Michigan Home Town Hero Real Estate Benefits
The Michigan Hometown Hero program is the best home buyer savings out there. It will save you a considerable amount of money. It will allow you to have more cash in your bank account after closing so you can do updates to your new home, or to buy furniture. The average person buying a $250,000 home will save $2,195. Here is how the Michigan Hometown Heroes Program works. We have designed this program to give back to you because you help make our communities a nicer place to live. We do this by offering real savings from local mortgage partners, home inspectors, title companies, and real estate professionals.
1.) The first step is learning about what you want in a home. We talk over the phone or sit down and listen to what you need and wish in a home. We need to know your goals, wants, and needs of you and your family. We will talk about where you work and where you want to live. We will talk about your budget on what YOU feel comfortable financially spending each month. This will give a basic game plan of how to start your search.
2.) During this first step we will answer any question you have. It pays to write your questions down so you do not forget about one of them when we are talking. We tell you upfront what you will be saving. This will be based on the home price you are projecting to buy. The final amount of savings you get may go up or down depending on your final home purchase price.
3.) The program to our local heroes is always FREE and NEVER with a catch. No upfront costs to apply for the program or to be part of the program. No long forms to fill out, or check to bring.
4.) Anybody that is any of the categories listed on the site is eligible. Also only one of the parties that is buying the house or on the loan needs to be eligible. If you have doubts or questions about being eligible for the Michigan Hometown Heroes Program give us a call. (248) 310-6239
5.) Each mortgage and real estate professional will be giving up part of their commission to give back to you. We also have also negotiated discounts for home inspectors and title companies too. It will be applied to your costs at the closing table. It will be applied toward the money you normally would have to bring to the table. It can add up to thousands of dollars! Money that you can keep in your bank account! The money will be applied to any one of these closing costs: escrows, pre-paid taxes, appraisal, insurance, or any miscellaneous closing cost on the settlement statement.
6.) In order to receive the full amount of the discount/credit towards your closing costs, down payment, or appraisal you MUST USE BOTH the real estate agent or mortgage person that is part of the Michigan Hometown Hero Program. It will be a lower amount if you only use one Michigan Hometown realtor or just the mortgage person. You are free to opt out using either of them at anytime or to drop out of the program at anytime. After all we want you happy and satisfied with your purchase and the whole transaction. We want you to save thousands of dollars! And to make your move easier!
7.) You cannot receive cash or a check! It must go towards closing costs, or appraisal.
8.) The savings will not take place until a successful closing occurs.
9.) You cannot go over maximum allowable seller's concessions allowed by the lender. It is a very rare case that this happens. How this comes into play is when or if you ask the seller to pay the maximum seller's concessions towards your closing costs. In many cases lenders only allow seller's concessions to be a maximum of 6% of the purchase price. The lenders will not allow you to get 6% seller's concessions plus the Michigan Hometown Heroes Program. It is the lender's rules that have no leeway. By using Michigan Hometown Heroes program you can get the maximum savings and ask the seller for a lower price. You will be a winner on both accounts!
Disclaimers and exclusions.
- A.) You have to be in the program (at least 2 weeks prior to closing) and notify us two weeks prior to closing in order to receive the discount. You CANNOT GET THE DISCOUNT AFTER THE CLOSING!
- B.) You cannot get cash.
- C.) You cannot ask retro actively to be part of the program. You cannot come back after you have closed and try to receive the discount.
- D.) You have to use the approved realtors and lenders to get the discount. Not using the approved lenders and real estate agents will result in either no discount or reduced discount. You can't just pick a realtor and lender and get the discount. If you wish to do that ask them directly to cut their fees and give the money to you.
- E.) Program does not include MSHDA Loans
- F.) Program is for the general metro Detroit. Including Wayne, Livingston, Washtenaw, Macomb, Oakland, and parts of Genessee Counties.
- G.) Sometimes due to amount of program participants we may not be able to take new participants or the participant realtor may not go to the area you are looking in.
- H.) We reserve the right not to work with a client.
Email us at MichiganHometownHeroes@gmail.com