Update: Here is the announcement – $25,000 in down payment assistance funds for 1st Generation Home buyers!!!
Exciting news for first-generation homebuyers in Michigan! A new down payment assistance program is set to roll out soon, making the dream of homeownership more attainable than ever. This innovative program aims to help individuals who are the first in their families to purchase a home overcome the significant financial hurdle of a down payment.
Key Details:
While the full details of the program will be released on February 14th, here’s what we know so far:
How to Stay Informed:
For complete details on the program, including eligibility requirements, application procedures, and program guidelines, please join Jeremy Drobeck on Facebook Live on February 14th.
Why This Program Matters:
This new down payment assistance program represents a significant step forward in making homeownership more accessible for first-generation homebuyers in Michigan. By providing financial support, the program aims to break down barriers and empower individuals to achieve the dream of homeownership.
Stay tuned for the official announcement on February 14th and let’s make homeownership a reality for more Michiganders!
Disclaimer: This blog post is based on preliminary information. The official program details and eligibility criteria will be announced on January 29th.
For many, the dream of homeownership remains a significant milestone. But what if you could help a close family member achieve that dream, even if they face financial hurdles? The Family Opportunity Mortgage Program, often referred to as the Family Assist Program, is a specialized mortgage solution designed to do just that – empower families to support loved ones in purchasing a home.
This unique program was created to address a common challenge: families who want to assist elderly parents, adult children with disabilities, or other qualifying relatives in buying a home, but where the assisting family member might not be able to occupy the home themselves, or where the assisted family member faces challenges meeting traditional mortgage qualifications alone. It essentially allows family members to secure financing for a loved one’s primary residence, often with more favorable terms than a standard investment property loan.