BUSINESS BRIEF

Michigan to offer help 
to homebuyers in 8 cities

5/27/2014
BLADE STAFF
BIZ-REAL-2NDHOME-TB

A home purchased in Michigan.

KRT

LANSING — Michigan is helping provide lower interest rates to first-time homebuyers in eight cities.

About 300 individual or families in Detroit, Grand Rapids, Flint, Pontiac, Saginaw, Battle Creek, Benton Harbor, and Jackson can take advantage of a program announced Friday.

First-time homebuyers who meet eligibility requirements can get a 3.125 percent mortgage interest rate without down payment assistance. If they need help with their down payment, the interest rate is 3.625 percent.