TOPEKA (KSNT) – Potential and current homeowners in rural Kansas can be financially assisted through the new Home Loan Guarantee (HGL) for Rural Kansas.
The program, which was created by Kansas Housing Resources Cooperation (KHRC), helps to close the gap between lenders and their financial institutions. The program serves counties with less than 10,000 residents and can be used for costs related to land, buildings, renovations and new construction. The program will guarantee 80% to 125% of the appraised value of the home, which caps at $100,000 per loan.
“Our rural communities must have adequate housing to prosper and thrive,” said Executive Director of KHRC Ryan Vincent in an announcement. “Communities cannot attract jobs or retain workers and families without quality, affordable homes. We are grateful to our state leaders for allocating these crucial funds to help rural Kansans achieve and preserve the dream of homeownership.”
The program has $2 million available through the program on a first-come basis. More information can be found on the KHRC website.