New Housing Construction Loan Program
02/17/2014
The Housing Department of the Mohawk Council of Kahnaw�:ke (MCK) is pleased to announce a New Housing Construction Loan program intended to provide qualified applicants a mortgage for the complete construction of a new house using funds from the Revolving Loan Fund.
The New Construction Loan Program has continuous intake (10 +/- loans per year) and features the following:
� Maximum loan amount of $150,000 to build a new home � Minimum down payment 5% of the mortgage principal � Mortgage Interest rates guaranteed lower than the current market � Re-pay your loan in as little as 5 years or as many as 30 years � Up to 15% Pre-Payment Annually � Choice of Weekly, Bi-Weekly or Monthly mortgage payments � Online payments � Continuous intake for application process - no deadline to apply. � Loans given to those who qualify, on a first come, first served basis
This New Housing Construction Loan program is part of a revamp of MCK housing programs, designed to better meet the community′s current housing needs by making a mortgage to build a suitable home in today′s housing market more attainable.
For full loan details and eligibility criteria on the New Housing Construction Loan program, please call the MCK Housing Department at 450-638-0500. Information Kiosks will be set up in the lobby of the Services Complex on February 20th & 27th and March 20th & 27th from 9am � 4pm.
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