By By Georgia E. Frye / staff writer
May 29, 2003
Rush Health Systems announced a plan Wednesday to provide its employees with a $2,000 forgivable loan for a down payment or closing costs toward the purchase of a first home.
The loan is an effort to recruit and retain a talented work force and is sponsored by Rush Foundation Hospital and the Fannie Mae Corp. Fannie Mae is the largest source of financing for home mortgages in the nation.
U.S. Rep. Chip Pickering, R-Miss., was among those at an announcement ceremony at Rush. It was the first of several engagements and events Pickering attended in the Meridian area.
Mayor John Robert Smith also was on hand.
Smith said people who own their own homes are more likely to care about education and community activities.
Frank Farley, director of business development for Rush Health Systems, said $2,000 will cover a down payment as well as closing costs on a $40,000 home. He also said now is a good time to buy a home because interest rates are low and owning a home can be cheaper than renting.