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What is the Michigan housing Facilities Act?

The Residential Housing Facilities Act (known as the Residential Housing Exemption), 2022 PA 237, provides a tax incentive to owners of rental housing property of more than four units to enable renovation and expansion of aging facilities and assist in the building of new facilities.

What is the mission statement of MSHDA?

Simply put, as noted in its mission statement, MSHDA partners to provide homes and preserve places for the people of Michigan.

What does MSHDA cover?

MSHDA works with local communities and teams to promote stable housing opportunities and confront the issues facing low-income residents across Michigan. By assisting those in need with housing, education and community resources, we remove barriers for families and individuals working to achieve a better tomorrow.

What is the Property Improvement Program PIP in Michigan?

Property Improvement Program (PIP) To assist homeowners in Michigan to make repairs and improvements to their homes. Homeowners with equity in their home, annual household income of up to $105,700 and with a credit score of at least 620. Larger loan amounts require a minimum credit score of 660.

What does the Michigan State Housing Development Authority Act do?

The MSHDA programs primary purpose is to offer down payment assistance and first mortgages that give people support to overcome financial challenges and become homeowners. It has three main goals: help people build financial solvency, provide a roof for every homeless veteran, and improve the customer service.

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