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Homebuyer Process

Buying a home from the New Development Corporation (NDC) can be a daunting experience, but we are here to help. No two homebuying experiences are the same, but the process will look approximately like this:

(1) Applicant completes the following NDC forms:

  • Application for Home Purchase
  • Family Composition
  • Verification of Earnings
  • Profile for Michigan State Housing Development Authority
  • Verification of Resources (Section B to be completed by applicant’s financial institution(s). Request (or make) additional copies of this form for each banking/financial institution.

Be sure to review forms carefully. Sign accordingly. If you have questions, call us!

(2) Return forms to the New Development Corp. Keep in mind that our houses are sold on a first-come, first-eligible basis. If you are seeking a particular house, prompt return of these documents may help you secure the house you desire.

(3) Gather the information you will need to apply for a mortgage. At a minimum, gather:

  • Tax returns for the last two years (be sure that W-2s are attached)
  • Two most recent pay stubs for all borrowers
  • List of current debts and monthly payment schedules
  • Child support payment record from Friend of the Court (if applicable)
  • Landlord information (name, address, phone #) if applicable
  • Social Security numbers for all borrowers
  • Identification (MI driver’s license, State of MI ID, etc)

(4) Meet with a lender who has the loan products you will need. We work with several and are happy to help you find a lender that can meet your needs.

(5) Once you have preliminary mortgage loan approval, sign a buy/sell agreement, submit an earnest deposit and get a copy of the agreement to your lender. PLEASE do NOT give notice to your landlord just yet. This process can take time!

(6) Work closely with the New Development Corporation to determine the timing of your next steps. Those usually include:

  • Getting an independent appraisal, inspections or surveys
  • Providing additional documentation to your lender
  • Securing homeowners insurance
  • Providing notice of your move to your landlord

Application Packet

Click on each form to download and print it. After completing all of the forms, please return it to our office at 228 Carrier NE. You must have Adobe Reader to view the application documents.

Home Purchase Application
Family Composition
Verification of Resources
Verification of Employment
MSHDA Household Profile