Homebuyer Assistance Program

Homebuyer Assistance Program Description and Services
The CNH Homebuyer Assistance Program is a buyer-based program that links CNH's services with the services of local lenders, realtors, contractors, title companies and other housing development entities.  Families seeking assistance are encouraged to apply and then are individually matched to the services listed below that best fit their situation.  

Homebuyer Assistance Program Services

a.   Up to $10,000 down payment/closing cost assistance at time of  close for qualified purchasers.
b.   Up to $25,000 for renovations/additions performed by local contractors for qualified purchasers, for properties in Newaygo County target areas (see below). 
c.   Up to $30,000 gap financing on new homes built for qualified purchasers in Newaygo County target areas (see below). 
d.   Free pre-purchase, financial management and home maintenance classroom education
e.   Free individual counseling to help with credit analysis, debt analysis, affordability analysis, and building a credit history. 
f.    Free individual assistance with mortgage application and closing process.
g.   Lead based paint risk assessment and lead remediation of homes built prior to 1978 using state certified inspectors and contractors.
h.   Process loan applications to rural development for a 502 Direct mortgage if chosen by applicant.                                                             i.    Referral to home inspection services, paid by CNH in some cases.  

CNH currently offers families personal assistance with credit analysis, debt analysis, budgeting and housing affordability analysis.  The purpose of credit counseling is to assist families to understand their financial situation, prepare them to qualify for an affordable mortgage, and manage their own finances.  Copies of credit reports, current debt ratio, collections and other related information are shared and reviewed with applicants (within the limits of the law) to ensure they understand their financial situation.  This information is also shared with the Family Selection Committee to provide guidance in order to assign the most appropriate set of CNH services given the individual circumstance of the applicant.

Target Areas 

Target Areas – all projects must be located in a target area, which consists of the cities of White Cloud, Fremont, Newaygo and the villages of Grant and Hesperia  in order to receive up to $10,000 for down payment and closing costs assistance, and up to $25,000 for renovation assistance funded by HOME grant dollars in Newaygo County. New construction homes must also be located in a target area.

 Eligible families may still qualify for LINKS funded homebuyer education classes, financial management classes, home maintenance classes,  individual counseling, home inspections, credit repair, and up to $5,000 in down payment and closing costs regardless of where the home they purchase is located in the State of Michigan.