MI Home Loan Flex

The MI Home Loan Flex program is designed for first-time and repeat homebuyers looking for a more flexible loan product and can be used with the Michigan Down Payment loan.

Please contact a MSHDA Experienced Participating Lender for current Interest Rates and to determine eligibility 

Program Description:

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

  • Available to first-time and repeat homebuyers statewide.

  • All adults in the household DO NOT need to apply.  Only qualifying borrowers 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. 

Resources: