Guaranteed rural housing program

Tunkhannock - The US Department of Agriculture Rural Development offers a Single Family Guaranteed Rural Housing Program (GRH) designed to assist low and moderate income, credit worthy families and individuals in purchasing existing or building new homes in rural areas. To qualify, applicants must be under the moderate-income limit for the county in which they would live, have an acceptable credit history, and adequate and dependable income sufficient to meet all obligations. The applicant’s income and loan repayment ability will dictate the maximum loan amount. The applicant must be the owner/occupant of the property. This program requires no down payment and no monthly mortgage insurance. Ample guaranteed housing funding is available for the current fiscal year which runs from Oct. 1, 2006 to Sept. 30, 2007. Loans may be made for up to 100 percent of the appraised value for the purchase of a home and, in some cases, may include closing costs. For more information on the programs offered by USDA Rural Development, contact the Wyoming Local Office at 570-836-4157, ext. 4, or visit the Web site at www.rurdev.usda.gov/pa .