Are you wanting to buy a home yet don't have the money for a down payment or closing costs? Do you have a credit score of 640 or higher? If so, then this program might be just what you are looking
Down Payment Assistance Program Available
As a REALTOR, I run into people all the time who would like to buy a home yet they just cannot get past taking that next step. These home-buyers usually know exactly what they want in a home but when I say,
"Wonderful, I would love to help you find your dream home. What lender are you working with and how much will they loan you?"
I hear excessively often, "I haven't been to a lender yet." I tell them that this would be the next step because the type of loan offered to you will dictate the price range as well as the home meeting loan criteria if required. I urge them to get pre-qualified first and give them a list of lenders, amazingly, after following up a few days later. I find that many people do not take that next step. They tend have all kinds of reasons why they will not or cannot get to a lender. Some are justified because either they do not have credit nor have glitches on their credit that they need to fix (see my blog about credit repair). I know it is kind of scary to meet with a lender and give them all that stuff about your life right? But your life will never change unless you take action.
One of the reasons I hear the most is not having enough money for a down payment. Well...there is help available. There is a down payment assistance program offered by the Michigan State Housing Development Authority or better known as MSHDA. Check out their site-
I covered in a previous blog that there are 100% loans available through USDA and the Rural Development Program (please check out that blog too). MSHDA offers up to $7500 in down payment assistance to first time and repeat home-buyers. There are qualifications for the program but they are not harsh at all. Just read the list and even if you are not certain if you qualify, contact them. They are there to help you.
I know buying a home can be a scary. Educate yourself as much as possible first then get out of the comfort zone, take that next step, contact MSHDA or your local lender, and ask them if they participate in the MSHDA down payment assistance program. Do not let yourself talk you out of obtaining that dream of home ownership. Take the next step, lenders do not bite, neither does MSHDA or REALTORS either. Then we can all work together to change your life with that dream home.
My personal mission statement is "Changing people's lives...one home at a time." With every client I work with, buyer or seller, I take this mission statement to heart. Buying or selling a home is c....
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