Many Greater Lansing Real Estate homes qualify for the additional home buying assistance program through MSHDA, in addition to the new federal tax credit. Here's an example of a wonderful opportunity that can be bought this Sunday, June 14th, between 1:00 p.m. and 3:00 p.m.
MAR reported today that The Michigan State Housing Development Authority has significantly expanded its down-payment assistance program that, when combined with the new federal tax credit, would provide more than $15,000 in help for first-time home buyers.
The loans - - which have zero interest and don't have to be paid back until the home is sold or the mortgage refinanced or paid in full - could be used for closing costs, expenses such as setting up escrow accounts, or down payments. The federal recovery package approved in February provides first time homebuyers with an $8,000 tax credit.
"MSHDA has raised its limits on the household income for buyers eligible for the $7,500 loan from $55,000 to nearly $95,000," said Mary Townley, MSHDA's director of homeownership. "We felt we just needed to provide more tools for home buyers."
For both the federal and state programs, buyers are eligible if they haven't owned a home in the past three years. The federal credit runs through Dec 1. The state loans can be used for homes worth up to $224,500. Income limits and other information can be found at MSHDA's Web Site.
The above property is located at 1132 Morris Ave. Lansing, MI 48917.Take Saginaw Hwy 3 blocks east of Waverly Road, go north on Morris Ave. Edgemont Park Sub, Waverly School District. A quaint red brick ranch with front porch great for rocking and back porch for grilling. This 3-bedroom home has hardwood floors throughout, refinished in 2008, beautiful kitchen with ceramic tile, updated hardware on cabinets, recessed lighting and spacious living room. Completely remodeled bathroom in 2006, (new tub/shower, toilet, sink, lighting, and medicine cabinet). All new light fixtures and modern paint throughout.
Other features include, high-efficiency furnace, central air, and replacement windows throughout, a partially finished and updated knotty pine basement. Enjoy the fenced in backyard, and garage. This home is a must to see.
"Expect the Best" Mike
Mike Bowler Sr. ePRO, CRB, GRI, SRES
Coldwell Banker Hubbell Briarwood
1020 S. Creyts Road, Lansing, MI 48917
Phone: 517-492-3400 Fax: 888-832-6203
email: Mike@MikeBowler.com
Website for Clients: MikeBowler.com
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