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Page Seven Text
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Under B-HOP guidelines, Bronson employee benefit is available to qualified Bronson employees who are purchasing or rehabilitating a home in the Edison, Northside or Vine neighborhoods of Kalamazoo.
If you purchase a home in one of these neighborhoods:
- You are eligible to receive a no-interest, deferred loan of up to $10,000, which will be handled as a mortgage through KNHS. The amount of the loan will be tied to the amount of investment you are making in the home.
- Up to $2,500 of the loan can be applied toward closing costs.
- No loan payments are required during the first five years. The loan is payable over 15 years or when you move or sell or refinance the home, or within five years after separation from employment from Bronson, whichever happens first.
- You will participate in the KNHS Homebuyer Education classes.
B-HOP also includes benefits for existing homeowners in the Edison, Northside and Vine neighborhoods. Home renovation or upkeep loans are available under the following guidelines:
- You are eligible to receive a no-interest, deferred loan of up to $10,000, which will be handled as a mortgage by KNHS. The amount of the loan will be tied to the amount of investment you are making in the home.
- The renovation projects you select must be ones that improve the curb appeal of the property and have a positive impact in the neighborhood. These projects include exterior improvements to the property such as painting the house or installing vinyl siding repairing the porch, repairing the driveway, adding landscaping, installing or fixing a garage, installing storm or replacement windows or doors, and installing security lighting.
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