5 Ways Michigan Home Improvement Loans Can Solve the Housing Crisis

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Declining home prices, vacant houses, a lot of renters...the housing market sure seems bleak when you read the headlines. We can solve the housing crisis with Michigan home improvement loans in a few ways. Here are five.

1. Turn vacant Fannie Mae-owned properties into lived-in homes. HomePath Renovation can help buyers get into these homes at a good price, while making home improvements to the house to make it their own!
2. Investors can buy up Fannie Mae-owned homes with HomePath financing. This will help get these homes off the market, and offers renters a chance to be in a house rather than a small apartment. Or the investors might use HomePath Renovation financing to fix it up and re-sell it.
3. The FHA 203k can help buyers close on a home before required renovations are done. Closing on the house before the work is done, with the commitment that it will get done, helps get buyers excited about fixer uppers.
4. Home improvement loans generally require a contractor do the work you finance. This helps put builders to work, since new housing construction is down in most markets. New jobs are a good thing.
5. Home improvement loans inject new life and excitement into a negative and down environment. Buying a house usually involves some "sweat equity" after you move in. A lot of folks may not look forward to that - financing professional work into the mortgage payment could ease the anxiety!

Learn more about this great option for Michigan home buyers (and other states as well) with "The Ultimate Guide to Home Improvement Loans" at the button below. The free guide takes you through your home improvement loan options in 14 easy-to-read pages. Download your copy today.

(Michigan from space courtesy NASA Goddard Photo and Video)