Home Ownership Program
HomeStretch builds attractive high quality energy efficient homes with grants from the Michigan State Housing Development Authority and low interest loans from other project partners. Upon completion, the homes are then sold to income eligible families and individuals. In general, the prospective homebuyer must live or work in one out of five service area counties, have an income that is equal to or less than 80% of the area median income, not currently be a homeowner, and qualify for a conventional mortgage. HomeStretch does not provide financing for home purchase. A 1% down payment is required.
Please go to the Income Guidelines link for the maximum income guidelines for each county that we serve. It is based on household size and must include the combined income for all household members. To be considered as an applicant, please print out a copy of the instructions, the home purchase application and required MSHDA forms or call us at 231-947-6001 to have a complete package mailed to you. Currently, the following properties are available:
Please go to the Income Guidelines link for the maximum income guidelines for each county that we serve. It is based on household size and must include the combined income for all household members. To be considered as an applicant, please print out a copy of the instructions, the home purchase application and required MSHDA forms or call us at 231-947-6001 to have a complete package mailed to you. Currently, the following properties are available:
11171 Main Street, Honor, Benzie County, Michigan
This 1,400 square foot home has 3 bedrooms, 2 baths, 2 car garage & all necessary kitchen appliances. It is 5 Star Energy Efficient and meets handicapped visitability standards. $95,000
For more info, please click HERE. With MSHDA Homebuyer subsidy, you could purchase this home for as little as $424 per month.
For more info, please click HERE. With MSHDA Homebuyer subsidy, you could purchase this home for as little as $424 per month.
1725 Woodward Avenue, Traverse City, Grand Traverse County, Michigan
This two story townhome has 3 bedrooms, 1.5 baths, a full basement, single car garage and all necessary kitchen appliances. It is 5 Star Energy Efficient - built in 2005. $108,000.
With MSHDA Homebuyer subsidy, you could purchase this home for as little as $477 per month.
With MSHDA Homebuyer subsidy, you could purchase this home for as little as $477 per month.
