Rural Housing Site Loans in Michigan

Rural Housing site loans provide two types of loans to purchase and develop housing sites for low- and moderate-income families. Section 523 loans are used to acquire and develop sites only for housing to be constructed by the Self-Help method. Section 524 loans are made to acquire and develop sites for low- or moderate-income families, with no restriction as to the method of construction. Eligible applicants include private or public non-profit organizations and Federally-recognized Tribes. Non-profits must have the legal authority to operate a revolving loan fund and the financial, technical, and managerial capacity to comply with relevant federal and state laws and regulations. Applications for this program are accepted year round through the State USDA Rural Development office.