A Game Changer for First-Generation Homebuyers in Michigan
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:
- Eligibility: The program is specifically designed for first-generation homebuyers in Michigan.
- Down Payment Assistance: The program will provide financial assistance towards the down payment on a home purchase.
- Eligibility Requirements: Specific eligibility criteria will be outlined in the upcoming announcement.
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.
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Are you under contract on a home with an expiring rate lock? Need a rate lock extension?
Yesterday, a buyer called me in a total panic. They locked in their mortgage interest rate 30 days ago while shopping for a home near the Westwood neighborhood. Everything moved along fine until the seller asked to push closing back by ten days to finish clearing out their garage.
The buyer asked me, “Jeremy, if our rate lock expires before we close, will our interest rate jump up? Will our monthly payment go through the roof?”
I told them straight up: “Take a deep breath! An expiring rate lock will not ruin your deal, and you will not lose your low rate!”