Housing
Programs:
MSHDA Schoolcraft
County 2006/2007 Housing Rehabilitation Grant:
$125,000 in grant funds is currently being
used to rehabilitate homes throughout Schoolcraft
County. This grant is to provide assistance
to owner occupied homes within the county. This
is a 0% interest deferred loan for up to $25,000.00.
Based on the household size (number of people
living in home) and gross income, it is determined
the amount of assistance that is available for
each project. As with our other grants, applicants
must be income eligible, property taxes must
be paid up to date along with homeowners insurance
and applicants must have occupied the home for
12 months.
All work is performed by licensed and insured
contractors who have been trained in Lead-Base
Paint. Typical rehab work includes but is not
limited to roofs, siding, windows, electrical,
plumbing, & heating.
To access the documents necessary for this program,
, click here: Homeowner
Rehab forms
Emergency Funding:
Emergency funding is available on a “first
come basis”. Homeowners that have an emergency
arise should contact our office to discuss the
eligibility requirements.
MSHDA Homebuyer Down Payment
Assistance with Rehab:
Are you ready to purchase a home but having
difficulty coming up with the down payment and
closing costs? Qualified applicants can receive
up to $10,000.00 for down payment and closing
costs to purchase a home in Schoolcraft County
with an additional $20,000.00 available to assist
with rehabilitation of the home. The buyer must
be able to obtain a mortgage from a financial
institution and contribute at least 1% of the
sales price of home toward the down payment.
Maximum sales price is $132,000.00. Homebuyer
must maintain & occupy home as primary residence,
and keep property taxes and homeowner insurance
paid.
To access the documents necessary for this program,
click here: Homebuyer
DPA forms
MSHDA Links to Home Ownership
Grant:
The SCEDC staff consists of a
MSHDA trained certified credit counselor, Laurie
Jasmin. With down payment assistance counseling
and financial management classes we are able
to assist families that cannot purchase a home
because of credit issues in their past. The
families must be able to provide us with a reason
for the delinquency such as loss of job, divorce,
death in the family, etc., and 12 months of
good credit immediately before or after the
delinquency. The family must qualify for a MSHDA
mortgage within one year of starting the counseling.
Please call our office for further details on
this program.
MSHDA’s Property
Improvement Program (PIP):
Pip is a low cost loan and can
assist low to moderate income homeowners with
financing property improvements. The PIP interest
rates vary depending on the household income,
as low as 4% up to a maximum of 8%. Depending
on your financial ability and amount borrowed,
the payments can be stretched out up to 20 years
to fit your budget. You decide what kind of
repairs or improvements are needed for your
home or rental property. You may even be able
to do some of the work yourself, financing only
the cost of the materials (but not your own
labor).
To obtain more information on this program,
please call our office.
The Schoolcraft County EDC guarantees Equal
Housing Opportunities in accordance with the
Federal Fair Housing Law. We do not discriminate
based on age, sex, color, national origin, race,
religion, handicap, marital or family status.
For More Information Contact:
Laurie Jasmin, Manger
Program Specialist/MSHDA Credit Counselor
scedc@charterinternet.com
300 Walnut Street, Room 123
Manistique, MI 49854
Phone: (906) 341-5126
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