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An enthusiastic MCC brings eligible homebuyers that have a nonrefundable federal income tax borrowing used with home financing

If you have covered either a MI Financial otherwise MI Family Mortgage Bend financial, you will want to sign up for down payment assist with discover up to $7,five-hundred – or 4 percent of your house’s purchase price, any type of are shorter – in order to with your advance payment and you will one closing costs. The support arrives once the a zero-notice loan, but you’ll need pay off the fresh $7,five-hundred in case the home is offered, refinanced otherwise paid in full.

The only connect? You will need to put down at the very least one percent of your home’s purchase price utilizing your own offers, and all of grownups on your own home must complete twenty four hours-enough time homebuyer’s knowledge path. Continue reading “An enthusiastic MCC brings eligible homebuyers that have a nonrefundable federal income tax borrowing used with home financing”