1st Time Homebuyer / Foreclosure Prevention
Dreaming of owning a home?
NLSM is one of the approved agencies with certified MSHDA counselors and train staffs to provide homebuyer education to borrowers who are interest in obtaining a MSHDA mortgage to purchase their first home. This program, which coupled down payment assistance with homebuyer education and counseling, to expand MSHDA’s single family mortgage loans to lower income buyers while at the same time managing the greater risk of loan default. The down payment assistance and education services are designed to fill a dual role of helping families to purchase homes and to sustain homeowner over the long run.
NLSM is proud to be one of the participating agencies who advocates in assisting Michigan’s Hardest-Hit Homeowners through Step Forward program. This program provides up to a $30,000 interest free loan to assist with mortgage, property taxes, and or condominium association fees. This program may be used to reinstate the delinquent balance(s) if an eligible hardship caused the delinquency.
*The Michigan Homeowner Assistance Nonprofit Housing Corporation (MHA) was created by the Michigan State Housing Developing Authority (MSHDA)