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| The Rural Housing
Service (RHS) of West Virginia works to improve the quality of life for
rural Americans by ensuring that they have access to safe , well-built,
affordable homes. A house is more than a roof over our heads; it is often
the cornerstone upon which rests our ability to live near good jobs and
to gain access to good schools and other public services. Home ownership
builds economic stability and, over the long term, creates equity to finance
education, business startups and retirement. People with equity in their
homes not only take greater pride in them, they also become more involved
in their communities. RHS thus not only helps rural people acquire homes,
it helps build better lives and communities. |
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RHS offers two types of home ownership loans: guaranteed and direct
loans. The purpose is to provide financing - with no down payment and at
favorable rates and terms - either through a direct loan with RHS or with
a loan from a private financial institution which is guaranteed by RHS.
These loans are for the purpose, construction, rehabilitian, or relocation
of a dwelling and related facilities for low - or moderate-income rural
persons.
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RHS offers two types of home ownership loans: guaranteed and direct
loans. The purpose is to provide financing - with no down payment and at
favorable rates and terms - either through a direct loan with RHS or with
a loan from a private financial institution which is guaranteed by RHS.
These loans are for the purpose, construction, rehabilitian, or relocation
of a dwelling and related facilities for low - or moderate-income rural
persons.
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Self-Help Housing Loans help groups of six to ten low-income families
build their own homes by providing materials and the skilled labor they
cannot furnish themselves. The families must agree to work together until
all homes are finished.
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Home Improvement and Repair Loans and Grants enable low-income rural
homeowners to remove health and safety hazards from their homes and to
make homes accessible for people with disabilities. Grants are available
for people 62 years old and older who cannot afford to repay a loan.
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Housing Preservation Grants are provided to nonprofit and governmental
organizations to remove health and safety hazards to owner-occupied residences
or rental housing for low income individuals. These grants are used along
with other funding sources to accomplish the repairs. The dates and location
to apply are published in the Federal Register yearly.
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Rural Housing Site Loans buy adequate building sites for development
of a desirable community by private or public nonprofit organizations.
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RHS can help subsidize
monthly mortgage and rental payments, limiting these costs to no more than
30 percent of the adjusted monthly income of the applicant. These subsidies
can be used for the home ownership, rural rental and farm labor programs
described above.
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