NIP funds are for home repair including replacement of roofs, windows, furnaces, etc.Īccessibility Modifications Program (AMP)
Provides rehabilitation assistance to qualified homeowners. Proceeds can be used for down payment and/or closing cost assistance. Provides assistance to first time home buyers (prior homeowners may qualify subject to certain criteria). The Federal Home Loan Bank of Indianapolis (FHLBI) offers three Homeownership Initiatives through member banks to assist in the creation and preservation of affordable homeownership in Michigan and Indiana.Īs a member of the FHLBI, Eastern Michigan Bank has access to the following grant programs for home purchases and renovations in our market area: Homeownership Opportunities Program (HOP) The largest private source of grant funds for affordable housing in the United States is the Federal Home Loan Bank’s Affordable Housing Program (AHP). Clair County and $78,200 for Sanilac and Huron Counties. *As of, income caps for a household of four are currently $81,650 for St. Rural Development Guarantee fee of 1% up front and 0.35% annually.įor additional information, please contact your local branch or call our Loan Center at (800) 397-2504. 
No down payment required but you will still need to have funds available for closing costs, pre-paid taxes, insurance, and escrow account setups. Borrowers must meet all credit and underwriting requirements. Borrower’s household income cannot exceed the income cap for the county where the property is located.*. Property must be a single family dwelling and borrower’s primary residence. 
Visit to find out if your specific property is in a designated area.
Clair County surrounding Fort Gratiot, Port Huron and Marysville are eligible, as well as all of Sanilac and Huron Counties.
Property securing the loan must be in a USDA designated rural area.
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