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King, Maine nonprofits balk at proposed changes to USDA home-loan program

U.S. Sens. Angus King, I-Maine, and John Curtis, R-Utah, are urging the Trump administration to alter recent changes to financing policies that make it more difficult for rural Americans to obtain housing loans.

In a letter to U.S. Department of Agriculture secretary Brooke Rollins, the senators asked that updates limiting additional access to the Rural Development Section 502 direct loan program be rescinded, noting that the revisions drastically reduce loan limits and add new layers of administrative complexity.

Says Jennifer Hawkins, president and CEO of Avesta Housing: “At this time of high prices, USDA should be using all of its tools to support homeownership, not make it more difficult for first-time buyers.”

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