USDA Rural Development offers home repair loans

USDA Rural Development offers home repair loans
The local USDA Rural Development office in Sioux Falls, which serves Lake, Lincoln, McCook, Miner, Minnehaha, Moody and Turner Counties, is announcing the availability of home repair loan funds for qualifying home owners. This loan program is designed to assist qualified applicants make necessary repairs and improvements to their existing homes that they would not otherwise be able to afford.

Typical repairs include replacing or repairing a furnace, insulation-weatheri zation, roof repairs, doors and windows, siding, plumbing, electrical, structural defects, or any other health safety hazard in a home.

Loan funds are currently available to very low income applicants at a fixed interest rate of 1 percent for households that meet certain income criteria. For example in all counties except Lake, Miner and Moody, a household size of two people with total adjusted annual income under $25,100 could qualify for this program with Minnehaha, Lincoln, McCook and Turner County at $25,000 for qualified income.


Interested parties should contact the Sioux Falls Rural Development Office at (605) 330-4515, ext. 4. The office is located at 2408 East Benson Road, Sioux Falls.

USDA Rural Development is an Equal Housing Opportunity lender. USDA Rural Development has 10 offices in the state that assist rural communities. Office locations include a state office in Huron, along with area offices in Aberdeen, Huron, Mitchell, Pierre, Rapid City, Sioux Falls, Sturgis, Watertown, and Yankton.

USDA Rural Development's mission is to deliver programs in a way that will support increasing economic opportunity and improve the quality of life of rural residents. Further information on rural programs is available at a local USDA Rural Development office or by visiting USDA's Web site at http://www/rurdev.usda.gov.

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