Comments on: My Home My Coast Grant

By: Tammy

Tammy — Mon, 06 Feb 2012 18:28:56 +0000

I am glad to hear that it worked for you Arlene. What lender did you go with? Because my lender is giving me the run around right now. Did you have only a limited amount of subdivisions to choose from? Thanks in Advance!!

By: Damion

Damion — Sat, 10 Dec 2011 21:02:28 +0000

That is Awesome Jennifer. I am so excited for you and your family!

By: jennifer

jennifer — Sat, 10 Dec 2011 20:55:05 +0000

totally worked for me and my family couldn’t be happier this was a
miricale for us

By: missy

missy — Fri, 23 Apr 2010 04:41:30 +0000

good for you arlene that you got a loan and a home congradulations. I do not doubt that the program works but it also has a lot of draw backs. We were accepted and ready to take the classes and since our income was over 80% but was under 120% we have to wait until the people below 80% gets funds. I think that’s a load of crap. How can they do something so stupid when we were in the program since it opened up back in april of 2009 I still want to get help with buying a home but I do not think that its fair that we have to wait on people with lower incomes to go through the program it should be first come first serve because the program is not set up for low incomes its set up for people not over the 120% income. I am so upset with whats been going on.

By: Arlene

Arlene — Mon, 29 Mar 2010 20:23:53 +0000

I am a recipient of the program and it does work and it has helped some people to become homeowners that would not have normally been able to purchase. This program is not targeted to only low-income individuals; I make a good salary and I was able to purchase and the program helped me alot of ways. Of course there are requirements but that comes with any mortgage loan/program and you as a individual have to find the right loan for you. I was approved the previous year straight through the bank and the following year through MHMC so it does work. There was a indivudual that commented on putting down 3.5% on a FHA loan and getting it back through the tax credit; with MHMC the money they give you for down payment is free and you are still able to get the $8k tax credit and that is just extra money. I do feel that when the program first started that there was alot of misunderstandings and unknowns about the program. Some of the counselors were not fully knowledgable of information and would send clients to the banks when they were not completely qualified or ready to purchase. MHMC does the leg work but the banks are the ones who have the final say-so as to whether or not a person fully qualifies for a mortgage loan. I found out during my process that MHMC did not have a credit score requirement but the banks do and that disqualifies some people. I think that the individuals themselves need to do some homework when it comes to purchasing a home. I was very knowledgable of the process because I was approved and for several months looked for a home but was unable to find what I wanted. I do not think the program was fully ready to launch and alot of people were misled and within a few months the program was overwhelmed. If the programs launches again, I would recommend it to any one who wants to purchase a home and at least try it. I would also recommend having a lender (bank) in mind and also communicate with them and find out for sure if you will qualify for a loan. Remember that it’s not just MHMC that is providing funds for you; the banks are lending you the money as well. They will not give you a mortgage loan if you do not meet their requirements and it will not matter what MHMC says because in the end, the banks are the ones that are going to allow you to purchase a home. As I said before, the program worked for me and I was able to purchase a nice home and I make a good salary. My advice to anyone who is thinking about purchasing, you must have good credit and very little debts. My credit was good and my debts were small and within 3 weeks I had met with a counselor, taken the two classes, met and was approved by a lender, found a home and had a contract. The program does work.

By: von

von — Wed, 10 Feb 2010 03:25:44 +0000

Well i’m going through the same thing and I will probably loss my house 2/15/10. I wish I would have know this before I started the program! I’ve wasted time and a lot of money. I even got new furniture for a house I will never get.