(KLZA)-- The U.S. Department of Agriculture Rural Development has announced an increase in income limits for their homeownership programs.
The direct homeownership program provides subsidized loans in rural areas to purchase or construct a single family home. Applicants interested in obtaining a direct home loan must have an adjusted income that is at or below the applicable low-income limit based on their size of household and the county where they wish to buy a house.
Nebraska is participating in a pilot program that allows for two-two tiered income limits rather than limits based on individual household size, which will allow more families to qualify for the program. The two-tiered pilot will band together 1-4 person households and 5-8 person households.
The new income limit for most counties in Nebraska for 1-4 person households is $48,800 and 5-8 person households $64,400. However, higher income limits may be applicable in some counties.
A full list of income limits by county and household size are available on the Rural Development website at www.rd.usda.gov/ne .
The direct loan program offers 100% financing and rates are currently available at 3.0%. Depending on household incomes, mortgage payments may be further subsidized to as low as one percent interest rate.
All Nebraska communities in the area are eligible for USDA Rural Development housing programs.
Visit http://www.rd.usda.gov/ne and click on the link for “Single Family Housing Direct Home Loans” under Key Feature Programs for more information and a list of contacts.
© Many Signals Communication
MOST VIEWED STORIES
Walnut Township recall coming; Friday mtg erupts in arrest
Sabetha woman arrested in business burglary
Effingham teen facing child sex crimes charges
Two search warrants, two Horton homes, two arrests
Severe storms move through NE KS
Document forgery alleged in ATCO's Walnut Township
Two Brown Co officers honored for their bravery
Whiting woman pleads to theft of fire dept. funds
Severe storms reported Tuesday in NE KS
Flags across KS to fly half-staff Sunday
Two men arrested in Jackson Co for distribute of meth
Atchison man nabbed for neighbor's 4 wheeler theft
Winning lottery ticket sold in Falls City about to expire
Four arrested for illegal activity on Kickapoo Reservation
Meriden man bound over on rape charge
Tornado damage surveyed in NE KS
Richardson County Deputies busy during special enforcement
LATEST STORIES
Four arrested for illegal activity on Kickapoo Reservation
Two search warrants, two Horton homes, two arrests
Brown Co Sheriff's Office releases April stats
Flags across KS to fly half-staff Sunday
Commission takes action related to bridge project
Whiting woman pleads to theft of fire dept. funds
Two men arrested in Jackson Co for distribute of meth
RELATED STORIES
USDA To Help Fund Area Projects
USDA Reminds Producers of Livestock Program
USDA Looking to Expand Use of Plant Based Materials
Land Holdings By Foreign Persons Must Be Reported to USDA
USDA Boss Blasts Railroads for Rail Car Shortage
USDA Funds Available for Rural Communities
USDA Rural Development Continues to Invest in Nebraska