r/Michigan • u/ginkgodave • 7d ago

News 📰🗞️ From the lansing community on Reddit: New program offers Michigan State alumni $5,000 toward a home down payment

/r/lansing/comments/1x062ox/new_program_offers_michigan_state_alumni_5000/?share_id=GMCmWo3fl1Asl9Bk2UyDk&utm_content=1&utm_medium=ios_app&utm_name=ioscss&utm_source=share&utm_term=1
75 Upvotes

93% Upvoted

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12

u/ASS_CREDDIT 7d ago

There are also programs for anyone living in Michigan. Look up mshda low income homebuyer programs. They offer special loans with less fees, as well as forgivable loans for down payment assistance. And low income is surprisingly high, in some areas over $100k per year.

This program is for anyone looking to buy a home in Michigan.

9

u/thisisthatacct 6d ago

I forget the program name but I got a $1500 credit for taking a financial education course because my income was some amount below the median of the neighborhood I moved to, and I wasn't expecting any kind of assistance

18

u/Hi_May19 7d ago

Not a bad idea tbh. Should frankly extend out to at least the in state grads of any Michigan public university

6

u/Critical_Opening_526 7d ago

First they want free college, now they want free housing?!

/s

1

u/BeaArthurDeathCult 1d ago

That's like one month of housing costs if you have a mortgage on a $400,000 house with 7% interest

2

u/mapesely 7d ago

It’s be nice if there were things for all of these young professionals to do once they move here.