USDA makes $40 million available for rural home loans in Utah

Utah will receive an additional $40 million in Recovery Act funds for direct home loans through the U.S. Department of Agriculture, the agency announced Friday. The loans are for low- and very low-income families who want to purchase or build a home in a rural area. The funds will be available starting Sept. 30 and can be used for 100 percent financing at low interest rates. So far, Utah has serviced 175 rural families through the direct home loan program, obligating more than $27.9 million to help families achieve homeownership.For more information visit www.rurdev.usda.gov/ut or call 801-524-4324 to locate one of seven agency offices across Utah. The Deseret News