Programs are available through the government to help potential homebuyers get a loan or assist in fixing up their current home.
The three programs are Guaranteed Housing, Direct Housing, and Single Family Repair programs offered through USDA Rural Development.
State Director Jason Allen says helping residents to own their own home is an important part of improving Michigan’s economy. “We know that quality of life in rural communities do better when people own their own homes,” said Allen. “They take personal responsibility. They take pride in ownership. And as part of the American dream, we are a tool to help facilitate that goal of home ownership.”
The Single Family Repair loans can be used to help with energy efficiency improvements for qualified applicants. “What this does is this allows families to get a second mortgage on their home—we have some grant money available—that allows them to get at a subsidized interest rate, resources for new windows, insulation, sanitary-sewer upgrades, furnace or utility types of work, or roofs,” Allen said.
Loans are available for eligible residents year round and applications can be obtained by contacting the USDA or a local mortgage lender.
For more information on each program, click on the following links:
- Guaranteed Housing
- Direct Housing
- Single Family Repair