Sault Tribe Housing Authority Down Payment Assistance Program

Sault Tribe Housing Authority Down Payment Assistance Program is a deferred second loan for homebuyers in Kincheloe, Michigan, administered by Sault Ste. Marie Tribe of Chippewa Indians Housing Authority. The Sault Tribe Housing Authority Down Payment Assistance Program provides up to $9,500 in down payment and closing cost assistance to qualifying low-income enrolled Sault Tribe members who are first-time homebuyers purchasing in the tribe's seven-county eastern Upper Peninsula service area. A 5-year lien is placed on the home. The program is open year-round until funds are exhausted. Up to $9,500 toward down payment and closing costs. Open year-round. For first-time tribal homebuyers. Deferred via 5-year lien. Funding comes from Native American Housing Assistance and Self-Determination Act (NAHASDA) / HUD tribal housing funds.

Sault Tribe Housing Authority Down Payment Assistance Program offers up to $9,500 in assistance. Homebuyer contribution: Must pay at least $500 of own cash toward closing costs and/or down payment. Amounts are the program's published maximums, not an offer — Sault Ste. Marie Tribe of Chippewa Indians Housing Authority determines any individual award.

Sault Tribe Housing Authority Down Payment Assistance Program is forgiven after 5 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by 5-year lien placed on the home; secured for the lien period. The assistance is recorded in subordinate position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Sault Tribe Housing Authority Down Payment Assistance Program is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. A homebuyer education course is required. Residency requirement: Must live in the 7-county service area (Chippewa, Luce, Mackinac, Alger, Delta, Schoolcraft, Marquette). Citizenship or immigration status: Must be an enrolled Sault Tribe member; must be at least 18 years old. Must be enrolled Sault Tribe member, at least 18, first-time homebuyer, minimum $25,000 annual income, within income limits, qualify for a mortgage at a local lender, and contribute at least $500 of own funds. Applicants ranked by point system; alternate phone (800) 794-4072.

Sault Tribe Housing Authority Down Payment Assistance Program sets its income limit as follows: Income-based; applicant must be within program income limits and earn at least $25,000/year. The limit applies to total household income, not only the borrower’s. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Sault Tribe Housing Authority Down Payment Assistance Program names American Indian and Alaska Native homebuyers among the groups it serves. Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

Sault Tribe Housing Authority Down Payment Assistance Program serves homebuyers purchasing in Kincheloe, Michigan. The program targets specific areas: Seven-county eastern Upper Peninsula service area.

Applications for Sault Tribe Housing Authority Down Payment Assistance Program go through Sault Ste. Marie Tribe of Chippewa Indians Housing Authority, which publishes the current terms and the application steps on its own site. Funds are reserved through Open year-round until funds are exhausted; applications considered in order received and ranked by an approved point system. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.