Rural Development Loans for Rapides Parish, Louisiana

NAR is still working on restoring the 502 single-family rural housing loan guarantee program. Language is included in H.R. 4899, the Emergency Supplemental Appropriations bill, that is currently in conference between the House and Senate. We expect the House to pass that bill shortly and are hopeful the Senate will do the same when they return the week of July 12. This is major loan source for Central Louisiana residents. On average 60% of all buyers I work with use this type of financing. I have recently noticed a decrease in business. I certainly look forward to the funds becoming available.

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