Lansing Nesties
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Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
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Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Michigan first time home buyers loan
Has anyone tried for this loan? We are thinking about trying for it but I have a few home owning friends that said they got turned away for "making too much" when their household income was 40K. Any info would be appreciated!
Re: Michigan first time home buyers loan
We looked into it 3 1/2 years ago (I think this is the same one...). There are a TON of stipulations attached i.e. you can't make over a certain amount within a certain number of years. If one of you is planning to get a promotion or take a different job, it probably wouldn't work. If you do go over that amount, the rate goes up or something like that. Again, I *think* this was the same loan, but don't quote me
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Have you tried just getting a regular loan? The rates are so low right now that you might not even need a 'special' loan.
Good luck!
Are you talking about a MSHDA loan? With a MSHDA loan I'm pretty sure there aren't any stips on future income...just current.
Also, I think it depends on the sales price of the home.
Are you talking about a MSHDA loan? If so, we have one but we got it over 3 years ago so I don't remember much about it. I do remember there were income guidelines that we had to meet for that time, but I don't remember there being any stipulations about future income.
Also, it was nice because we didn't need a downpayment and they can even roll your closing costs into the amount of the loan if you want. Once again, all of this is going by what the terms were in 2005.
But like LVila said, have you checked into just a regular loan? I think interest rates are at an all time low right now.
Let me know if you want the name of a contact person to talk to for advice and further info. We were very happy with who we worked with.
We did this with an 80/20 100% loan. Our rates are still low and we didn't have to have a downpayment.