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    Whether you're a first-time homebuyer or a seasoned veteran of the housing market, MSHDA has a mortgage product to meet your needs. In partnership with our experienced lenders, let MSHDA help you find your dream home!


    MI First Home

    The MI First Home loan program is a mortgage product that is available to first-time homebuyers state-wide and repeat homebuyers in targeted areas.

    More information for the MI First Home Program

    Step 1 - Program Description

    • Down Payment Assistance up to $7,500. (Homebuyer Education class required.)
    • Available to first-time homebuyers (have not owned a home in the previous three years) statewide and repeat homebuyers in targeted areas.
    • Household income limits apply and can vary depending on family size and property location.
    • Sales Price limit - $224,500 statewide.
    • Minimum credit score of 640 required or 660 for multiple-section manufactured homes.

    Step 2 - Contact a Professional

    Top MI First Home Loan Officers
    Experienced MI First Home Loan Officers
    Housing Education Program
    Home Inspections and Property Checklist

    MI Next Home

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

    More information for the MI Next Home Program

    Step 1 - Program Description

    What are the overall eligibility requirements?
    • 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 will be underwritten for credit, assets and income.
    • Collections and judgments DO NOT necessarily need to be paid off.
    • Income limits can vary depending on family size and property location.
    • Maximum sales price is $224,500 statewide.
    • Minimum credit score of 660 required.

    Step 2 - Contact a Professional

    Experienced MI Next Home Loan Officers
    Housing Education Program
    Home Inspections and Property Checklist

    Mortgage Credit Certificate (MCC) Federal Tax Credit Program

    (Closed until June 2016)

    The Mortgage Credit Certificate (MCC) program provides housing assistance by issuing a federal tax credit to first-time homebuyers statewide and repeat homebuyers in targeted areas.

    More information for the Mortgage Credit Certificate Program

    Step 1 - Do I qualify?

    • Qualified homebuyers can credit 20% of their annual mortgage interest paid against their year-end tax liability. A tax credit is a dollar for dollar reduction in tax liability.
    • The tax credit is allowable every year for the life of the original mortgage (up to 30 years!)
    • Available to first-time homebuyers statewide and repeat homebuyers in targeted areas.
    • Household income limits can vary depending on family size and property location.
    • Maximum sales price is $224,500 statewide.

    Step 2 - Contact a Professional

    Contact a participating MCC Program Lender to learn more.
    Housing Education
    Home Inspections and Property Checklist