Question

Michigan state housing and development authority (MSHDA) provides below market interest rates to a borrower who's income does not exceed a certain limit in all of the following circumstances except?

Answer 1

The Michigan State Housing and Development Authority (MSHDA) provides below-market interest rates to borrowers who meet certain income limits, except when the borrower's income exceeds a certain limit.

Step-by-step explanation:

The Michigan State Housing and Development Authority (MSHDA) provides below-market interest rates to borrowers who meet certain income limits. However, there is one circumstance in which this does not apply.

The exception is when the borrower's income exceeds a certain limit.

For example, if a borrower's income is above the specified limit set by MSHDA, they would not be eligible for the below-market interest rates.