Michigan Revives Mortgage Credit Certificate Program

July 9, 2009

Michigan revives plan to refund 20% of mortgage interest for many first-time homebuyers
by Chris Knape | The Grand Rapids Press
Monday July 06, 2009, 8:00 AM

The revival of an old program geared toward helping first-time homebuyers or those buying in targeted communities could save new homeowners thousands of dollars.

The Mortgage Credit Certificate program will refund 20 percent of the interest a borrower pays during the lifetime of the mortgage. It is set to be reintroduced July 13 by the Michigan State Housing Development Authority after being gone for about five years.

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