Steps to a NIC Mortgage A general guide to the 5 steps involved with a Neighborhood Investment
Corporation Mortgage. Find out more
Property Improvement Program (PIP)
improvement loan up to $50,000
Loans paid back over 25 years
interest rate currently between 4-8%
Maximum income to qualify $60,700
Install Insulation
New furnaces or boilers
New Siding
New Roof
New Windows
Remodel Kitchen or Bathroom
Upgrade Electrical
Even add new rooms Find out more
Homeownership Education Buying a home for the first time can be a daunting experience
- especially when you are planning major home improvements! Neighborhood
Investment Corporation offers a full series of Homeownership Education
seminars to walk you through each step. The whole series of seminars
are scheduled monthly. Find out more
Down Payment Assistance and 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, downpayment costs, or principal
buydown of your NIC Mortgage. Find out more
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.
improvement loan up to $50,000