First Time Homebuyers

Buying a home does so much more than provide a basic need to the family.  It creates financial wealth and reduces the family’s tax burden.   The process of purchasing a home can feel complicated to first-time homebuyers.  What are the required steps to making a successful loan application to qualify for a mortgage?  What is the mortgage lending process? How to avoid predatory lending?

There are a number of education and counseling programs available to first-time homebuyers to help them navigate the path to homeownership, including programs that help families afford their first down payment.

 

HomeStretch
HomeStretch is a nonprofit regional developer of affordable housing serving the counties of Antrim, Benzie, Grand Traverse, Kalkaska, and Leelanau.
3104 Logan Valley Road, Ste 300
Traverse City 49684
947-6001

Greenpath, Inc.
Homebuyer Education, Money Debt Management, Postpurchase Counseling, Predatory Lending Counseling, Renters Assistance, Services for Homeless
10850 E Traverse Hwy, Ste 2280
Traverse City 49684
(888) 860-4167
www.greenpath.com

Northwest Michigan Community Action Agency
Homebuyer Education, Financial Management Education, Credit Repair Counseling, Home Inspection Funds, Home Maintenance Training, Predatory Lending Counseling Foreclosure Prevention Counseling, HELP Loan Counseling, HUD Referral Counseling
3963 Three Mile Rd
Traverse City 49686
947-3780
(800) 632-7334
www.nmcaa.net

Down Payment Assistance
0% interest, non-amortizing loan for down payment up to $7.500 with no monthly payments. Available with MSHDA’s FHA or Rural Development first mortgage.

Graduate Purchase Assistance
Offers reduced and fixed-rate conventional home loans to college graduates from accredited institutions, who meet MSHDA’s sales price and income limit eligibility guidelines.

Loan Products
MSHDA offers a variety of loan products for
low to moderate-income homebuyers.


 

Single Family Housing Program
Provides homeownership opportunities to low and moderate-income rural Americans through loan and guarantee programs. Provides loan and grant funding for vital improvements to current homes.
1501 Cass St, Ste A
Traverse City 49684
941-0951
(800) 944-8119