IRON MOUNTAIN, Mich. (WZMQ) – Today marks the opening of a new cycle of affordable housing grants, thanks to the collaboration between the First National Bank and Trust and the Federal Home Loan Bank of Indianapolis. Two grants are now accessible for eligible homeowners: the Neighborhood Impact Program (NIP) grant and the Homeownership Opportunities Program (HOP) grant.
Lisa Bruen, NIP Grant Processor, emphasized the significance of these grants, stating, “It’s a great opportunity for people to apply. It’s free. You don’t have to pay this back. It’s really helpful to the community, and it’s a great program.”
The NIP grant offers up to $15,000 for home repair assistance, covering crucial repairs such as roofs, siding, and ADA accessible bathroom upgrades. Bruen explained, “They can get up to $15,000. It’s mostly for, like roofs or siding. A lot of people don’t have homeowners insurance because of the repairs they need, so it’s really for things that are necessary like siding or sometimes bathroom modifications for disabled people.”
On the other hand, the HOP grant provides up to $20,000 for first-time homebuyers to aid with down payments and closing costs. Veterans are also eligible to apply for these home assistance programs.
The programs aren’t limited to just Iron Mountain, anyone eligible can apply at locations in the U.P. and Northern Wisconsin. Bruen highlighted the inclusive nature of the programs, stating, “It can be anywhere where we service our loans, which is in Northern Michigan, obviously Upper Michigan, and then northern Wisconsin as well.” The First National Bank and Trust has locations in Iron Mountain, Kingsford, Iron River, and Menominee, to name a few.
Applicants for the HOP grant need to have a signed purchase agreement and be prequalified for a home loan. Income verification is essential for both grants, with applicants required to provide pay stubs, W-2s, tax returns, or other relevant documents.
“There really isn’t a deadline,” Bruen noted. “It’s basically just until the money runs out. It’s first come, first served, so we just go until we’re out.”
The program also encourages applicants to provide before and after photos of the repairs made under the Neighborhood Improvement Program Grant, illustrating the impact of the assistance provided.
To find out if you’re eligible or get a grant application, contact the First National Bank and Trust at:
906-774-2200
To find out more about the First National Bank and Trust, visit:
For more information about the Homeowner Opportunities Program for assistance with down payments and closing costs, visit:
For more information about the neighborhood impact program for assistance with needed home repairs, visit:
