Dreaming of owning your first home in Michigan, but struggling with the down payment? You’re not alone—and the good news is, MSHDA (Michigan State Housing Development Authority) has a powerful solution for first-time homebuyers: up to $35,000 in down payment assistance! 💸
Let’s break it down so you can take full advantage of this incredible opportunity.
What is the MSHDA Down Payment Assistance Program?
MSHDA offers a program designed to help first-time homebuyers (and repeat buyers in targeted areas) overcome one of the biggest barriers to homeownership: the down payment and closing costs.
Up to $35,000 in assistance
Structured as a 0% interest loan, repayable only when you sell, refinance, or pay off your mortgage.
Available for single-family homes, condos, townhomes, and manufactured homes (on permanent foundations)
Who Qualifies?
You may be eligible if:
You’re a first-time buyer or haven’t owned a home in the last 3 years
You’re purchasing in Michigan
Your household income falls within MSHDA’s set limits (varies by county and family size)
You’re buying a home within MSHDA-approved price limits
You complete a Homebuyer Education course
Where Can It Be Used?
This program can be used throughout Michigan, with enhanced benefits in “targeted areas”—communities identified for revitalization. In those areas, you may be able to purchase a higher-priced home and still qualify.
Why It’s a Game-Changer
Helps you buy a home faster, without waiting to save a huge down payment
Keeps more cash in your pocket for moving, renovations, or savings
Offers flexibility and long-term affordability—there are no monthly payments on the assistance loan
First come, first served – the funds are limited and once they’re gone, they’re gone!
Don’t Miss Out – Act Now!
Funding is limited and awarded on a first-come, first-served basis—when it’s gone, it’s gone. If you’ve been thinking about buying your first home, this is the time to act.
if you’d like to know more about this program, check your eligibility, or get started with the application process.