KALAMAZOO, Mich. Consumers CU is offering first time homebuyers grants of up to $5,000 through the Michigan State Housing Development Authority’s Homebuyer Assistance grant program.
Michigan has allocated $15 million to the grant program, available on a first-come, first-served basis.
“This new grant program will help eligible and qualified first-time homebuyers achieve their dream of home ownership,” said John Murphy, mortgage department manager at the $430-million credit union.
The Homebuyer Assistance grant program aims to assist first-time homebuyers purchasing a single-family/one-unit owner occupied principal residence.
Non-military homebuyers are eligible for grants up to $3,000, not to exceed 25% of the purchase price of the home, while active military personnel and veterans are eligible for grants up to $5,000, not to exceed 25% of the purchase price.
Grants have no income, asset, or purchase price limits.