If you would like to move to the Zimmerman area, you can now receive $12,500 for down payment/closing cost assistance to purchase a foreclosed home in either the Pioneer Ponds or Countryside Estates Neighborhoods of Zimmerman and when you sign a Repayment Agreement and not be subject to Resale Restrictions.
You could also qualify for up to an additional $15,000 to bring a front end ratio down to 28% if it exceeds this level. There is also up to $30,000 available to complete rehab needed at the property. These funds are 0%, deferred, forgivable funds. At closing, you would then sign a repayment agreement for 5 (under $15,000), 10 ($15,000 - $40,000) or 15 (over $40,000) years based upon the total amount of NSP funds you would receive. (posted on Active Rain - Don Sabinske)
I'm available to help you navigate the neighborhoods and help you with any questions you may have.