New Government Guaranteed Loans Now Available – Zero Down Plus 102 Percent Funding-Arizona Housing Association Announces USDA Program for Manufactured and Modular Housing

May 19, 2009 (PRLEAP.COM) Business News
Under President Obama's Housing and Economic Recovery Act of 2008, which was signed into law on February 17 and established the First-Time Home Buyers Tax Credit, today's Manufactured Home has never been more affordable for first-time home buyers. As a result, the US Department of Agriculture (USDA) has announced that approximately $10 billion in purchase funds are now available for the Single Family Housing Guaranteed Loan Program (SFHGLP), according to the Arizona Housing Association.

These USDA loans are primarily to assist low-income individuals or households purchase homes in rural areas. Funds may be used to purchase, build, repair, renovate, or relocate a home, or to purchase and prepare a site, including providing sewer and water.

"The availability of the additional $10 billion in guaranteed loan funding will help make manufactured and modular housing more accessible to Arizona's rural area residents," said Ken Anderson, Arizona Housing Association President.

With the crisis in affordable housing continuing across America, Manufactured Housing offers a unique source of quality, non subsidized homes that provide exceptional value. With an average per-square foot cost ranging from 10 to 35 percent less than site-built homes, depending on geographic region, today's Manufactured Homes provide homebuyers with the best value to be found in the housing marketplace.

The Arizona Housing Association is dedicated to increasing home ownership opportunities in Arizona by focusing on image improvement, zoning equality and customer satisfaction. Its membership includes Manufacturers, Retailers, Developers, Lenders, Contractors/Installers, Suppliers, and Brokers of Pre-Owned Homes. AHA has a legislative and regulatory program designed to protect and promote the interests of the industry. It also conducts educational programs designed to address members' needs and industry issues.