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USDA Celebrates National Homeownership Month

Name
Miguel A. Ramirez
Email
miguel.ramirez@usda.gov
Phone
(305) 342-9153
City
San Juan, PR
Release Date

                                                                                                                                                                            versión en español, oprima aquí

Activities and Events across the Nation to Spotlight Efforts to Help Rural Residents Realize the Dream of Homeownership

WASHINGTON, June 1, 2021 – Today, Agriculture Secretary Tom Vilsack kicked off National Homeownership Month, as part of a nationwide celebration to highlight U.S.  Department of Agriculture (USDA) efforts to provide access to affordable housing for rural Americans.

"Well-built, energy efficient, affordable housing is essential to the vitality of communities in rural America,” said Secretary Vilsack. “Under the leadership of President Biden, Vice President Harris, USDA is increasing racial equity and investing in the people of rural America to help them achieve the dream of homeownership.”

To assist homeowners facing current hardships, USDA is offering payment moratoriums and modified application procedures. USDA Rural Development is also working with new borrowers and their lenders to make special accommodations based on local needs and restrictions.

Luis R. García, USDA Rural Development Acting State Director indicated the Agency has invested in Puerto Rico $326,822,502.00 to support 2,765 families to buying their first home during Fiscal Year 2021.

Numbers Breakdown:

Guarantee Loans $319,443,290.00

Direct Loans $7,379,210.00

Since 1949, USDA has helped 4.7 million families and individuals buy homes in rural areas. USDA Rural Development supports rural homeownership through the following programs:

  • The Single-Family Housing Direct Home Loan Program provides loans directly to families and individuals so they can buy or build homes in rural America. In its lifetime, this program has helped 2.2 million families and individuals purchase a home.
  • Through its Single-Family Housing Guaranteed Loan Program, USDA has partnered with more than 4,000 private lending institutions, backing their loans to help nearly 2 million families and individuals buy home in rural areas since the program was created in 1991.
  • The Home Repair Loan and Grant Program provides loans and grants to help families and individuals repair and modernize homes, making them safer, healthier places to live. Since it started in 1950, the program has helped nearly 434,000 families improve the quality of their homes.
  • The Mutual Self-Help Housing Grant Program provides grants to qualified organizations to help them carry out local self-help housing construction projects. Through this program, USAD has worked with nearly 230 organizations to provide a unique opportunity for families and individuals to lower the overall purchase price of a news home by investing “sweat equity” into its construction.

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 American in rural areas. This assistance supports infrastructure improvements; business development; housing; communities’ facilities such as schools, public safety, and health care; and high-speed internet access in rural, and high-poverty areas. For more information, visit www.rd.usda.gov or visit our Twitter Account @RD_PuertoRico.   If you’d like to subscribe to updates from USDA Rural Development, visit our GovDelivery subscriber page.

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USDA is an equal opportunity provider, employer, and lender.