Homebuyer Education Classes, Required for Michigan State Housing Development Authority (MSHDA) Loan Program, Now Available for Free at Gesher Human Services

Photo by Kindel Media

In-person classes to be held in Southfield, virtual options available to all Michiganders; housing market in Michigan favorable to buyers.

 Gesher Human Services, one of the largest human service agencies in metro Detroit, is offering Homebuyer Education Classes twice a month through the end of January. While the four-hour classes typically cost $50 for a family, this season the fees are being waived, to remove one extra barrier to families getting into a home that they can own.

Such classes are a requirement for the Michigan State Housing Development Authority (MSHDA),

Down Payment Assistance Program which provides $7,500-10,000 loans to families with limited incomes hoping to purchase a home.

A report by Patch in October suggested the Michigan housing market is showing signs of shifting toward buyers, giving buyers more negotiating power than sellers. Experts believe this is because there are fewer buyers than normal because some have been priced out of the market, and others are worried because of economic uncertainty. The in-person classes will be held at Gesher’s headquarters in Southfield (29699 Southfield Road) from 9 a.m. to 1 p.m.; afternoon classes are held virtually from 4-8 p.m. and are available to Michiganders living outside Metro Detroit. To register for a class on Nov. 9, Nov. 23, Dec. 7, Jan. 11 or Jan. 25 go to geshermi.org/events.

“We know that potential homeowners are concerned about the 7% interest rate but there is no guarantee that this rate will change anytime soon. By eliminating fees for Homebuyer Education Classes, we are trying to do our part, so Michiganders don’t have to put their homeownership dreams on hold,” said Gesher’s Financial Education Manager Laltsha Cunningham. After participants have attended one class, they receive a certification that is good for one year and which allows them to apply for a MHSDA home loan.

Families who are hoping to become homeowners will learn about the entire homebuying process,

including credit education, how to qualify for a mortgage, mortgage terminology, proper home maintenance, money management and how to avoid foreclosure.

“Every day I’m taking calls from people who are on the verge of losing their home, so we have to ensure people are also aware of the steps they need to take if a negative financial situation arises,” said Cunningham. She also stressed that some mature adults in their 50s and 60s may think they have left it too late to purchase a home.

“We tell them that they are not too old, that owning a home can provide great stability and build equity,” she said. “If you are renting you are living in someone else’s assets plus you always have concerns about rent increases. Our message is:  take the class, it’s a great way to get a head start on the new year. Start saving now and achieve your dream of home ownership in 2027.”

Beyond the class, Gesher is also offering 1:1 mortgage readiness and pre-approval counseling through its financial education team. For more information email financialhelp@geshermi.org or call 248.233.4299.

About Gesher Human Services

Gesher Human Services is a non-profit organization providing a bridge to hope and opportunity for people at work, at home, and in the community. It is dedicated to helping people across metro Detroit lead more stable and fulfilling lives through workforce development, career mobility, behavioral health, inclusion programming, and residential services that serve all metro Detroiters while meeting the needs of the Jewish community. The organization works with job seekers, individuals with disabilities, older adults, and the broader community to provide the skills, support, and equitable opportunities necessary for people to succeed. Gesher draws on over 110 years of combined experience to facilitate equitable employment opportunities and enhance mental health outcomes for Metro Detroiters. With a network of almost 500 employees and volunteers across more than 25 locations in southeast Michigan, Gesher delivers a continuum of services and support that directly impacts the lives of nearly 34,000 individuals and families annually. More information at www.geshermi.org.