The Michigan State Housing Development Authority helps first-time home buyers in lots of ways:
• Special loans and programs to make your mortgage affordable.
• Down payment help up to $7,500.
• Partnerships with banks, credit unions and mortgage companies near you, so you can work with people you trust.
• Friendly home ownership counselors who will give you straight answers to your home buying questions.
Benefits of being a homeowner
There are many benefits of owning your own home. Just think about it:
• Every monthly mortgage payment builds equity in something you own.
• You can remodel or redecorate your home any way you like – paint a room, add a deck, take down a wall, no problem. Just try that in an apartment!
• Your mortgage interest and property taxes may be deductible on your income taxes.
• That could mean that you’ll get more money back at the end of the year (instead of your landlord).
Using a MSHDA loan to help you buy your home is a great way to start.
• MSHDA 30-year, fixed-rate loans are safe and secure.
• You’ll work with a bank, credit union or mortgage company that’s a trusted MSHDA partner.
• MSHDA helps prepare home budgets and offer credit repair strategies.
• MSHDA has special FHA loans, veteran loans and rural loans. We’ll help you find the loan that’s right for you.
• MSHDA has ownership counselors to help with answers to your home buying questions and valuable home ownership classes are free.
There’s never been a better time to consider owning a home. MSHDA is here to help.
MSHDA Partners Include:
Lenders--MSHDA works with banks, credit unions and mortgage companies across Michigan. There’s probably one near you. Working with a MSHDA-approved partner means you are working with someone you can trust and someone who knows MSHDA programs and how they can help you.
Housing Counselors--Wouldn’t it be great to have someone on your side during the whole homebuying process? MSHDA housing counselors are trained to answer your questions about finances, mortgages and all MSHDA programs. Buying a home can be complicated. A MSHDA housing counselor can give you straight answers to your questions. There’s one near you.
Michigan Association of Realtors® (MAR)--MSHDA works closely with the Michigan Association of Realtors® to make sure that they can work with you to understand which MSHDA loan is right for you. Ask your Realtor about MSHDA programs, MSHDA loans and MSHDA help.
MSHDA is your home ownership partner. Let’s get started--together.
Visit www.OwnMIHome.org for more information.
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