Save at Least $3,000 When Buying Your First Home in Michigan!
If you're a first time buyer and short on cash make sure you pay close attention because I'm going to show you how to make your dream of homeownership a reality!
There are several creative ways to dramatically reduce your out of pocket expenses when buying your first home. It all starts with finding a good lender that is licensed as a broker and a lender. This is key to getting the best interest rate because a broker/lender will have more lending options to meet your specific needs.
Another important factor in finding a good lender is their ability to provide accurate numbers. You'd be surprised at how "OFF" the closing cost numbers can be when you're working with the wrong lender. We're talking about thousands of dollars that could make or break your ability to purchase the home of your dreams.
If you're interested in learning how to;
- Save at Least $3,000 in Out of Pocket Costs
- Get The Lowest Possible Interest Rate
- Get The Best Mortgage Program For Your Situation
- Get Your Lender to Cover Your Mortgage Costs
- Avoid Paying Any "Junk" Mortgage or Upfront Fees
Just Click the "Get Pre-Approved" Button Below or Call 248-674-6450!
What Is The Michigan First Time Home Buyer Program?The Michigan first time home buyer program makes home ownership possible for many cash strapped buyers. Covering a down payment and closing costs are often the biggest barriers to owning a home for many first time buyers. Consider using the Michigan first time home buyer program if you meet the eligibility requirements to make your dream of owning a home a reality.
The traditional 20% down conventional loan is rarely an option for the Michigan first time home buyer. In fact, it's far from the norm as many first time buyers have a hard time saving for a 20% down payment due to financial restrictions like paying back student loans. That's why it's extremely important for first time buyers to know their loan options since there are several low down payment as well as no down payment programs avaialable.
Michigan First Time Home Buyer Program With FHA and the VA...The Michigan fha program is another fixed-rate Michigan first time home buyer program available to individuals who have low to moderate income. Their income and the sale price of the home are factors considered when applications are submitted. The Michigan fha program allows non-traditional credit applicants and assistance with a down payment, as long as borrowers attend a program from a MSHDA counseling agency about home borrowing. There are multiple counseling centers, divided from one county to another. Attending the class required by the Michigan FHA program may also be ideal to get valuable insight about the process.
Another Michigan first time home buyer program is the United States Department of Veteran Affairs (VA) program, which is an alternative to the Michigan FHA program. It meets the general requirements of supporting low to moderate income individuals who are borrowing to purchase a home within the set sale price guidelines and their income must also be below the threshold for the county they want to live in. Many lenders are likely to be more lenient with offering loans to individuals participating in the program because the funds are guaranteed by the government, minimizing the risk of ending up with a home due to defaulting on payments.
Don't Forget About Michigan's Rural Development First Time Home Buyer Program...Don't overlook the USDA Rural Development (RD) Loan as an option to consider instead of a program such as the Michigan FHA or VA loans. The rural development loan is a zero down 30-year fixed-rate guaranteed or direct loan, offered to potential borrowers who fall into the guidelines for income and sale price of the home. The RD program offers benefits including allowing borrowers to borrow the full price of the home along with escrow items, closing costs and the guarantee fee for a hassle free process during the home buying process.
This Michigan first time home buyer program supports applicants with non-traditional credit and down payment assistance for certain borrowers. Contributions from interested parties towards necessary costs can be used, as long as they are approved by the rural development committee.
Call us today to find out if you will qualify for the Michigan first time home buyer program.