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USDA direct loan program helps single mom buy home

Tiffany Abbot, second from right, USDA Rural Development Area Specialist Debbie Berry, and real-estate agents Justin Wrisinger, far left, and Eric Pierson celebrated Abbot’s purchase of this Richmond home through a USDA program that assists lower-income buyers. (Submitted photo)

Tiffany Abbot, second from right, USDA Rural Development Area Specialist Debbie Berry, and real-estate agents Justin Wrisinger, far left, and Eric Pierson celebrated Abbot’s purchase of this Richmond home through a USDA program that assists lower-income buyers. (Submitted photo)

By David Knopf/News Editor

Tiffany Abbot of Richmond is a poster child for homebuyers who benefit from a USDA Rural Development program that supports rural homeownership.

Abbot, a single mother and lower-income buyer, qualified for Rural Development’s Direct Home Loan Program.

She was honored along with Eric Pierson and Justin Wrisinger, both with Pierson Realty.

The honor recognized National Homeownership Month, which takes place this month.

“Ms. Abbot prequalified (for the loan program) and then began her search for a new home,” said Debbie Berry of the Rural Development office in Richmond. “When she found her dream home, she signed a contract and proceeded through inspections, an appraisal and closed on the home just days before Christmas (2014).

“At closing, she said she was excited to move into her new home and said she and her daughter would roll out the sleeping bags to spend their first Christmas in their new home.”

Under Rural Development’s 502 Direct Home Loan program, the focus is on helping low- and very-low-income applicants buy homes.

Some applicants may qualify for assistance in making mortgage payments, Berry said, but not all applicants need it.

The complete story is in the Thursday, June 18, 2015 Richmond News.

Click here for our E-edition and read the rest of the story.

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