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Greater Lansing Association of REALTORS® Down Payment Assistance Program

Wednesday, April 23, 2014   (0 Comments)
Posted by: Michelle Rahl
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Greater Lansing Association of REALTORS® Down Payment Assistance Program
88% of homes in the Lansing area qualify

Hundreds of millions of dollars are available from Federal, State, and Local home buyer programs; from down payment and first mortgages to closing cost and loan benefit assistance. In the Lansing market, more than 88 percent of homes qualify for some form of down payment assistance.

Many people believe that Down Payment Assistance is only directed at low income buyers. But down payment assistance is available for most homes up to $250,000 and household incomes into the high $90K’s. Help is now available from local groups including the Michigan State Housing Development Authority, the City of Lansing, and the Hometown Housing Partnership.

The Greater Lansing Association of REALTORS® now make checking eligibility for Down Payment Assistance simple. By entering personal home ownership information into our directory, our system will research and identify federal, state, local and business level programs that can aid with mortgage financing. Our goal is to connect buyers in Mid-Michigan with down payment assistance programs they may not have otherwise known existed. The expense of home buying has kept many people from purchasing homes, we want to open the door to home ownership with this new program.

Consumers interested in buying a home in Mid-Michigan can now take advantage of this extremely useful program by locating this logo next to listing information found on the Greater Lansing Association of REALTORS® website or on a local REALTOR® website.

We are dedicated to helping solve the industry’s long-term challenge of identifying both eligible homes and eligible buyers for homeownership programs. DPA intersects with the complete housing supply chain: it generates new leads for REALTORS®, maximizes local programs and dollars, promotes local communities and puts responsible borrowers into homes.

Housing inventory has dropped 12% and home pricing has risen almost 7% locally. Distressed home sales also continue to decrease. With less distressed homes on the market, home values are beginning to see more of an equilibrium.

Many people are interested in purchasing a home and have been in the market for a long time, but haven’t had the ability to save for a down payment on a purchase. This is the best resource to help achieve home ownership.

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