Available in Washtenaw County, MI

NEIGHBORLY HOUSING GRANT

A grant brought to you by University Bank with contribution of up to $5,000 for eligible borrowers.

University Lending Group, in collaboration with University Bank, has introduced a down payment assistance grant program aimed at making homeownership more accessible for low to moderate income borrowers in Washtenaw County, MI. This initiative is designed to support individuals and families who might otherwise struggle to afford a down payment, thereby bridging the gap to homeownership.

Key Features of the Down Payment Assistance Grant

  1. Non-Repayable Grant: Unlike loans, the assistance provided through this grant does not need to be repaid, significantly reducing the financial burden on the borrower and facilitates smoother entry into homeownership.
  2. Eligibility Criteria: The grant provides assistance to low to moderate income borrowers. Specific income limits and other eligibility criteria will apply, ensuring that the assistance reaches those who need it most.
  3. Community Focus: As a community bank, University Bank, along with its mortgage division, University Lending Group, emphasizes local engagement and support. This program is part of their broader commitment to fostering community development and financial stability in Washtenaw County.

This down payment assistance grant is an excellent opportunity for eligible individuals in Washtenaw County to achieve their dream of homeownership without the added burden of repayment. It underscores the significant role community banks can play in fostering financial inclusion and stability within their local community.

This is not a commitment to lend or an offer for a rate lock agreement; a pre-qualification is based on a preliminary review of information provided and limited credit information. All home financing transactions are subject to verification of application information, satisfying all underwriting conditions and requirements, and property eligibility, including appraisal and title report. You must carry insurance on the property that secures the transaction, and flood insurance may be required. Any taxes or additional conditions imposed by the city, county or state that the subject property is located in will be the borrower’s responsibility.

Minority Family Qualifies for HomeBoost Down Payment Assistance

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