USDA Celebrates National Homeownership Month

USDA in Puerto Rico Observes Island-Wide Homeownership Month Emphasizes Initiatives to Enable Individuals to Purchase, Construct, Renovate, Residences in Rural, and Neglected Communities

SAN JUAN, June 17, 2024 – Maximiliano J. Trujillo-Ortega, USDA Rural Development Puerto Rico State Director, launched Island-Wide Homeownership Month.  USDA is spotlighting initiatives that assist individuals in rural, and underserve regions to purchase, construct, renovate affordable residences in Puerto Rico’s smallest towns and communities.

Trujillo-Ortega indicated that today we are recognizing the Top Puerto Rican Lending Partners. These lenders helped rural families and individuals buy homes across the archipelago of Puerto Rico last fiscal year (2023) through USDA Rural Development’s Single Family Housing Program.

The agency presented the awards to the following lenders:

USDA Rural Development Puerto Rico is a proud partner to all lenders who work with the agency to support rural homeownership. The Biden-Harris Administration has invested $96,256,930.70 to help 733 families & individuals. These numbers include all the lenders who work with the Agency.

Our Single-Family Housing Program invested $114,505,957 in Puerto Rico this year, assisting 965 families and individuals with their housing needs.

Trujillo-Ortega is also announcing today that USDA is inviting Organizations to Apply for Grants Program to repair Affordable Housing in Rural Communities. Eligible partners include State Government, municipalities, nonprofit and faith-based organization.

USDA is providing funds through the Housing Preservation Program (HPG). These funds may be used to:

• Repair or replace electrical wiring, foundations, roof, insulation and water/waste disposal systems.
• Support accessibility.
• Purchase construction materials.
• Finance administrative expenses up to 20%.

Last year Puerto Rico was awarded in the HPG Program $817,417.43. It helped 11 institutions and municipalities repair homes through Puerto Rico.

USDA is also spotlighting ways it is collaborating with lenders and community partners to open the door to homeownership for rural Puerto Ricans who have been unserved or underserved for far too long. USDA Rural Development Puerto Rico is hosting events across the island to showcase affordable housing programs for lenders, community partners, families, and individuals. USDA’s Rural Development single family housing programs are:

• The Single Family Housing Direct Home Loan Program provides loans directly to families and individuals so they can buy or build homes in rural Puerto Rico.

• The Single Family Housing Guaranteed Loan Program enables to collaborate with private lending institutions, backing their loans to help families and individuals buy homes in rural areas

• The Home Repair Loan and Grant Program provides loans and grants to help families and individuals repair their homes to make them safer, healthier places to live.

• The Mutual Self-Help Housing Grant Program provides grants to qualified organizations to help them carry out local self-help housing construction projects.

Visit the Single Family Housing program webpage or contact a Rural Development State Office to learn more about PRDA homeownership programs near you.

Under the Biden-Harris Administration, Rural Development provides loans and grants to help expand economic opportunities, create jobs and improve the quality of life for millions of Puerto Ricans 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, and high-poverty areas.

If you'd like to subscribe to USDA Rural Development updates, visit our GovDelivery subscribers page. You can follow us on our X account @RD_PuertoRico.

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