Help for First Time Home Buyers

By  | 

How about some help buying or fixing up a house? Home purchase and rehabilitation grants from the Michigan State Housing Development Authority are available in Eaton County.

The money is for first time homeowners. The goal is to boost home ownership is Charlotte and Olivet. This is the second time Eaton County has been awarded this grant. The first time somewhere around seven homes were purchased. This time, Economic Development and Housing Authority Coordinator Jonathan Greene says 10-12 homes could be purchased and rehabilitated.

There are income requirements and you first must secure a mortgage through a traditional lender. Then the grant kicks in, acting as a second, silent mortgage. Approved applicants are eligible for up to $10,000 worth of down payment assistance and up to $25,000 worth of home rehabilitation help. The money must be repaid if the applicant moves out of the home or passes away.

The program is run in 40 counties around the state including Ingham, Livingston and Jackson counties.