State and Local Housing

Many states, counties and cities provide low to moderate housing finance programs, down payment assistance programs, or programs tailored specifically for a first-time buyer. These programs are typically more lenient on the qualification guidelines and often designed with lower upfront fees. Also, there are often loan assistance programs offered at the local or state level such as MCC (Mortgage Credit Certificate) which provide tax credits for some part of the interest payment. Most of these programs are fixed-rate mortgages and have interest rates lower than the current market.

Ross Mortgage is an approved lender and participates in the mortgage programs provided through the housing authorities in Michigan (MSHDA), Ohio (OHA) and Kentucky (KHA). Consult your Ross Mortgage Loan Officer for details.