EATON – The U.S. Department of Agriculture Rural Development agency will host an informational meeting at the Preble County Council on Aging Center in Eaton at 6 p.m. on Tuesday, March 15. The meeting is for potential homeowners, real estate agents and builders interested in learning more about mortgage loan programs offered by USDA Rural Development.
“In today’s real estate market, first-time homebuyers are finding it harder and harder to qualify for a mortgage loan,” said USDA Ohio Rural Development Loan Specialist Lori McCoy. “The good news is that USDA Rural Development is still making direct mortgage loans to help rural Ohioans purchase a home with no money down, no mortgage discount or origination points, and no private mortgage insurance required.”
USDA Rural Development mortgage loans offer an excellent opportunity to purchase a home, according to McCoy. The potential availability of monthly subsidies – based on household income and projected housing costs – also can help make mortgage payments affordable for low- and very-low income households.
Loan funds may be used to purchase either newly-built or existing housing. Some income limits apply and vary according to location. For example, a family of four searching for housing in the Preble County area may not have more than $49,050 in household income, and applicants must be creditworthy and show repayment ability for the loan.
The Preble County Council on Aging Center is located at 800 East Saint Clair Street, Eaton. For additional information, please contact Ms. McCoy at 937-393-1921, ext. 125, or by email at [email protected].