Partners & Collaborators - Home Ownership Program
| The RDI Home
Ownership Program helps eligible Franklin County Residents
own a newly constructed or newly renovated home. RDI
provides assistance in obtaining financing from federal,
state, and local sources.
Photo at Right: Celebrating the 1st Franklin
County Tech School Home in Conjunction with RDI
- Left to Right: David Tuttle - State Director of
USDA Rural Development, Russell & Sheila Johnson-
homeowners, Congressman John Olver, and Paul Douglas
- RDI Executive Director.
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Financing a home is a complex undertaking. RDI relies on
the following organizations and programs to provide funding
and other resources required to make the Home Ownership
Program work.
• United States Department of Agriculture Rural
Development (USDA/RD):To date almost all RDI first
time homebuyers have received Section 502 mortgages from
the USDA/RD. this is an excellent mortgage product for low-income
buyers.
More Info - Visit
USDA Website
• Massachusetts Department of Housing and Community
Development (DHCD) HOME Program: This program has assisted
the Home Ownership Program and buyers of many RDI homes
by providing construction financing and lowering the necessary
mortgage amount. More
Info - Visit
DHCD Website
• The Housing Assistance Council (HAC):
HAC has loaned RDI over $700,000 over the years to be used
for the acquisition and pre-development of building sites
to be developed and sold to low-income buyers. These funds
are crucial to RDI’s ability to purchase good building
lots. More
Info - Visit
Website
• Greenfield Cooperative Bank: The bank
participates as a private lender in the USDA/RD Rural Home
Loan Partnership Program. RDI’s clients sometimes
obtain part of their permanent financing from the Greenfield
Cooperative Bank. More
Info - Visit
Website
• The Life Initiative: The Massachusetts
Life Insurance Community Investment Initiative has provided
a long-term low interest loan to the Home Ownership Program.
RDI utilizes this fund for the acquisition of building lots
and construction cash flow.
• The National Grid and Western Massachusetts
Electric Company: These two power companies that serve
the Franklin County and North Quabbin region, support the
RDI through the Energy
Star Homes program. More
Info
• Franklin County Technical School (FCTS):
RDI has partnered with the Franklin County Technical School
in Turners Falls. This partnership has enabled RDI houses
to be learning laboratories for FCTS students while reducing
the cost of construction to homeowners. See
the students in action.
Over the years, RDI has developed partnerships with a diverse
group of organizations to make the program viable including:
• Massachusetts
Technology Collaborative
• Conservation
Services Group
• Franklin
County Regional Housing and Redevelopment Authority
• Citizens
Housing and Planning Association
• The
Enterprise Foundation
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