By using the equity in your home, you may qualify for a loan, to use how you choose, at an interest rate that is relatively low. Furthermore, under the tax law--depending on your specific situation--you may be allowed to deduct the interest because the debt is secured by your home. If you are in the market for credit, a home equity line may be right for you.
Farmers State Bank is an experienced participating lender of the Michigan State Housing Development Authority (MSHDA) mortgage home ownership programs. If you are interested in obtaining a MSHDA mortgage, call us and we can explain the different programs and determine if you meet the household income guidelines, property eligibility and credit requirements.
Download a MSHDA brochure
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