Two U.S. senators have introduced a bill to raise the population caps so that more home buyers can qualify for U.S. Department of Agriculture’s rural housing programs. Senators Tim Johnson, D-S.D., and Pat Roberts, R-Kan., have introduced a bill to raise the cap from 25,000 to 35,000 through 2020.
“Buying or building a home in a rural area can present unique challenges, and the USDA’s rural housing programs have helped make responsible home ownership a reality for countless moderate and low-income families in South Dakota and nationwide,” Johnson says. “Providing these loans, grants, and loan-guarantee programs helps younger generations stay in the communities they’re from, and ensures rural housing markets have access to private credit.”
The Senate had passed a similar bill last year with bipartisan support, but it ultimately stalled in the House of Representatives and never became law.
Source: “Senators try to extend access to rural housing programs,” HousingWire