U.S. Department of Agriculture Rural Development State Director for Michigan Brandon Fewins today announced the top partner lenders in Michigan through the Single Family Housing Guaranteed Loan Program as part of National Homeownership Month.
“At USDA, we want to find a place that everyone can call home,” said Fewins. “We are grateful to our partner lenders for their continued support in helping rural Michigan residents achieve the American Dream of homeownership.”
Michigan’s top five partner lenders are: Amerifirst Home Mortgage, Mortgage 1, Mortgage300 Corp., Union Home Mortgage Corp., and Flagstar Bank.
In Fiscal Year 2021, USDA in Michigan invested more than $669.7 million to help 4,671 families and individuals buy a home.
In addition, USDA works to increase access to affordable multifamily rental housing opportunities in rural America. The Department is currently helping nearly 300,000 tenants afford to pay their rent through rental assistance. This assistance ensures low-income and elderly tenants pay no more than 30% of their income in rent. For more information, visit Multifamily Housing Programs | Rural Development (usda.gov).
USDA is also highlighting ways it is working with lenders and community partners to open the door to homeownership for rural Americans who have been unserved or underserved for far too long. USDA is hosting events across the nation to showcase affordable housing programs for lenders, community partners, families and individuals. USDA’s single family housing programs are:
- The Single Family Housing Direct Home Loan Program provides loans directly to families and individuals so they can buy or build homes in rural America.
- The Single Family Housing Guaranteed Loan Program enables USDA to partner with private lending institutions, backing their loans to help families and individuals buy homes in rural areas.
- The Home Repair Loan and Grant Program provides loans and grants to help families and individuals repair their homes to make them safer, healthier places to live.
- The Mutual Self-Help Housing Grant Program provides grants to qualified organizations to help them carry out local self-help housing construction projects.