MI First Home
MSHDA offers programs that assist both first-time homebuyers and repeat buyers in Targeted areas with Down Payment Assistance up to $7,500. These funds can be used towards the down payment, closing costs, taxes and insurance that are due at closing. This greatly reduces the cash needed to close on a home purchase.
MSHDA Eligibility requirements include:
- A minimum credit score of 640 is required or 660 for multiple-section manufactured homes permanently affixed to a foundation, built after June 14, 1976 and taxed as real estate (not located in a rent/lease community).
- Property type restricted to Single Family Owner Occupied residence.
Please contact a MSHDA participating MI First Home Lender today to learn about additional eligibility requirements.