Low Cost Home Repairs Loans Available for Michigan Home Owners/Landlords

Great news to help everyone with the expected higher heating costs this winter! The Michigan State Housing Development Authority is offering a low cost loan program to make energy efficient improvements. To be eligible for the loans, homeowners can not make over $74,750, but if you are a landlord, there are no limits. Loans for single family homes are available for up to $50,000 and $100,000 for landlord (landlords do not have income requirements). This figure is based on location of the home. Interest rates will vary from 4 up to 8% and are based on household income. If you do not have equity in your home, you can borrow up to $50,000. For more information call 517.373-8017 or log onto www.michigan.gov/mshda

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