Good News for First Time Home Buyers in Michigan

Are you a first time home buyer?

Do you want to purchase a home up to $224,500?

Are you willing to take a class on homeownership?

If you can answer YES to these questions than the Michigan State Housing Development Authority (MSHDA) has a program for you and it is Good News.

Highlights:

  • “0” interest with a non-amorttizing loan
  • Assistance is $7500.00
  • Funds can be used for down-payment, closing costs or licensed home inspector
  • Maximum contribution by the buyer is 1% of the sales price.
  • In ALL of Washtenaw County your income limit for 2 people is $102,240.00

When combined with the tax credit of up to $8000.00 this is HUGE for first time homebuyers.

Here is a list of homes in Ann Arbor and throughout Washtenaw County for a sales price up to $224,500. This includes Dexter, Chelsea, Milan, Ann Arbor, Ypsilanti, Ypsilanti Township, and Whitmore Lake.

There are are 991 homes to chose from up to $224,500 and are ready to be sold. Like the federal law that ends on December 1st, you can not have owned a home for the past 3 years in Michigan.

Read all about the First Time Homebuyer assistance program on the MSHDA web-site.

Call us to get started today 734-821-0757.

Search the Ann Arbor Area MLS

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