I don't know how many have looked into the 1% interst loans that are available through Rural Development. We applied for a $20,000 loan over a year ago and within 30 days were approved and work began soon thereafter. We were able to upgrade one existing bathroom, add a second bathroom and totally remodel a back porch into a kitchen, complete with new sink, cabinets, ceramic tile flooring, counter tops. It is BEAUTIFUL! We were at freedom to choose the contractor materials, cabinets (Kitchen Craft) and add details. We did upgrade the windows (Milgard) to a wood on the inside. Any upgrades were payable to the contractor. Our payments are $97.00 a month for 20 year. However we will be able to pay this off a whole lot sooner than a conventional loan. It is worth a telephone call to see if you would qualify, but it has to be in a community of 10,000 or less if I remember right. For homesteaders that is more than likely the case. It worked well for us and I am hoping that the idea might help somebody else. You do have to choose a contractor that is off of their list, but we had at least 6 bids on the project and the one that we chose was excellant.

-- Ron (Ron@Verizon.com), November 13, 2001

Answers

What's the phone number?

-- (ProvidenceFarms2001@yahoo.com), November 13, 2001.

Yes, please, what IS the phone number?

-- terri (hooperterri@prodigy.net), November 13, 2001.

Sounds great!! I've never heard of this. Can we please have some more info on how to contact these people and are there specific things the money has to be used for?? THANKS

-- Lou Ann in KY (homes_cool@msn.com), November 13, 2001.

Please let me know their phone number and / or address! Sounds exciting. Thanx!

-- Carole in Wisconsin (coverga@bminet.com), November 13, 2001.

how rural do you have to be? please email phone number too thanks

-- j schlicker (schlicker54@aol.com), November 13, 2001.

I am sorry that I can not use my correct E-mail address as we are new to computers and inadvertently put my entire name in my address. Therefore I am getting all kinds of unwanted mail. Hopefully, we will get this changed soon. We live in Washington State, but it is a Federal Dept. In our phone book it is listed in the front pages under United States Goverment and then under the Dept. of Agriculture. When we first moved on to our homestead we also made use of a loan program that was for $20,000 at 0% interest and ZERO payments. At the point that we were to sell this place that note would become due. However it can be paid off at any time with no penalty. For REALLY low income people they had grants available. I will call tomorrow to see if the o% interest loans are a state program or a Federal Progtam. Both loans are for health and safety purposes, such as rewiring, plumbing, wells, foundations, roofs etc. There were income limits as well. We paid cash from the equity of our home that we sold in the suburbs so this has helped us make the farmhouse liveable. Since there was no plumbing or running water in the house. The program with the 0% interest did insulate the house for free. Ron

-- Ron (Ron@Verizon.com), November 13, 2001.

Please post more info on these programs!! I'm sure there are more struggling homesteaders like myself that would put this kind of program to good use.

-- Kevin R (kreffitt@dark-star.com), November 14, 2001.

Ron,

go to anyone of the free e-mail accounts and get one! it is worth the few minutes it takes to fill in the blanks. See this one is my Hobbit name and a real e-mail address....

My nephew and neice got one of these rural loans. Now I am not sure as to all the details but it went something like this.

They picked out a fixer upper up in the mountains (and it was trashed), had them completely remodel the entire house. That was a new kitchen and new bathroom, drywall ...you name it. The house is appraised at $95k and they pay $450.00 a month house payments. I am not sure if they said it was no interest of 1% interest. It is a rural loan of some kind. (who said these kids of today are not so smart!)

-- Ruby Danderfluff (RubyDanderfluff@yahoo.com), November 14, 2001.

Here's a link that might help: http://www.rurdev.usda.gov/rhs/ProgramBriefs/brief_repairloan.htm

-- CJ (cjtinkle@getgoin.net), November 14, 2001.