Holden, MA, June 28, 2024 – As part of National Homeownership Month, U.S. Department of Agriculture (USDA) Rural Development State Director, for Southern New England, Scott Soares was joined by RCAP Solutions President Brian Scales in the Holden, MA Area Office for a signing ceremony that recognized RCAP becoming a loan packager for USDA Rural Development’s Section 504 Home Repair program.
“This is another great example of partnerships in action,” said Scott Soares. “Make no mistake, organizations like RCAP Solutions and the Southern New England Rural Development team, are positively impacting rural American lives. Thanks to the Biden - Harris Administration, this Department has made historic strides in how, and who, we are serving – and this effort will now be complimented by working with our partners and friends from RCAP Solutions.”
“For many years, our partnership with USDA Rural Development has been a cornerstone of our efforts to support and empower rural communities, said Brian Scales, President of RCAP Solutions. “This new opportunity marks an exciting chapter in our collaboration, reinforcing our shared commitment to driving sustainable growth and enhancing the quality of life for residents in rural areas. Together, we will continue to make a meaningful impact, fostering innovation and resilience in the communities we serve.”
All throughout June, the Department has highlighted the ways USDA Rural Development (RD) homeownership programs and partnerships have historically given people in rural America and on Tribal lands the opportunity to build wealth and equity, and a foundation for a brighter future for themselves and their families:
- Since 1949, USDA’s Single Family Housing Programs have helped nearly 5 million families and individuals achieve the dream of homeownership.
- Through the Single Family Home Repair Loan and Grant Program, USDA has helped nearly 455,000 individuals and families improve the quality of their homes since 1950.
- And since 1966, USDA’s Mutual Self-Help Housing Technical Assistance Grant Program has helped more than 56,000 families build their own homes.
- This year, in Southern New England, the USDA has assisted nearly 70 families and invested more than $15 million.
The Biden-Harris Administration has invested more than $43 billion 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.
USDA is also highlighting resources to help potential homebuyers prepare for buying a home and to be ready to apply for USDA programs once funding becomes available.
For instance, individuals can learn more about homeownership readiness through the Consumer Financial Protection Bureau’s Home Loan Toolkit. Individuals may also review program eligibility requirements through USDA's Single Family Housing Self-Assessment site.
USDA Homeownership Programs
For 75 years, USDA has made financing affordable for families who would otherwise be unable to secure a home loan. By providing low interest rates, loan guarantees, reduced down payments and construction grants, Rural Development’s Single Family Housing Programs have become a vital resource for millions of rural Americans.
These programs include:
- The Single Family Housing Direct Home Loan Program has helped qualified lower-income applicants buy homes with no money down so they can build wealth and equity.
- The Single Family Home Repair Loan and Grant Program has helped families and individuals repair and modernize homes, and make them safer, healthier places to live.
- The Mutual Self-Help Housing Grant Program has worked with nearly 250 organizations to help families and individuals lower the cost to purchasing a home by participating in its construction.
- The Single Family Housing Guaranteed Loan Program enables USDA to partner with private lending institutions, backing their loans to help families and individuals buy homes in rural areas.
USDA 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. Visit the Rural Data Gateway to learn how and where these investments are impacting rural America. To learn more, visit www.usda.gov. To subscribe to USDA Rural Development updates, visit the GovDelivery Subscriber Page.
USDA touches the lives of all Americans each day in so many positive ways. Under the Biden-Harris Administration, USDA is transforming America’s food system with a greater focus on more resilient local and regional food production, fairer markets for all producers, ensuring access to safe, healthy and nutritious food in all communities, building new markets and streams of income for farmers and producers using climate-smart food and forestry practices, making historic investments in infrastructure and clean energy capabilities in rural America, and committing to equity across the Department by removing systemic barriers and building a workforce more representative of America. To learn more, visit www.usda.gov.
To subscribe to USDA Rural Development updates, visit GovDelivery subscriber page.
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