USDA Recognizes Top Housing Partner Lenders in Michigan

Monday, June 26, 2023

The U.S. Department of Agriculture (USDA) has recognized the top lenders in Michigan who have helped people in rural areas buy homes. These lenders have done a great job in assisting residents in finding their own homes, which is an important step towards achieving the American Dream of homeownership.

In the last fiscal year, the USDA invested over $393.7 million to help 2,649 families and individuals in Michigan purchase homes. This investment shows their commitment to making housing more affordable for rural communities.

The USDA also helps people find affordable rental housing in rural America. They currently provide rental assistance to nearly 308,000 households, ensuring that low-income and elderly tenants pay no more than 30% of their income on housing costs. This assistance helps make sure that people can afford a safe and comfortable place to live.

The USDA is working with lenders and community partners to make homeownership more accessible to rural Americans who have not had the same opportunities in the past. They are hosting events across the country to showcase affordable housing programs to lenders, community partners, and individuals and families who are interested in owning a home.

The USDA has different programs to help people with homeownership:

1. The Direct Home Loan Program provides loans directly to families and individuals, so they can buy or build homes in rural areas.

2. The Guaranteed Loan Program allows the USDA to work with private lenders and support their loans, helping families and individuals buy homes in rural areas.

3. The Home Repair Loan and Grant Program offers loans and grants to help people repair their homes and make them safer and healthier places to live.

4. The Mutual Self-Help Housing Grant Program provides grants to organizations that help with local self-help housing construction projects.

If you want to learn more about USDA homeownership programs in your area, you can visit their website or get in touch with your local Rural Development State Office.