USDA offers home loans
Elderly, low income can benefit
Michele Christopher, spokesperson for the USDA Rural Development office in Hillsboro, said grants up to $7,500 are available to residents of Jefferson, Franklin or Washington counties who are at least 62 years old and meet the income requirements.
Grant money can only be used for safety or sanitary issues such as a failing septic system, new windows, doors or a new roof, Christopher said.For those who are not 62 but meet the income requirements, loans with an interest rate as low as 1 percent are available. The loan money can be used for remodeling or home repairs, Christopher said.
Although all of Washington and Franklin counties are eligible for the program, the northern part of Jefferson County, which includes High Ridge, Arnold, Imperial, Barnhart and the city limits of Festus and Crystal City are not eligible for the program.
"They are too close to St. Louis County to be eligible," Christopher said, "but De Soto, Hillsboro, House Springs, Dittmer and rural Festus would be eligible."
Christopher said the application process takes about four to six weeks to complete, with the loan money more readily available to those who qualify. Applicants must also be free of major credit problems, but Christopher said her office will help people address any harmful credit issues to help resolve them.
For those interested in buying a home in one of the qualifying rural areas, a 100-percent financing program is also available through the USDA Rural Development Program.
"These loans are for low-income families and can be as low as 1 percent interest," Christopher said. "For moderate income families, we also offer 100 percent financing by working with local banks."
Christopher said the programs are designed to promote development in rural areas.
To apply for the programs or for more information, call Christopher at 636-789-3551 ext. 4, or visit the USDA Web site at www.rurdev.usda.gov/mo.
