Rural Educator and American Community Housing Act of 2012 - Amends the Consolidated Farm and Rural Development Act to authorize the Secretary of Housing and Urban Development (HUD) to provide grants, loan guarantees, or other financial mechanisms to eligible educators, medical providers, and public safety officers to carry out a qualified project in a qualified community.
Defines a "qualified project" as: (1) the construction, modernization, renovation, or repair of qualified housing for such eligible individuals; (2) the payment of interest on bonds or other financing instruments (except refinancing instruments) issued for such activities; or (3) the repayment of a loan used for such construction and so forth, or to purchase or lease real property for qualified housing purposes.
Defines a "qualified community" as any open country, or any place, town, village, or city that is not part of or associated with an urban area and that has a population between 2,500 to 10,000, and is not accessible by a motor vehicle.
Authorizes the State Director of Rural Development for a state to evaluate for the Secretary any application for a qualified project in the state. Requires the Secretary to take the evaluation into consideration in determining whether to provide such assistance.
Requires the Secretary to give priority to: (1) a state education agency (SEA) or local educational agency (LEA), (2) a state or local housing authority, (3) an Indian tribe or tribal organization, (4) a tribally designated housing entity, (5) a local government, or (6) a consortium of any such entities.