Big NEWS from MSHDA!
The end of the legislative session was busy and ran right up into the holidays, so I wanted to take a second to celebrate some wins that Michigan's housing ecosystem earned last week. House Bill 5032 raises a legislative cap, allowing qualified first-time homebuyers in Michigan to purchase homes worth more than $224,500 with a MSHDA mortgage for the first time. It wasn't right that MSHDA homebuyers were barred from considering so many homes in our growing housing market, and this change brings us in line with our Midwestern neighbors. We also celebrated the passage of House Bill 5031, giving all of MSHDA's board members full voting privileges, and House Bill 5030, allowing MSHDA more discretion and flexibility to respond to market conditions by deciding when we cancel our own debt when we purchase it. All of these bills passed both chambers with bipartisan support and all of them strengthen our ability to move quickly with solutions to the housing challenges facing our neighbors. Learn more about HB 5032 and what it will mean for our mortgage program: https://lnkd.in/gKPYyd3v