Trinity G. and her mother lived in a mobile home for several years before their landlord decided to put it up for sale.
With two modest incomes, she thought they could afford the monthly payment on an older home in the area, where she works and graduated from high school. But, she didn’t have adequate savings for a down-payment or closing costs. She approached a local lender for guidance and learned about loan programs available through MMCDC.
MMCDC provided two affordable home loans, including a “soft second” loan with no immediate payment required, to help her purchase a home. “It was very important and extremely helpful, because I wouldn’t have this place otherwise,” Trinity said.
Not only does the new home offer more space, it meets their need for a main floor bedroom (due to mobility issues) and a monthly payment similar to their rent. In fact, her house payment is $45 less, even with taxes and insurance.
MMCDC has been a fabulous resource for Mid-Central Federal Savings Bank. Having the Rural Development option available for those buyers who don’t fit the conventional mold is a win-win. They achieve the dream of homeownership and we have a satisfied customer…
Alanna Burns, Vice President / Loan Officer Mid-Central Federal Savings Bank
