Michigan Low Income House Loans
Michigan Low Income House Loans
trying to buy a house?
we are a low income family. right now we are in a home thats a land contract but the taxes are way too much here. so we gotta move but we dont have a lot of money. i have heard of a thing called HUD that helps with rental assistance and also offers home loans for low income families with cheap mortage and little or no interest. does anyone know how i can contact something like that? i live in michigan
HUD does not do its own financing directly to consumers. They do block funding, which means they designate an area eligibile and then give a large grant to some branch of the local city/country government program doles out the money and determines who is eligible. I received $10,000 toward the purchase of my first home under a HUD program. I live in a neigbhorhood that is horrible but the reason HUD designated it in the first place was to try and bring the neighborhood back from the brink and re-seed it with people who owned their own homes. Check with your local city zoning/housing office to see if any area close to you is designated for block grant funding or maybe it's listed on the HUD website.
A good program for you to check out also is www.naca.com.
They are a non-profit housing advocacy group that does their own fixed rate mortgage lending. They got their money from suing a bank for predatory lending and winning. Now they use that money to help people get their first home and achieve the American dream.
good luck!
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