Help for First-Time Homebuyers! The new Michigan First-Time Homebuyers Savings Program, Explained.

Big news for first-time homebuyers in the great state of Michigan! This month, a new Michigan income tax break for individuals who are buying their first home was just signed into law. Even better, this same tax break applies to taxpayers assisting the first-time homebuyer (like a relative who is assisting with the purchases). The Michigan First-Time Homebuyers Savings Program creates special tax-exempt savings accounts for people to accrue funds to use on buying their first home. The [...]