MI Home Loan Flex

The MI Home Loan Flex program is designed specifically for the repeat homebuyer and is available statewide. This program offers more flexibility than the MI Home Loan program and customers can still use our popular Down Payment Assistance.

To determine eligibility please contact an Experienced Participating Lender.

Program Description:

  • Down Payment Assistance up to $7,500 (or 4% of the sales prices – whichever is less).

  • Available to repeat homebuyers statewide.

  • All adults in the household DO NOT need to apply.  Only qualifying borrowers (that are repeat homebuyers) will be underwritten for credit, assets and income.

  • Collections and judgments DO NOT necessarily need to be paid off; the lender will follow their Automated Underwriting System findings.

  • Income limits can vary depending on family size and property location.

  • Maximum sales price is $224,500 statewide.

  • Minimum credit score of 660 required.