Neighborhood Investment Corporation



	Address Info.
		1115 Third Street Downtown Muskegon MI 49441 Tel: 231.727.0809 Fax: 231.727.8611

Deferred Loans
The Neighborhood Investment Corporation can be a "co-investor" with you on your NIC Mortgage to keep it truly affordable.

We can lend up to $15,000 for housing repairs.

There is no interest charged for this loan - and we get paid only when you are ready to make your next investment!

This loan is repaid only if you refinance your first mortgage to remove equity or if you sell your home.

The actual amount of the loan is determined by the after-rehab value of the home, regardless of the cost of the repairs.

These loans are available to income eligible households - households with annual incomes between 40% and 80% of the area median income.

The funds are available through the federal government HOME program and so program rules must be in compliance with HOME.



NIC's Mortgage Will:
Finance both Purchase and Home Repairs Lend over standard limits Require only $500 downpayment Provide Homeownership Training Guide you through the construction process


Who Should Apply?
Those interested in fixing up older homes - NIC's Mortgage is available only for projects which need substantial rehabilitation Those interested in established neighborhoods - we finance in targeted neighborhoods in Muskegon County Those interested in Homeownership of 1 to 4 unit property Those with responsible credit records Those with stable income and / or employment histories Income limits do apply


Neighborhood Investment Corporation
Opening doors to fixing up old homes and rebuilding neighborhoods. Reclaiming, Reinvesting, Revitalizing Greater Muskegon.