HOP (Home Ownership Program) is a purchase/rehabilitation mortgage lending program administered directly by KNHS.
The three main goals of HOP are:
- To help stabilize Kalamazoo's six CDBG neighborhoods by increasing owner-occupancy rates:
- To provide for the simultaneous purchase and rehabilitation of substandard housing by providing two mortgages; and
- To provide an affordable mortgage product for low to moderate income buyers by providing favorable terms and a low down payment.
Local Lenders who currently provide funding for the KNHS HOP Loan Pool include:
- Comerica
- Flagstar
- Huntington
- Keystone
- National City
- Fifth Third Bank
- Republic
- Standard Federal
KNHS HomeOwnership Center
If you are interested in achieving the American Dream of a "Home of Your Own," BUT this list makes your head swim then the KNHS HomeOwnership Center is just what you are looking for.
KNHS was selected as one of just 22 home-ownership centers in the nation created in 1999 as part of the NeighborWorks® Campaign for HomeOwnership 2002. The Center is uniquely designed to increase successful homeownership opportunities through a "first stop, one-stop shop" approach. The Center, located at KNHS offices at 802 S. Westnedge, delivers all of the services and training that prospective homebuyers and current homeowners need to shop for, purchase, rehabilitate, insure, maintain and manage a home.
Our goal is to provide a convenient location where people can come and get all the information they need in a friendly, professional and supportive neighborhood environment. The KNHS HomeOwnership Center Staff make the process of becoming a homeowner more manageable and less stressful. This includes evaluating individual financial needs, addressing credit-related problems and preparing for the long-term responsibilities of home ownership. Buyers walk away with the skills needed to manage household expenses and avoid financial problems that could result in default and foreclosure.
Full-Cycle Lending Approach
KNHS has received national certification as a Full-Cycle Lender. The six steps include:
- KNHS creates a partnership of residents, business and local government leaders. A plan for targeted community revitalization is put in place
- KNHS provides pre-purchase Homebuyer Education
- KNHS offers flexible loan products
- KNHS staff reviews property proposed for purchase, offers technical assistance to the homebuyer and assists with the property's rehabilitation.
- KNHS offers post-purchase counseling
- Neighborhood impact is achieved
