Volume 54, Number 7

fourteen pages

Byrdstown, Tennessee 38549 -- Wednesday, February 15, 2017

Pickett family celebrates Homeownership Month

Thirty-four years after
moving into their home, Russell
and Stella Logan realized
they may need to rethink
where their washer and dryer
were placed. As the years
passed, the stairs leading
down to their basement were
becoming more and more difficult
to maneuver, while carrying
loads of laundry.
The couple was referred to
the USDA Rural Development
Area Office in
Cookeville where they worked
with RD staff to qualify for an
affordable home improvement
loan and grant to build a
small room off the back of
their home. Now the washer
and dryer are easily accessible
on the main floor of their
"Having the washer and
dryer up here now is such a
relief," said Russell. "We really
appreciate everything the
people at Rural Development
did to make it possible."
The staff from the
Cookeville RD office recently
made a visit to the Logan’s
home, this time, to celebrate
Homeownership Month with
them by planting a tree in
their front yard.
"It's a great thing when we
can help a family qualify for
financing on home repairs
that meet their needs," said
Rural Development Area Director
Joe Woody. "Helping
people keep their homes accessible
and improving safety
is an important part of our
Rural Development homerepair
loans are designed to
alleviate unsafe conditions,
make repairs or add needed
space, as with the Logans.
The interest rate on these
loans is one-percent and payments
may be spread over as
much as 20 years to keep the
monthly payments affordable.
In some cases grants are
available for elderly homeowners
who need to correct
health and safety deficiencies,
improve accessibility or alleviate
Rural Development also
makes home-loans. These
may be made without a down
payment and eligible applicants
may qualify for loan financing
up to 100 percent of
the appraised value. Depending
on an applicant’s income,
monthly payments may be
based on an interest rate as
low as one percent. Loans are
typically made for 33 years at
a fixed interest rate, with a
maximum loan amount of
$136,000 in Pickett County.
Eligibility for assistance is
based on family income and
varies by county. For example,
a four person household
living in Pickett County with
an adjusted household income
up to $37,350 may qualify for
a low-interest home loan
through Rural Development.
--Continued to Page 4--
Rural Development staff
will help applicants calculate
their adjusted family income
and complete the application
"With all that’s happening
in the housing market right
now, finding the right home
loan for your family and circumstances
can be a frightening
prospect," said Woody.
"Fortunately our Rural Development
staff has a lot of experience
helping people
achieve—and maintain—the
American Dream of owning
their home, or repairing it;
just like the Logans."
Rural Development also
works with private lenders to
increase the number of affordable
home loans they make in
rural areas by providing a federal
guarantee on mortgages
for families and individuals
with moderate household incomes.
Loan-guarantees are
also available to private
lenders that finance the construction,
acquisition or rehabilitation
of affordable
multi-family rental housing in
rural areas.
For more information on
loan guarantees contact the
area office at the number
USDA Rural Development
invests in rural communities
through homeownership,
community and business development
Last year Rural Development
assisted more than
678,000 Tennessee families
and businesses with more
than $435 million in financial
assistance through affordable
loans, loan guarantees and
For more information on
Rural Development programs
available in Pickett County
contact the Rural Development
Area Office in
Cookeville 931-528-6539 ext.
2, toll free at (800) 342-3149
ext. 1493 or online at


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