LYONS, NEBRASKA – The Center for Rural Affairs is now offering home ownership and home improvement loans in rural Nebraska.
Loans between $5,000 and $100,000 are available for the purchase of a home, owner occupied rehabilitation or renovation, or emergency repair to property.
“Rural areas tend to have fewer quality housing options available compared to urban communities,” said Kim Preston, Center for Rural Affairs’ Rural Enterprise Assistance Project (REAP) director. “Small towns suffer from low home vacancy rates, aging housing stock, insufficient rehabilitation, and lack of new home construction.”
The Center for Rural Affairs will offer these loans to low- and middle-income families, increasing homeownership opportunities. The organization has offered small business assistance for decades, and has lent more than $21 million to Nebraska small businesses since 1990.
“Many low-income, low-asset borrowers will be left out of homeownership if there are no alternative paths to buying a house,” Preston said. “Our mission as a community-based lender is to create an economy that works for everyone who calls rural America home.”
Applicants are not required to provide a down payment, however applicants who provide a down payment may be eligible for discounted interest rates.
Visit cfra.org/homeloans to apply. Call 402.687.2100 for more information.