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USDA Announces Polaris Home Funding as 3rd Largest RD Lender in Michigan

USDA Announces Polaris Home Funding as 3rd Largest RD Lender in Michigan

U.S. Department of Agriculture Rural Development kicked off this month by recognizing June as the ongoing role in supporting rural home ownership.

“Rural communities are rising to the challenge put forth by the coronavirus pandemic,” Brand said. “Under the leadership of President Trump and Agriculture Secretary Perdue, USDA is committed to being a strong partner in building prosperity in rural communities and for the people who call them home – especially those impacted by the COVID-19 pandemic.” – USDA Rural Development State Director for Michigan Jason Allen.

Allen goes on to say,

“Working with our partner lenders, USDA is helping rural Michigan families achieve the dream of home ownership,” said USDA Rural Development State Director for Michigan Jason Allen.  “Hundreds of lenders have participated in the program and it would be difficult to recognize them all, but I congratulate our leading lenders, Amerifirst Financial, Flagstar Bank, Polaris Home Funding and Mortgage 1, on their years of commitment to this program.”

In Fiscal Year 2019, USDA in Michigan invested more than $571 million to help 4,445 families and individuals buy a home. USDA also provided $2.4 million for home repairs to 435 very low-income rural residents.

Since the guaranteed loan program began in 1991, Michigan has obligated more than 100,000 loans totaling more than $10 billion, becoming the first state in the country to reach either of these milestones. USDA Rural Development provides loans and grants to help expand economic opportunities and create jobs in rural areas. This assistance supports infrastructure improvements; business development; housing; community facilities such as schools, public safety and health care; and high-speed internet access in rural areas.