Coos Bay, North Bend receive rural area designation by USDA

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Story Published: Jun 24, 2009 at 3:53 PM PST

By Kristina Nelson

COOS BAY, Ore. - In recognition of National Home-ownership Month. representatives from the state's USDA Rural Development Department made a trip to the Bay Area, to discuss some new financial opportunities for home owners and buyers.

USDA Area Office representatives presented a free housing seminar to Realtors, lenders, and housing authorities on Tuesday in Coos Bay.

"Our meeting today was about telling the community of our new rural area designation and how it would impact them. We're gonna bring a bunch of different housing programs to this community. Guaranteed direct, meaning we loan them money directly to the client, or even grants in some cases," says Housing Program Director Rod Hansen.

Recently, Coos Bay and North Bend were designated as rural communities by the state's USDA Rural Development Department, which is good news for some home owners and home buyers.

"We're gonna offer truly affordable 100 percent financing programs. If you can't get a loan elsewhere because of your own resources, you can't cover the 20 percent down payment, you can't cover the monthly payment, we've got some options."

Hansen says the new financial opportunities available to home owners and buyers through this rural designation, will hopefully increase the area's business base and living conditions.

For more information about USDA Rural Development log onto www.rurdev.usda.gov/or.

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