The USDA has announced the following programs that can help people in our community to purchase a single family home and assist homeowners with home repairs:
Rural Housing Direct Loans are loans that are directly funded by the Government. These loans are available for low and very low income households to obtain home ownership. Applicants may obtain 100% financing to purchase an existing dwelling, purchase a site and construct a dwelling, or purchase newly constructed dwellings located in rural areas. The purpose of this loan is to provide financing at reasonable rates (can be subsidized down to 1%) and terms with no down payment. Mortgage payments are bases on the household’s adjusted income. Connecticut currently has $5,000,000 to spend in the next ninety (90) days.
The USDA also has a Home Repair Program that may be able to assist homeowners in the community with home repairs and/or alterations for handicap accessibility. They have loans and grants available depending on household demographics. For more information, please contact the USDA’s Windsor office at 860-688-7725, extension 4.