If by chance you're a 1st time home buyer in Harrison Township MI and you're interested in a 0 down mortgage, you'll notice you have several opportunities. Each of these opportunities have direct guidelines that must be followed if you want to put zero down when mortgaging your house. Below you'll find a couple options available to first time buyers in Harrison Township MI.
The Michigan USDA Rural Development LoanThe first choice for a 0 down payment mortgage is the United States Department of Agriculture's RD mortgage. This home financing requires zero down but is subject to an up front mortgage insurance premium and it also has income & geographic guidelines. Call Michigan Mortgage Solutions at 888-665-2630 and loan officer can inform you if the United States Department of Agriculture RD mortgage loan is a good fit for you.
MSHDA Down Payment AssistanceAnother thing to consider on zero down mortgage loans for first time home buyers in Harrison Township Michigan is working with state programs as in the Michigan State Housing Development Authority. MSHDA has programs for down payment aide which can be used along with Federal Housing Administration mortgage financing. The assistance can be up to $7,500 and does not force you to send any payment nor will it collect interest but it absolutely must be paid back when you want to refinance or sell your house. There are other guidelines to the MSHDA down payment assistance program like your loan amount along with your income as it is designed to assist buyers with low to moderate incomes.
Local or Federal GrantsThe last option I know of on zero down home loans for first time home buyers in Harrison Township Michigan is to look up any federal dollars assigned to Harrison Township for neighborhood rehabilitation programs. You could find more about the opportunities that are allowed in your city by reaching out to your county's community development office which can be easily found online.
If you're looking into zero down home loans for first time home buyers in Harrison Township Michigan call 248-674-6450 ASAP!