MI RD Form 3550-2-2026

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  1. Click ‘Get Form’ to open MI RD Form 3550-2 in the editor.
  2. Begin by filling out the contact information for the real estate agent or contractor at the top of the form, including phone number, fax number, and email address.
  3. Next, provide details for Applicant #1. Enter their full legal name, social security number, marital status, age, and daytime phone number. Indicate family size and list dependents if applicable.
  4. Repeat the process for Applicant #2 if applicable. Ensure all fields are completed accurately to avoid delays.
  5. Fill in the present address section, indicating whether you rent or own your current residence. Include landlord information if renting.
  6. Complete the monthly income and combined housing expense section by detailing all sources of income and monthly debts for both applicants.
  7. Finally, review all entered information for accuracy before signing and dating the certification section at the end of the form.

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While theres no legal limit on how much you can give for this purpose, lenders may require a formal gift letter, proof of funds, and a copy of your ID to confirm the money doesnt have to be repaid.
You do not need to declare cash gifts you receive on a self assessment tax return. There may be inheritance tax implications for you and the person who has given you this gift, particularly if the donor (giver) of the cash gift dies within seven years of making the gift.
A gift letter is a formal document proving that money you have received is a gift, not a loan, and that the donor has no expectations for you to pay the money back. A gift can be broadly defined to include a sale, exchange, or other transfer of property from one person (the donor) to another (the recipient).

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The first element is the donors intent to permanently transfer ownership of the donated property without the expectation of getting anything in return. The second element that must be proven is the actual delivery of the property to the recipient. A promise to deliver some item of property in the future is not a gift.
(21) Attached is/are signed Form 3550-1 Authorization to Release information (one for each household member who is 18 years of age or older). By submitting these releases, I authorize Rural Development to order an in file credit report (at no cost to me) that may be used to counsel me regarding loan opportunities.

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