Federal, state and local officials are praising a plan to create more affordable, new homes in rural Iowa. Monica Fischer, spokeswoman for the Iowa Finance Authority, says her agency and Fannie Mae have teamed up to make it easier for builders to put up houses and for young families to buy them. Fannie Mae has provided a six-million dollar line of credit to the I-F-A which Fischer says expands its resources available to provide financial assistance for low-income single-family housing. Fischer says Fannie Mae is considered the world’s largest non-bank financial services company and the nation’s biggest source of financing for home mortgages. She says there aren’t a lot of builders putting up homes in rural areas, and this gives them some low-interest financing and incentive to build. The latest housing development is being built in the south-central Iowa town of Osceola, where three new homes are already built in a ten-home development. Fischer says they’re all two-and-three-bedroom homes with full basements, attached garages and air conditioning and they’ll sell for less than 120-thousand dollars. She says the first home in “The Meadows” has already sold to a new family. She says it helps keep people in their communities and become long-time members.More homes are being built or are already complete through the program in Bedford, Maquoketa, Corning and Shenandoah.
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