Building North Dakota

State Director Jasper Schneider
Greetings,

 

Housing continues to be a major component of what we do at USDA Rural Development. In the past year or so, we have financed about 500 single family homes for almost $60 million. We do this in conjunction with private banks and credit unions. We also manage a large multi-family portfolio that helps address the needs of our seniors and lower incomes. As you know, the market continues to dictate rising home prices due to population growth and high demand. When I started at USDA four years ago, the housing market was in a completely different place. We continue to see the need for quality, affordable housing as an issue in communities all across North Dakota. 

 

To help provide flexibility in our programs, we recently raised our lending limits to help match the realities of a booming market. This is the second time in my four years at USDA that we have raised our limits and we do so after a careful market analysis and feedback from lenders, realtors and community leaders. More information on the limit increase is referenced in articles throughout this newsletter.

 

I'm committed to smartly growing North Dakota and the bedrock of any community is quality and safe housing. As always, I enjoy hearing your feedback on how we can continue to work together to build a better state and place to live.

  

                                           - Jasper Schneider

      
USDA raises home
loan limit
 

The USDA home loan limit in all North Dakota counties increased from $179,000 to $240,000 May 1st.

 

To determine the appropriate area loan limit, a market analysis was conducted of statewide residential property sales. The new limit of $240,000 will provide uniformity and address the cost barrier to construct affordable housing due to rising material costs and labor wages.

 

In fiscal year 2012, USDA 502 housing program provided more than $61 million in financing for more than 500 North Dakota homes. Read Senator Heitkamp's announcement.  



USDA RAISES HOME LOAN LIMIT

 
KFYR TV - Chris Williams
 
"This isn`t a traditional market. You`ve just had this perfect storm of factors that have dramatically driven up the market," said USDA State Director Jasper Schneider.

Schneider says some of those factors are the inflation in labor and materials, and low interest rates. But USDA is helping out by raising their home loan limits to $240,000 in all counties in North Dakota. Read story or play video below.   

 

      

 
For more information, please read the articles below: 
 

Williston Herald, David Rupkalvis: USDA ups the ante to help home buyers

Minot Daily News: USDA raises home loan limit

Oil Patch Dispatch, Amy Dalrymple: USDA home loan limit increased for ND



SENATOR HEITKAMP HOLDS HOUSING MEETINGS    

Senator Heitkamp and State Director Schneider discuss housing in Valley City. Photo Courtesy of Valley City Times.

 

Senator Heidi Heitkamp held a series of discussions around North Dakota focused on finding solutions to the state's housing crisis. These events took place in Bismarck, Minot, Williston, Valley City, and Fargo.

  

Several entities were included in the discussions including USDA. Heitkamp is a member of the Senate Banking, Housing and Urban Development Committee, which has jurisdiction over housing issues. Read news release.


USDA HOUSING PROGRAM

 

As a part of USDA Rural Development, our mission is to improve the quality of life in rural areas. Housing is the cornerstone of a vibrant community. USDA helps grow neighborhoods by building and preserving quality housing and rental opportunities. Through direct loans, guaranteed loans and grants, we are able to help construct, purchase, or rehabilitate a dwelling. The single family housing program provides financing to low- to moderate- residents at favorable rates and terms.  

 

 


RURAL STAKEHOLDER DISCUSSION

Please join USDA Administrator John Padalino

 

Administrator John Padalino

Jasper Schneider, USDA Rural Development state director, invites you to participate in a Rural Stakeholders discussion with the USDA Rural Utilities Service Administrator, John Padalino. Administrator Padalino is looking forward to hearing from all of you. Please make sure your industry is represented and confirm your participation in this important discussion about the future of Rural.  RSVP to [email protected] by May 15th.

 

Date: Thursday, May 16, 2013

Time: 1:00 to 2:30 PM

Location: NDaREC Ulmer Center

3201 Nygren Drive NW

Mandan, ND 58554 

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