If by chance you're a first time buyer in Gregory MI and you're looking for a 0 down mortgage loan, you'll notice you have a few opportunities. All of these choices will have direct guidelines that must be met allowing you to put zero down when buying your first house. Below you will see a list of opportunities available to first time buyers in Gregory Michigan.
The Michigan USDA Rural Development LoanThe first choice for a zero down mortgage is the United States Department of Agriculture's Rural Development home loan. This home loan allows zero down but is subject to an up front mortgage insurance premium and it also has geographic and income guidelines. Call Michigan Mortgage Solutions at 248-674-6450 and mortgage broker will inform you if the USDA RD mortgage loan is a good fit for you.
MSHDA Down Payment AssistanceAnother thing to consider on zero down home loans for 1st time home buyers in Gregory Michigan is checking out state departments as in the MSHDA. MSHDA has services for down payment aide that can be offered along with FHA home loan financing. The financial aid could be $7,500 and will not force you to send any payment nor does it collect interest but it absolutely must be paid off if you happen to refinance or sell the house. There happen to be other rules to the MSHDA down payment assistance program such as your mortgage total and your gross income as it is created to assist those with lower to moderate salaries.
Local or Federal GrantsThe last opportunity available on zero down home loans for first time home buyers in Gregory Michigan is to look into any federal money assigned to Gregory for neighborhood rehabilitation programs. You could observe more regarding the opportunities that will be offered in your county by reaching out to your townships community development representative which could be easily found on the internet.
If you'd like more info on zero down home loans for first time home buyers in Gregory Michigan call 248-674-6450 right now!