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.
Did your mortgage lender suddenly go radio silent, request the same bank statement for the fourth time, or drop a last-minute loan denial right before your scheduled closing date?
Yesterday, a panicked real estate agent called my office from Portage. Their buyer had been under contract for three weeks on a home near Milwood. The closing date sat just nine days away.
Out of nowhere, the buyer’s out-of-state call-center lender issued a denial letter. The call-center underwriter miscalculated self-employment write-offs, panicked over an unpermitted porch repair on the appraisal, and threw the entire transaction into the trash can.