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Michigan State Housing Development AuthorityMichigan.gov, Official Web Site for the State of Michigan
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Down Payment Assistance

 

 

Thinking About Buying a Home?

Down payment assistance may be available from MSHDA to help you purchase your home. This program is for low- to moderate-income homebuyers, depending on the home location and your family size. The program includes a homebuyer education class that will give you valuable information as you take that first step toward homeownership.

  • Available with MSHDA's FHA or Rural Development first mortgages
  • Funds may be used for down payment, closing costs, prepaid/escrow expenses and a home inspection performed by a qualified home inspector
  • Zero-interest, non-amortizing loan with no monthly payments
  • The loan is due upon sale or transfer of the property or if the first mortgage is refinanced or paid in full
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