CANYON, TX- The U.S. Department of Agriculture has two types of home loan programs designed to help middle and low income families find affordable housing.
When most people are looking to buy a home, many will finance through a bank of credit union.
Brian Schaffler recently found out she could finance hers through the USDA.
"I had a customer from my job tell me to look into the program since I'm a single parent and full-time student," Schaffler said.
Schaffler was able to get a 3-percent fixed interest rate on her new home in Canyon through a single-family guaranteed loan program.
"There's no down payment, no mortgage insurance and a 30-year fixed rate," Leon Carey with the USDA said.
There's also a direct home ownership program designed for low income applicants. They qualify for interest rates as low as 1-percent.
Besides meeting certain income requirements, you'll have to live anywhere in the Texas panhandle except for Amarillo.
"The program is geared towards rural communities," Carey said. "For many rural communities there is not an available source of mortgage assistance.
Had this aid not been available, Schaffler said her dream home would still be just a dream.
"I'd still be renting," she said. "It wouldn't be possible for me working 2 to 3 days a week just to get through school."
Carey says more than 100 people in the panhandle have recently taken advantage of this program.