Funds available for rural rental housing

The U.S. Department of Agriculture is now accepting applications for loan guarantees to finance rural rental housing.

"The USDA remains focused on carrying out its mission, despite a time of significant budget uncertainty," a news release from the agency said.

USDA officials said they are looking for proposals from lenders for loans under the Guaranteed Rural Rental Housing Program, which has up to $150 million available. Approved applications from notices in prior years will be the first in line to receive funds.

The loan guarantees are available to construct or rehabilitate affordable rental housing in rural areas.

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