Step 1 - Program Description
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.
- 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.