HOME LOANS AVAILABLE

Owning a home is part of the American dream but one that some people just can't afford to realize.

The Rural Economic and Community Development office in Jackson has a solution -- rural housing guaranteed loans.

The RECD program helps buyers secure a loan without a down payment.

"The RECD will continue to play a strong role in providing housing credit to low- and moderate-income rural residents," manager Randal D. Friend said. "Our role is to help families who cannot obtain housing loans through commercial credit sources to obtain safe, decent and adequate housing through RECD credit, including guarantees."

To qualify for the program, borrowers must have a dependable income; be a U.S. citizen or permanent, legal resident; have an annual income that doesn't exceed 115 percent of the area's median income; a good credit history; and a total debt ratio of 41 percent or less.

There are no restrictions on the homes eligible; however, they must be in an area with a population of 20,000 or less. Homes in the city of Cape Girardeau are ineligible.

The loan program is administered by the Rural Housing and Community Development Service, an agency within the RECD.

Bollinger, Cape Girardeau and Perry county residents are eligible for the program. For more information call the office at 573-243-3158.