If you happen to be a 1st time buyer in Commerce Township MI and you're interested in a 0 down mortgage, you'll notice you have a few opportunities. Every one of these opportunities provide direct guidelines that should be met if you want to put zero down when mortgaging your home. Below you will become aware of a several choices available to you as a first time home buyer in Commerce Township Michigan.
The Michigan USDA Rural Development LoanThe first option for a 0 down mortgage loan is the USDA's Rural Development mortgage loan. This home loan allows zero down but is the beneficiary of an up front mortgage insurance premium and it also has geographic and income restrictions. Call the pros at 248-674-6450 and Michigan Mortgage Solutions can let you know if the USDA Rural Development mortgage loan is a good fit for you.
MSHDA Down Payment AssistanceAnother thing to think about on zero down home loans for first time home buyers in Commerce Township Michigan is working with state departments as in the MSHDA. MSHDA has services for down payment aide that can be used along with FHA loan lending. This assistance could total up to $7,500 and doesn't force you to make any monthly payments nor does it accrue interest but it must be paid in full if you need to refinance or sell the home. There happen to be other restrictions to the MSHDA down payment assistance program such as your loan amount along with your wages as it is designed to help buyers with low to moderate salaries.
Local And Federal Grant MoneyThe last opportunity available on zero down home loans for first time home buyers in Commerce Township Michigan is to inquire about any federal money granted to Commerce Township for neighborhood stabilization programs. You could observe more about the programs that may be allowed in your county by contacting your countys community development office which can be found in Google.
If you are looking into zero down home loans for first time home buyers in Commerce Township Michigan call 248-674-6450 ASAP!