Icolors natchitoches1/4/2023 ![]() ![]() The USDA Rural Development Program is perhaps best known for its home loans, but they offer much more. Last fiscal year, the program guaranteed over $1.5 billion dollars in loans and $62 million dollars in grants for Louisiana residents and their communities. The USDA Rural Development Program is a federal agency with 40 programs to offer citizens in our state’s rural areas. The agency also offers classes to its customers designed to help them with developing budgets, raising credit scores, and getting ready for the responsibilities of home ownership. ![]() The agency’s loans are at a competitive interest rate and are aimed at households at 30% to 80% of the area median income. The agency had a $1.7 billion dollar impact on our state last year, giving 601 first-time home buyers a shot at the American dream and assisting over 56,000 households with energy assistance. The Louisiana Housing Corporation is a state agency that sponsors 23 different programs ranging from help with utilities and weatherization to home loans. The agency also administers Louisiana’s Section 8 housing program, serving over 15,000 Louisiana residents. In addition, the “soft second” loan will be forgiven after a period of satisfactory payments. This would enable the purchaser to obtain a more costly property than either loan separately. In some cases, one may also obtain a “soft second” home loan from the Louisiana Housing Corporation. One example would be a USDA Rural Development home loan. Some of their programs can also work together, providing synergy for people using them. The two agencies, one state and the other federal share a common mission of helping rural areas thrive and grow. State Senator Louie Bernard, State Representative Rodney Schamerhorn, and Mayor Ronnie Williams were joined by city council members Petite, Washington, Nielsen, Sawyer-Smith, and a group of about 20 area residents. ![]() The informational sessions are designed to let interested citizens, officials, and community leaders know about the many opportunities offered by the two agencies and how they can work in tandem to build up rural communities. The Natchitoches session was the only second one to be held on the two agencies’ 20-stop tour of the state. The Louisiana Housing Corporation and The US Department of Agriculture’s Rural Development Program hosted an informational session Monday, August 15 in the City Council Chambers.
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