With a baby on the way, the Nguyen family began entertaining the idea of buying a home. And when they came across a model by Allen Edwin Homes, it was love at first sight.
There was just one catch: How were they going to pay for it?
“I was a little bit worried about the mortgage because the price was a little bit outside of our range,” Mike Nguyen said.
Fortunately, one of Allen Edwin’s preferred lenders had done her research and knew that the Nguyen family would qualify for a newly-expanded Mortgage Credit Certificate Program managed by MSHDA, the Michigan State Housing Development Authority. Through that program, qualifying first-time homebuyers anywhere in the state, or repeat buyers in targeted areas of Michigan, can get a dollar-for-dollar federal income tax credit worth 20% of the mortgage interest they pay each year.
