Hometown Housing Partnership

Housing Rehabilitation and Improvement Program (HO Rehab)

hometownhousing — Thu, 19 Jan 2012 19:42:51 +0000

What is it?

Up to $24,999 to income qualified homeowners in the City of East Lansing to rehabilitate, improve

and weatherize their homes.

Eligible improvements include:

_ Code violations;

_ Weatherization (insulation, roofing, windows to improve the energy efficiency of the home);

_ Lead Based Paint hazard assessment and remediation; and

_ Barrier free and accessibility improvements.

Not all requested improvements can be made. HHP and the client will review the requests and

determine a scope of work. Code violations and LBP items will be addressed first.

Who is eligible?

_ City of East Lansing homeowner. Must live in the property and not use for rental purposes;

_ At or below 80% AMI ($52,700 for household of 4);

_ Homeowner Insurance and property taxes must be up to date and remain current;

_ Home cannot be in the floodplain;

_ Must be a single-family residence.

How does the program work?

1. Client meets with HHP to discuss the program and determine the feasibility of the project.

2. Client submits a complete application to HHP.

3. HHP determines eligibility through third-party income and asset verification.

4. Upon eligibility determination, HHP inspects the home for code violations, structural and

systems defects.

5. Based on inspection, HHP drafts a scope of work and an estimate of this work.

6. HHP and client agree on work specifications.

7. HHP releases bid package to minimum of three (3) general contractors.

8. Lowest responsible bid is chosen.

9. HHP schedules a closing for the second mortgage and note with client.

10. HHP schedules a contract conference between HHP, contractor and the client to review specs

and sign construction contract.

11. HHP manages all draws and inspections.

Funding:

The HO Rehab Program is funded by the City of East Lansing CDBG dollars. These dollars are

secured through a second mortgage (no interest, no payments) and a promissory note. These dollars

forgive at a rate of 10% per year up to a maximum of 50% forgiven. Client repays the amount due at

time of sale or transfer of the property.

Property Improvement Program (PIP)

hometownhousing — Mon, 26 Sep 2011 16:21:51 +0000

The Federal Dept. of Housing and Urban Development (HUD) and the Michigan State Housing Development Authority (MSHDA) make it easier for consumers to obtain affordable home improvement loans by insuring loans made by private lenders to improve properties that meet certain requirements. The PIP program insures loans to finance light or moderate property improvements that protect or improve the basic livability or utility of the property. The program may be used to insure such loans for up to 20 years, with a maximum loan amount of $25,000 for improving a single-family home. The Hometownhousing Partnership serves as an agent to initiate and process MSHDA’s low-interest loans for owner-occupied homes in Ingham County. Home improvement loans may be available for single-family homeowners with annual household incomes up to $74,750, or for landlords on rental units that comply with MSHDA (Michigan State Housing Development Authority) rent limits. A credit score of at least 620 is required.

How does the program work?

1. Client meets with HHP to discuss the program and determine the feasibility of the project.

2. Client submits a complete application to HHP.

3. HHP submits initial application to MSHDA for approval.

4. Upon eligibility determination, HHP submits loan application to First lndependence Bank in Detroit for processing.

5. MSHDA receives client file from Bank and reviews and approves.

6. Upon MSHDA approval, Bank prepares closing documents and sends to HHP.

7. HHP administers the closing.

8. Bank issues funds for the project to HHP to be placed in escrow.

9. HHP disburses funds to the contractor as requested by client.

10. HHP performs final inspection of the property prior to final payment draw.

11. HHP files appropriate paperwork with Bank to close the file.

12. Mortgage to secure the funds is serviced by MSHDA.

To apply, contact the Hometownhousing Partnership (see the column on the left) and fill out the PIP application.

Wolf Court New Construction

hometownhousing — Fri, 23 Apr 2010 20:26:38 +0000

New construction on vacant land.
Down payment assistance is available.
Second mortgage is forgiven incrementally up to 50% over 7 years.
Low/Moderate Income Requirements.

Please view more details about the Homeownership Opportunity Assistance Program in the PDF below. Feel free to download it and use it as your reference.To apply, please proceed to to the application page.

For more information please click here HOAP I Guidelines

Employer Homeownership Opportunity Program

hometownhousing — Fri, 23 Apr 2010 20:25:50 +0000

Down payment assistance program for employees of MSU or City of East Lansing.
$5,000 forgivable loan per unit.
Home must be in the target neighborhoods. Map of EHOP Eligible Areas
Not an income qualified program

To apply, please contact the appropriate Human Resources Department.

For City of East Lansing employees (517) 319-6893.

For MSU employees (517) 353-4434.

