In this issue:
Housing participants move into new Hyrum homes
HYRUM – After nearly 25,000 hours of blood, sweat and tears, 10 families slept in their new Hyrum homes on Thursday night after celebrating the completion of the city’s first mutual self-help housing community. Read more
The National Rural Housing Coalition’s (NRHC) annual meeting was held during the last week of November. Anne Hazlett, assistant to the Rural Development secretary, attended the meeting to talk about issues related to rural housing programs. Most notable in her first presentation … Read More
I have a Section 502 loan application that I’m packaging where the applicant has only been at their current job for about three months but they have been in the same field of work for several years, is this considered stable and dependable? Read Sher’s tip
Share your self-help housing story
Self-help housing provides plenty of opportunities to share success stories and gain interest in the Mutual Self-Help Housing program. Your success stories help spread the word to families who may want to participate and build their own homes. RCAC can help! Read how
News you can use!
Procedural Notice 504 implements significant changes to self-help rehab and Handbook 3350-1 Chapter 12
USDA Rural Development created a webinar that provides an overview of changes made to the Section 504 direct loan and grant repair programs, which became effective on Oct. 5 through PN 504 . This webinar and associated handout are available under the “Forms & Resources” for Single Family Housing Repair Loans & Grants under Training Resources.
Procedural Notice 505 makes changes to Property Requirements in Handbook 3550-1 Chapters 5 and 1
PN 505 was issued Nov. 3 and identifies changes to Property Requirements in Chapter 5 and changes in Disposing of REO Property in Chapter 16.
USDA Rural Development introduces a webinar on the Section 502 direct loan program’s pre-qualification and application processes
USDA Rural Development presents a webinar providing an overview of the Section 502 direct loan program’s pre-qualification and application processes. This webinar and associated handout are available on its website under the “Forms & Resources” for Single Family Housing Direct Home Loans under Rural Development Staff and Loan Application Packager Resources.
Are you signed up to receive Procedural Notices and other program updates from Rural Development?
Make sure you’re signed up (it only takes a couple of minutes) to receive the most up-to-date information on Section 502 single family loan regulations and agency updates. The Single Family Housing Direct Loan Division has GovDelivery available for you to receive program updates. Use this link, enter your email and select the “SFH Direct Loan and Grant Programs” (and any other programs of interest) and then click “Submit.”
USDA Rural Development announces chief of staff for rural housing services
On Dec. 4, Anne Hazlett, assistant to the secretary for Rural Development, announced the appointment of Curtis Anderson as chief of staff for Rural Development’s Rural Housing Service.
Need financing for affordable housing development?
RCAC’s Loan Fund is a financial resource for rural communities, providing gap financing, acquisition financing and other loans that conventional markets traditionally neglect. RCAC is a certified Community Development Financial Institution (CDFI) with a high rating from the independent Aeris Rating service.
Our affordable housing loans cover: financing to help developers build single-family, multifamily affordable housing units and manufactured housing communities for low-income families. We provide short-term loans for land acquisition, predevelopment and construction to support affordable housing efforts.
Our team is easy to work with and provides quick turnaround on applications, and our loans can be tailored to fit your specific needs. We work with large and small organizations. Give us a call for an informal discussion about your specific needs. Our rates and terms are very competitive but vary by program.
- Northern CA and AK – John Weidemaier (530) 741-2227
- Southern CA and HI – Mike Carnes (559) 802-3381
- WA, OR, WY, ID, MT – Chuck Miller (360) 558-2307
- AZ, NM, NV, UT, CO – Darryl English (435) 640-9770
- Or, call RCAC’s main office at (916) 447-9832 and ask for Loan Fund
RCAC’s Self-Help Builder News is funded by USDA Rural Development
The newsletter is published quarterly for the western region self-help network at no cost to subscribers. We encourage correspondence and contributions.
Stanley Keasling, chief executive officer
Angela Sisco, executive editor
Sharon Wills, managing editor
Editorial office, West Sacramento, CA (916) 447-2854
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