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The U.S. Department of Agriculture's Rural Development agency has announced a decrease in the home mortgage interest rate for its Direct Homeownership Loan program.

As of Sept. 1, the interest rate will be reduced to 2.875 percent, which is the lowest interest rate ever offered by the agency.

The Direct Homeownership Loan program is available to households with incomes at 80 percent or less of the county median income, for the purchase of an existing home or new construction in rural areas. All communities in Nebraska are eligible for housing programs except for Fremont, Grand Island, Hastings, Kearney, Lincoln, North Platte, Omaha and South Sioux City/Dakota City.

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Reach the writer at 402-473-2647 or molberding@journalstar.com.

On Twitter @LincolnBizBuzz.

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