Let's get housed.
The Northwest Michigan Community Action Agency (NMCAA) Homeownership Center is excited to help you in your homeownership goals and thanks you for your interest in a home through the Housing Trust of Benzie (HTB). NMCAA will be guiding you through the process for a HTB home which begins with screening interested parties.
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HTB will NOT be party to the homebuyer selection process and all information will be strictly confidential.
THE PROCESS
HOMEOWNER CHECKLIST
Families for HTB homes must meet the following criteria:
01.
PRINCIPAL RESIDENCE
This home must be your principal residence and occupied for at least 11 months of the year.
03.
ATTENDANCE
All buyers must attend a Homebuyer Education Workshop, two Pre-Purchase coaching sessions, and two Post-Purchase coaching sessions with the NMCAA Homeownership Center. All workshops and sessions are offered either in-person or virtually.
02.
PROOF OF EMPLOYMENT
​Homebuyers must have proof of current or future employment in Benzie County.
04.
GROSS ANNUAL INCOME
Gross Annual Income must be within the range of 60% to 120% of the HUD FY 2025 Area Median Income (AMI) level for Benzie County, MI. Please see chart below for eligibility.
Click image to view full table.
Other Important Info...
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HTB has a fixed rate resale formula. This fixed rate formula is detailed in the ground lease. It is easy to calculate your equity at any time. The fixed rate increases the longer you own the home. The actual dollars will vary for each homeowner and will be discussed with your housing counselor.
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Homeowners pay two separate property tax bills. One for the improvement (which is the house), and one for the land.
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Homeowners have full use of their leased land. You can put up a fence, do your own landscaping, plant a garden, put up a playset, etc.
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You are responsible for maintaining the land and the home.
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You are responsible for all utilities.
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You sign a 89-year ground lease when you purchase your home and pay an annual ground lease fee.
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NMCAA, the Northern Michigan Community Action Agency, is not a mortgage lender, a realtor, or the developer. They are the agency that provides housing counseling services to help guide you through shared equity homeownership.
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At the time of resale, the land subsidy stays with the home, and all payments towards the PRINCIPAL of the home return to the seller. In the instance that the home has appreciated during your ownership, the additional accrued equity is shared with the Housing Trust of Benzie. You earn less equity than a traditional market-rate sale, but you spend less money month-to-month while living in the home. The next home buyer will also be income restricted from 60% to 120% of the area median income at the time of sale, and must be qualified by NMCAA
Sill have questions? See FAQs.