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Rental housing program receives funding boost

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By The Staff

USDA Rural Development's Rural Rental Housing program has received more than $100 million in funding.

The funds will help rehabilitate affordable rental housing in rural communities.

Rural Development and mortgage lender Ginnie Mae partnered in 2005. Rural Development loans are guaranteed by Ginnie Mae and then sold to private investors.

Since the rental housing program began in 1999, about $270 million has been used to renovate more than 10,000 housing units.


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