Great news, FHA has increased their loan limits in Metro Detroit to $297,500 and the down payment assistance program is still available! Another great product offered by FHA is the 203k loan. The 203k allows buyers to borrow the money needed to repair the house they are buying. This is a good option when buying a bank owned or distressed property.
This is the time to take advantage of this buyers market, don't miss out. Some people are going to wait too long, and they'll be kicking themselves, saying I should have bought a home when the market was down. If you would like help finding a FHA approved lender, or more information on Macomb County Real Estate, give me a call, I'll be happy to assist you from start to closing!
Mike Mitchell - Realtor
GMAC The Kee Group
Direct: (586)291-2652
http://www.mmhomesearch.com/
It is great news! We were both waiting for word on FHA loan limits and the down payment assistance programs it seems. What a boost for our local real estate market don't you think?
Nice job Mike!