Article by Wendy McCance
If you live in Michigan and are thinking about purchasing a home, here is just one more reason that now is a good time to buy. The Michigan State Housing Development Authority (MSHDA) has a grant program in place called the Homebuyer Assistance Grant Program. This grant is for individuals who are interested in purchasing a single-family, owner occupied, principal residence.
The program supports non-military as well as military homebuyers. Non-military homebuyers can receive up to $3,000 and Active military and veterans can receive up to $5,000. Neither grant can exceed 25% of the sales price of the home. The best part of this offer is that there is no lien and no repayment required! There is also no sales price or income limit to qualify.
Cash back at closing is limited to the amount the buyer pays into the transaction outside of closing.
To get more information on the Homebuyer Assistance Grant Program, please go to: http://www.michigan.gov/documents/mshda/Terms_Guidelines_Homebuyer_404166_7.pdf