$3,000 Michigan Homebuyer Assistance Grant
$3,000 Michigan State Housing Development Authority (MSHDA) Grant is now available for first time home buyers in Leelanau County and Grand Traverse County (Traverse City).
1. Homebuyer Assistance - $15 million has been allocated for the Homebuyer Assistance grant program that will assist first-time homebuyers purchasing a single-family/one-unit, owner occupied, principal residence. Eligible first-time homebuyers are defined as a person who has not owned a home as their principal residence for three years prior to the date of purchase. Non-military homebuyers are eligible for grants up to $3,000. Active military and veterans are eligible for grants up to $5,000. Neither grant can exceed 25% of the purchase price. Grant funds may be used with any first lien mortgage transaction and can be combined with MSHDA's Down Payment Assistance. NOTE: Military is defined as a member of the U.S. Armed Forces or National Guard and Reserves.
Source and additional information can be found here: http://www.michigan.gov/mshda/0,4641,7-141--291018--,00.html or by asking your loan officer!
For more information please contact:
UPDATE: MSHDA had an overwhelming and higher than expected number of Homebuyer Assistance grant applications received, therefore as of 5 p.m. Wednesday, March 27, 2013, they can no longer accept any Homebuyer Assistance applications. However, they will continue to accept and process HARP Grant Applications.
Note from Oltersdorf Realty, LLC: Although we are sad to see the program end we are happy to report that several of our clients were able to take advantage of the program and successfully received $3,000 towards the purchase of their first home in Leelanau County & Grand Traverse County!