USDA Commemorates Michigan’s 75,000th Guaranteed Home Loan

Name
Alec Lloyd
City
East Lansing
State
Michigan
Release Date
Jun 22, 2015

U.S. Dept. of Agriculture Rural Development State Director for Michigan James J. Turner today commemorated the 75,000th Guaranteed Home Loan in Michigan at the home of Brian Ellison in Cedar Springs.

“USDA Rural Development in Michigan leads the nation in helping families achieve the American dream of homeownership,” said Turner.  “Today’s ceremony symbolizes how we are working with rural residents to build a better future together.”

Ellison’s home is the 75,000th purchased through USDA Rural Development’s Single Family Guaranteed Home Loan program and certificates were presented to him, lender Mortgage 1, Inc. and Home Run Real Estate.

Established in 1991, the program has provided more than $7.1 billion for home loans in Michigan.  Since 2009, an average of 6,600 Michigan families per year have received a Guaranteed Home Loan through USDA Rural Development.

Eligibility for the program is limited to rural areas with populations of 20,000 residents or less and can be used for new or existing homes.  The USDA Guaranteed Home Loan program is one of the few that requires no down payment.  Additional information on participating lenders and eligible properties are available online at www.rd.usda.gov/mi or can be obtained by contacting USDA Rural Development in Michigan toll-free at 800-944-8119.

USDA Rural Development State Director for Michigan James J. Turner was appointed by President Barack Obama in 2009.  USDA, through its Rural Development mission area, has a portfolio of programs designed to improve the economic stability of rural communities, businesses, residents, farmers and ranchers and improve the quality of life in rural America. Under the Obama Administration, USDA Rural Development has invested more than $6.5 billion in Michigan projects.