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USDA presents housing loan opportunities to Tusayan Town Council
Programs geared toward individuals and families based on family size and available income

Stilo Development Group representative Tom DePaolo addresses Tusayan Town Council members during the Sept. 5 regular meeting. Clara Beard/WGCN

Stilo Development Group representative Tom DePaolo addresses Tusayan Town Council members during the Sept. 5 regular meeting. Clara Beard/WGCN

TUSAYAN, Ariz. - During Tusayan Town Council's Sept. 5 regular council meeting, US Department of Agriculture's (USDA) Ernie Wetherbee presented information on available government loans programs for affordable, permanent housing in Tusayan.

First, Wetherbee introduced their "direct" housing program. In this program, there is no down payment required. In order to provide more affordability for low-income families, the loan can be extended over 38 years.

"By direct I mean that the agency actually is the lender. We provide the financing, applicants come to our loan offices and fill out an application. They go through a process similar to what any individual would do if they went through conventional financing. What we have to offer is the ability to provide subsidy," Wetherbee said, adding that the organization would only be able to provide financing for permanent, single family housing. "This program is geared toward individuals and families based on family size and income. It is geared toward low-income, below 80 percent median income."

For those of higher income, USDA offers a "guarantee" loan program where the lender is their client.

"And the lender basically reaches a moderate income," Wetherbee said. "It's the lender's loan, and the government provides to the agency a guarantee against loss."

The intent of the program is to allow opportunities for individuals to get "into housing," make their monthly payments affordable and at some point in the future, graduate out of the program.

In addition to housing programs, USDA offers community financing programs. Fire stations, day care centers, libraries, and sewer systems are among some of the facilities available for financing.

Addressing the council, Stilo Development Group representative Tom DePaolo said that by organizing the presentation, Stilo representatives hoped to show residents in Tusayan that affordable housing in Tusayan is a reality.

"These are some great programs because there are still people who don't believe they will be able to afford a home," he said. "Clearly, I think we've been convinced that that's not the case. We want to show people that regardless of their situation, they will be able to."


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