LANSING, MI (WKZO AM/FM) – The Michigan State Housing Development Authority launched a new program this week to help first-generation homebuyers with their first purchase.
The program provides eligible people with up to $2,500 in down payment deferred loans for the upfront costs of buying a house.
MSHDA director of home ownership Tonya Coon says saving money for a down payment is preventing many people from being able to purchase a home and stop renting.
The state has $8-million available in the program.
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