Colorado Housing Nonprofits Concerned About Potential Loss of USDA Loan Program
Austin Reese is building his new home in the High Country with the help of Habitat for Humanity Grand County.
Reese, an employee of the Colorado State Forest Service's Granby office, was able to afford the home in Hot Sulphur Springs thanks to the United States Department of Agriculture's 502 Direct Loan Program.
This federal loan program provides subsidized mortgage plans with benefits such as no down payment required, targeting low-income first-time homebuyers making between 50% and 80% of their county's area median income.
The program has been a "miracle" for rural homebuyers.
Author's summary: USDA loan program helps rural homebuyers.