PIKE COUNTY, Mo. — Carla Potts and Cheryl-Ann Phillips of the North East Community Action Corporation will present a program at an upcoming state conference.

The two will discuss aspects of the USDA Rural Development 502 Direct Home Loan Program administered by NECAC during the Missouri Community Action Network annual conference May 26. Due to COVID, the event will be done virtually.

The Network represents the state’s 19 Community Action Agencies and advocates for the needs of disadvantaged residents. It holds a statewide conference each year during the May observance of National Community Action Month. There are more than 1,000 Community Action Agencies across the nation.

“We’re very excited about sharing the successes we’ve had with 502,” said Potts, NECAC Deputy Director for Housing Development Programs. “Nothing can beat the look on people’s faces when they receive the keys to their homes.”

“We are always looking for ways to help more people realize the dream of owning a home, and the 502 program is a great way to do it,” added Phillips, NECAC Homeownership Program Director. “We want people to know they can count on us to help in the home-buying process.”

NECAC administers the 502 program in Missouri, Illinois and Iowa. The loans are used mostly by income-qualifying people to buy houses in rural areas. There is no down payment, but families must be able to afford mortgage payments, including taxes and insurance. Loans are for 33 years, with the interest rate set by the lender.

As part of the program, homeownership classes teach participants about housing opportunities and financing, obstacles to home ownership, record-keeping, understanding credit, cash flow, meeting with financial institutions, getting  a loan, taxes and other topics.

For more information about NECAC housing programs, call Potts or Phillips at 573-324-6622.