I’m happy to report that even if you don’t have a down payment, you can take advantage of today’s low interest rates and buy your home. The Michigan State Housing Development Authority (MSHDA) assists with down payments for buyers who qualify. The program will provide you up to $7,500 to cover your down payment, closing costs and even inspections!
So…you’ve been interested in buying your first house for a while, but are unsure about your options. Not to mention you’re understandably concerned about the economy and whether or not your potential investment is a good idea right now. You’re also likely able to afford your monthly rent and a bit extra, but is that enough to buy a house? Are shortsales or foreclosures a good idea?