Found 2 blog entries tagged as First-time homebuyer Michigan.

You’ve seen the headlines everywhere: “Recession looming,” “Inflation uncertainty,” and “Mortgage rate volatility.” Conversations at work, at the local coffee shop, or even around the dinner table probably sound similar: “Maybe we should wait until the recession hits before making a real estate move.” It’s understandable. On paper, recessions seem like they should bring falling prices and lower interest rates, creating the perfect conditions to buy or prompting urgency to sell quickly before values decline.

But here's the truth from someone who’s been through multiple market cycles in Metro Detroit: real estate markets rarely behave exactly as expected. Instead of making emotional or speculative decisions based solely on the fear of recession,…

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In an era where rising property costs and high interest rates have placed homeownership out of reach for many, the State of Michigan has taken a decisive step to change the narrative. The Michigan State Housing Development Authority (MSHDA) recently launched the First-Generation Down Payment Assistance (DPA) Program, a groundbreaking pilot initiative that provides up to $25,000 in financial support to first-generation homebuyers.

With $8 million allocated from the state budget, the program aims to assist approximately 320 families across Michigan, offering them a critical boost to cover down payments, closing costs, and prepaid expenses. At a time when the National Association of Realtors (NAR) reports that first-time homebuyers represent just 24% of…

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