ERBA Now Certified Loan Packaging Agency for USDA Rural Development

Print

Published on June 29 2016 4:26 pm
Last Updated on June 29 2016 4:26 pm
Written by Greg Sapp

(LEFT TO RIGHT: SUSAN PATREA--RURAL DEVELOPMENT AREA DIRECTOR; MICHELLE LASKOWSKI--MT. VERNON RURAL DEVELOPMENT OFFICE; SANDY DETERS--ERBA CERTIFIED LOAN PACKAGER; RONALD ZWILLING--EFFINGHAM RURAL DEVELOPMENT OFFICE; MARSHA ROLL--ERBA EXECUTIVE DIRECTOR)

The Embarras River Basin Agency (ERBA), a private, not for profit Community Action Agency, received a certificate of appreciation as a Certified Loan Packaging Agency for the USDA Rural Development.  Marsha Roll, ERBA, Executive Director believes this partnership will open and simplify access to the loans and homeowner opportunities including repairs to existing homes that Rural Development offers for qualified residents in the nine counties that ERBA serves.

“As a Certified Loan Packager, I travel to the nine counties that ERBA covers to assist the residents in completing the application and verify all their documentation required for the loan,” stated Sandy Deters, ERBA Housing Counselor and Certified Loan Packager.

USDA Rural Development's 502 Direct Loan and 504 Home Repair Loan/Grant program provides 100% financing through low-interest, no-down-payment loans to help low to very-low income families and individuals purchase or repair their own home.

The 502 Direct Loan funding can be used to purchase an existing home or to build a new home, within the established loan guidelines. The 504 Home Repair Loan/Grant funding can be used to improve or modernize their homes, to make them safer and more sanitary, or remove health and safety hazards.

The USDA Rural Development Agency strongly believes that establishing a vast network of competent, experienced, and committed certified packagers will benefit low and very-low income people who wish to achieve homeownership or home repairs in rural areas by increasing their awareness of the Agency’s housing program, increasing specialized support available to them to complete the application for assistance, and improving the quality of loan application packages submitted on their behalf.

“It is a WIN, WIN, WIN situation: the residents, the USDA Rural Development and ERBA all win,” added Ron Zwilling from the Effingham USDA Rural Development office. ERBA will be working closely with Effingham, Mt. Vernon and Champaign USDA offices.