In this issue:

Policy update

The President has released what is called the skinny budget for FY 2018. As the President said in his first State of the Union Address, he is proposing a significant increase to the defense budget, which he intends to offset with cuts to domestic discretionary spending. Read More >>

Community Rebuilds continues to break the mold for self-help housing

Moab, Utah – Emily Niehaus happily acknowledges she took a circuitous route to become a housing advocate. She tallies her master’s degree in applied sociology and following that, stints as a loan officer, bookkeeper and case worker.

“But those three jobs really pointed me in the direction of affordable housing,” says the founder and director of Community Rebuilds. Read more>>

Dreams become reality in zero energy affordable homes

Whitehall, Mont. – In the late 1970s, Barbara Miller was a newspaper reporter writing about Missoula and Butte, Montana, and as such, she paid attention to all sorts of trends-from the local and national economy, to housing, to scientific breakthroughs. As it turned out, her reporting and stories eventually intersected when she came across some technological research that would have a significant real-world impact in Butte. Read More >>

Dear Sher,

I am working on packaging a 502 loan application that has significant student loan debt but the applicant is on an Income Driven Repayment Plan, how do I handle this in my Total Debt (TD) calculations? Do I still use 1 percent of the total balance or can I use the income driven amount? Read Sher’s tips >>

Upcoming events

Section 502 Packaging Training for Nonprofit Developers

Tuesday, April 18 at 8:00 AM – Thursday, April 20 at 4:00 PM
Hosted by Housing Assistance Council in Christianburg, Virginia

Register here >>

May 22 – 26 in Minneapolis, Minnesota – NeighborWorks Training Institute
Hosted by NeighborWorks America

Register here >>

This three-day advanced course covers USDA Rural Development’s Section 502 Direct Loan Program and provides invaluable insight as to how this homeownership financing resource can be utilized. Learn how to assist potential borrowers and work in partnership with Rural Development staff, as well as other nonprofit organizations and regional intermediaries to deliver successful Section 502 loan packages.

This course is intended for and specifically framed for those experienced in using Section 502 and/or other affordable housing mortgage products. Participants will learn regulations and practical applications of the loan program while developing a strong understanding of 502 direct underwriting and packaging standards. Following the course, participants are encouraged to take the online certification exam.

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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