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Bank's foundation gives grant to aid low-income homebuyers

August 03, 2006

The Sovereign Bank Foundation has provided a matching grant to the Washington County Community Action Council that will assist CAC in sustaining staffing for the Affordable Homes Program provided for low-income households in rural areas of Washington County.

Through partnerships among the Sovereign Foundation and USDA Rural Development and CAC, eligible home buyers can receive low-interest loans for properties in rural Washington County. By working together, these organizations are able to provide permanent financing that permits households who may not otherwise be able to afford it to purchase a home.

Buyers must meet certain income guidelines and properties must pass inspection standards. To obtain more information or to begin the qualification process, contact Community Action Council's Mike Spickler at 301-791-4161, ext. 129, or USDA Rural Development's Bonnie Rohrer at 301-797-0500.

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