Abstract: This article aims to analyze the focus of different stakeholders’ pursuit of the homestead “use efficiency”. Taking the unity of the three kinds of behavior as the starting point, benefit allocation among the nation, financial institutions and farmers was analyzed under the background of the lack of land property rights. Different benefits from three levels were quantified and significant higher indexes were chosen using the binary Logistic model and the Wald method in SPSS software. The results showed that the farmers’ behavior had the general characteristics of “rational economic man”, but also had blindness, so it was difficult to maintain the steady development. Financial institutions could not implement the relevant operation of homestead mortgage within the framework of the relevant laws and regulations. At the same time it was hard to evaluate the value of the homestead objectively. Government needed to perfect the relevant laws and regulations for rural homestead entering the market, promote infrastructure construction, increase rural assets value, improve farmers’ ability of resisting risks and repaying the loan. The pointcut for rural homestead mortgage entering market was the establishment of “law” and the determination of “right”.