development provides loans and grants to help expand economic opportunities, create jobs, and improve the 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. If you’d like to subscribe to USDA Minnesota Rural Development updates, visit our GovDelivery subscriber page

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