Program Description
The City of Warren in Macomb County is offering up to $28,000 to purchase and repair foreclosed homes. The City has Neighborhood Stabilization Program funds available to provide up to $5000 in down payment assistance to eligible homebuyers purchasing single-family foreclosed homes in the City of Warren's NSP target areas. The home must be your principal residence.
Use of Funds
Homebuyers must provide at least $1,000 of their own funds to be used towards the downpayment and closing costs. The City will provide a $5,000 forgivable loan which may be used towards the downpayment and/or closing costs.
In addition,$23,000 is available for immediate repairs prior to occupancy. Total assistance is $28,000.Homebuyer must comply with basic requirements set forth by the Community Development Committee.
Applicant Criteria
Applicants must meet the following criteria:
*Do not currently own a home
*Have the ability to qualify for a mortgage
*Househould Size and Maximum Household Income Requirements
Click here for more information
by Kimberly Harris,Licensed Michigan State Realtor
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