A new program hopes to make it easier for people to purchase a home in rural communities in Kansas. The Home Loan Guarantee for Rural Kansas is a new initiative from the Kansas Housing Resources Corporation. The program is designed to help existing and prospective homeowners in rural counties finance home loans for land and building purchases, renovations, or new construction costs. The goal of the program is to close the “appraisal gap.” That is the gap where the costs of new construction or renovation far exceed the appraised value of the property, even after the work is completed.
Source: KSN-TV
