Direct Loans

Michigan

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Direct Home Loans

Direct housing loans from Rural Development can be used to purchase a new or existing home. In some areas, eligible families can also help build their own home using a direct loan. Scroll down to learn more about these programs.

Self-Help Housing

The Mutual Self-Help Housing Program makes homes affordable by enabling future homeowners to work on homes themselves. With this investment in the home, or "sweat equity", each homeowner pays less for his or hew home. Each qualified applicant is required to complete 65% of the work to build his or her own home. This program is not available everywhere in the state.

Once accepted into the Self-Help Housing Program, each individual enrollee generally applies for a Single-Family Housing Direct Loan.

For your convenience, the Single Family Housing Prequalification Worksheet can now be accessed by clicking the link below:
Prequal Worksheet
(Rich Text Format version.)

RHS Eligibility Website

Income Limits

Homeownership Education Providers
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Loan Limits

Home Ownership Loans

Objective
Safe, well built, affordable homes for rural Americans.

Applicant
Families and individuals apply to Rural Development

Uses
Buy, build, improve, repair or rehabilitate rural homes as the applicant's permanent residence.

Population
Rural areas and populations of 10,000 or less.

Loan/Grant
Direct Loan

Terms/Conditions
Up to 100% of market value or cost, whichever is less. Loan amortized for 33 years. Applicant may be eligible for payment assistance (subsidy) on the loan.

Self-Help Housing Loans

Objective
Individual homes built by a group of applicants, with construction guidance of a non-profit organization.

Applicant
Families and individuals apply to Rural Development

Uses
Loan applications are processed on an individual basis for each participating family. Loan for site, material and skilled labor.

Population
Rural areas and populations of 10,000 or less.

Loan/Grant
Direct Loan

Terms/Conditions
The individual families receive a direct loan. The non-profit housing organization gets a grant to hire a supervisor and pay other administrative expenses.

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