“Rural communities continue to struggle from the economic and housing crisis,” said Stabenow. “By helping rural families with homeownership, this recovery funding helps provide the foundation these families need to secure a place to call home. At the same time, the program helps create good-paying jobs, making it a win-win for Michigan.”

“Directing these economic recovery dollars to rural communities across Michigan will make it possible for many families to own their own homes and help put people back to work at the same time,” said Levin. “I am hopeful that providing an influx of funding for this program will help ensure that every family in Michigan has access to safe and affordable housing during tough economic times.”

Section 502 loans are primarily used to help low-income individuals or households purchase homes in rural areas. Funds can be used to build, repair, renovate or relocate a home, or to purchase and prepare sites, including providing water and sewage facilities.

USDA Rural Development housing programs are designed to improve the quality of life for rural Americans by ensuring that they have access to safe, well-built, affordable homes. The programs finance new or improved housing for very low- to moderate-income families and individuals in rural areas.