Although most people could tell you who the USDA is, and of all the amazing work they’ve done over the years to advance the agricultural landscape of our country, most are unaware of the pivotal role that the USDA takes in providing guaranteed rural home loans to tens of thousands of individuals and families annually through their various rural home loan and development programs that work to encourage sound rural economies and strengthen our outlying communities. The USDA is committed to creating opportunities for people to own their own home, and their guaranteed rural home loan programs are a clear reflection of this.
By June of 2011, the USDA rural home loan program had guaranteed 1,312 home loans in the State of Oregon, totaling almost $199 million. That money went directly into the rural housing market here in Oregon, providing revenue for home sellers and opportunities for home buyers. By providing a loan guarantee as opposed to a direct loan, the USDA rural loan program promotes lending by private banks, freeing up funds for other investments and stimulating the Oregon housing market.
By investing in the Oregon rural housing market, the USDA is increasing homeownership in our state, and is also providing a much needed economic boost to our local rural communities, helping to insure their viability, and sustainability, for years to come. Oregon residents should take advantage of the zero-down loans made available by the USDA, and if considering purchasing property, should check on available real estate in outlying Oregon communities. Many beautiful Oregon homes are available right now that qualify for a zero-down loan from the USDA.
Properties that are located in areas like Sheridan, Amity, Mt. Angel, Silverton, Molalla, Newberg, Aumsville, Lyons, Dayton, and Lafayette may be eligible for a zero-down mortgage under the USDA rural loan program. If you’re thinking about purchasing a home, why not see if a USDA rural loan is right for you.