What are Michigan Rural Development loans?

Under the Guaranteed Loan program, individuals or families receive financial assistance from Rural Development in the form of a home loan at affordable interest rates and terms.

Most of the loans made under the Guaranteed Loan program are to families with income below 80% of the median income level in the communities where they live.  Since Rural Development (RD) is able to make loans to those who will not qualify for a conventional loan, RD enables many more people to buy homes that might not otherwise be possible.  Guaranteed Loans may be used for the purchase of an existing home or for new home construction.

Don’t be fooled by the word “Rural” in the name.  There are thousands of towns eligible and it’s easy to check if your area qualifies.  It’s only the metropolitan areas that are ineligible for this great program.

Contact me to see if you qualify for a conventional Michigan rural development loan.  I am fully licensed in the state of Michigan and can work with anyone, anywhere in the state.

This is what James said about working with me:

I have been working with Kelly since the first home I bought years ago.  She has never failed in finding me a fair mortgage that was affordable with good terms.  I have been especially blessed to work with Kelly Dais on my latest endeavor.  With her help, she made it possible for us to save almost $200 a month on our current mortgage.  Additionally, she got us approved to buy a second home so that we could rent out our current home.  I have had nothing but good experiences with Kelly, and I would come back in a heartbeat.  Don’t think twice, they will help you with your dream too.

What are the benefits of a Michigan Rural Development loan?

The highlights of a loan being Rural Development Michigan are:

  • No down payment
  • No monthly mortgage insurance required
  • Closing costs may be financed into the loan amount

Some of the requirements of a rural development loan in Michigan are:

  • Can’t currently own a home
  • Household income cannot exceed the maximum allowable income limit
  • Have acceptable credit history
  • Have a current income source

Contact me to discuss a Michigan Rural Development loan

Contact me to discuss whether you qualify for a Michigan Rural Development loan.  Call me at 989.245.2230 or e-mail me at kdais@newexecmtg.com

Click on the links to learn more about Conventional Michigan home loans or Michigan FHA loans.

Click this link for Michigan Refinance options.

Contact

Kelly Dais
989.245.2230 or
KellyDais@newexecmtg.com