Application

hometownhousing — Fri, 23 Apr 2010 20:23:25 +0000

In order to apply for one of our programs, please download and complete the following documents. The Checklist of Documents outlines the required paperwork to be submitted in addition to those provided. Upon completion of the application packet please call our offices to schedule an intake appointment. Feel free to contact HHP at any time during the application process should you have questions or concerns.

Home Purchase with Rehabilitation

hometownhousing — Fri, 23 Apr 2010 00:37:27 +0000

Primarily a rehabilitation assistance program focused on returning blighted or obsolete units to the market.
Rehabilitation assistance up to $20,000 to include lead and all major systems and mechanical work. Unit must be brought to code.
DPA up to $10,000 per unit.
Second mortgage is forgiven incrementally over 10 years at a rate of 1/120 per month.
Best unit candidate is an abandoned, obsolete, or blighted home that requires major construction but is competitively prices.
Low/Moderate Income requirements

Please view more details about the Home Purchase with Rehabilitation program in the PDF below. Feel free to download it and use it as your reference.

To apply, please proceed to to the application page.

To view the full guidelines click here HPR guidelines

Avondale Square Program

hometownhousing — Fri, 23 Apr 2010 00:33:38 +0000

Please view more details about the Avondale Square program here Avondale Guidelines.

Significant down payment assistance for new build construction in Avondale Square; attached and detached units.
Up to $34,000 down payment assistance per unit available
Client works with Mayberry Homes to spec out the unit.
Attached units are not eligible for FHA primary mortgage.
Low/Moderate Income requirements.

To apply, please proceed to to the application page.

Homeownership Opportunity Assistance Program II (HOAP II)

hometownhousing — Fri, 23 Apr 2010 00:00:00 +0000

Please view more details about the Homeownership Opportunity Assistance Program in the PDF below. Feel free to download it and use it as your reference.

Primarily a down payment assistance program focused on funding the gap between what a client can afford and the cost of an East Lansing home.
Down payment assistance up to $25,000 is available per unit; the average DPA is approximately $20,000.
Rehabilitation assistance up to $5,000 is available per unit. These dollars are used to avoid any costly mechanical or systems investment for the coming five years.
Up to $5,000 grant for lead paint abatement.
Second mortgage is forgiven incrementally up to 50% over 7 years.
Best unit candidate is a move-in ready home with higher price tag.
Low/Moderate Income Requirements

To apply, please proceed to to the application page.

To view the full guidelines click here HOAP Guidelines

Central/Chesterfield Hills

hometownhousing — Wed, 14 Apr 2010 13:08:24 +0000

Region:

Central

Description:

Centrally located, we’re within easy walking distance to MSU campus, downtown East Lansing, and Frandor Shopping Center; convenient bus lines run on Grand River Avenue and Michigan Avenue. Our children walk to Glencairn Elementary school, while our student residents and university staff enjoy a short commute to campus. We are home to such popular businesses as Harrison Roadhouse, Altu’s Ethiopian Cuisine, Archives Book Shop, Petra Flowers, Studio de Danse and Quality Dairy. Our neighborhood park – Ehinger Park – is nestled in the middle of our community with a one-of-a-kind custom playhouse, play equipment, picnic tables, and room for soccer.

Our

Boundaries:

Grand River Avenue, Harrison Road, Michigan Avenue, Highland Avenue

Local Schools:

K-4: Marble Elementary
5-6: Glencairn Elementary
7-8: MacDonald Middle School
9-12: E.L. High School

Local Parks:

Ehinger Park
Ranney Park
Red Cedar Golf Course

Red Cedar

hometownhousing — Wed, 14 Apr 2010 13:07:36 +0000

Region:

Southwest

Description:

Although relatively small, with 250 households, people from around the world call this neighborhood home. We are a quiet, safe, welcoming area with a mix of all ages, professions & interests. Our neighborhood elementary school includes children from MSU campus housing from over 40 countries, making it a true global community.

Housing is affordable and varied in architectural style. Different from the traditional suburban subdivisions, we have an almost rural atmosphere with abundant wildlife because we are located near the Red Cedar River and MSU research woodlots which provide continuous natural areas for wildlife to move freely. Our neighborhood association was established in 1950 and is still active today.

We are a community which prides itself on our ability to walk & bike to many places. We are only a few blocks to the MSU sporting arenas and campus; the neighborhood elementary school; several places of worship; Trowbridge Shopping Center with a major grocery store & restaurants; Frandor Shopping Center with retail & service store; the Riverwalk Trail – a seven mile walking/biking trail along the Red Cedar & Grand Rivers that connects to downtown Lansing and Lansing Community College; the Amtrak station & all the major highways.

Boundaries:

Kalamazoo St, Harrison, Trowbridge, I-496/US-127 (see map)

Local Schools:

K-4: Red Cedar Elementary School / website

5-6: Glencairn

7-8: MacDonald Middle School

9-12: E.L. High School

Local Parks:

J.D. Emerson Park