Affordable Housing in Lansing: Two Non-Profits Making a Difference

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Affordable Housing in Lansing: Two Non-Profits Making a Difference

Lansing has recently been ranked as one of the most affordable metro markets in the US. However, even with this designation, finding affordable, healthy housing in this low inventory market remains challenging. Fortunately, two local nonprofits are working hard to address this issue by building and rehabbing energy-efficient homes, helping buyers with down payment assistance, and setting up first-time buyers with the skills they need to be successful homeowners.

1. Capital Area Housing Partnership

Capital Area Housing Partnership sells new or rehabbed, energy-efficient homes to income-qualified first-time homebuyers. Their homes are sold at the appraised value with down payment assistance to increase affordability.

Eligibility: Buyers must be income-qualified first-time homebuyers, defined as individuals who have not owned real estate in the past three years.

Income Limits: Buyers must be at or below the listed income limits.

Application Process: An offer to purchase must be submitted to the listing agent along with a completed application packet.

Down Payment Assistance: The City of Lansing offers up to $14,999 in down payment assistance, and buyers must contribute at least 1% of the listing price.

Education Requirement: Successful completion of a Home Buyer Education class before closing is required.

Deed Restrictions: Homes must remain owner-occupied for 30 years, as recorded at the time of sale.

Upcoming Homes: Four homes will be available this Fall, featuring 2-3 bedrooms.

2. Habitat for Humanity Capital Region

Habitat for Humanity Capital Region sells new and rehabilitated homes to homeowners at a discounted interest rate. Homeowners must be willing to complete homeownership classes, fulfill sweat equity volunteer hours (often on-site building their new home), and have a steady income.

Habitat for Humanity Capital Region builds and rehabilitates homes in partnership with families and individuals who need a safe, decent, and affordable place to live. Through their application process, qualified homebuyers are selected to purchase affordable homes that Habitat Capital Region builds or rehabilitates in Ingham, Eaton, and Clinton counties.

Interest-Free Loans: New homes are sold to homeowners at 0% interest.

Homeownership Classes: Homeowners must complete homeownership classes before moving in.

Sweat Equity: Homeowners must complete volunteer hours, often helping to build their own homes.

Building Timeline: Once accepted into the program, it could take more than six months to build their house, but it’s worth the wait for a home they can call their own!

Your Path to Affordable Homeownership

These two non-profits are making significant strides in creating pathways to homeownership for families in the Lansing area. If you’re interested in exploring these opportunities, reach out to our office today to start your journey to affordable homeownership.

We’re here to guide you through the process and help you find a home that fits your needs and budget.