Let the great state you live in help you buy a home. Find out if you're eligible for a Michigan Down Payment of up to $7,500.
Step 1 - Program Descriptions
MI Home Loan
The MI Home Loan is a mortgage program for first-time homebuyers statewide 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.
- All adults in the household MUST apply and credit qualify (except dependents 18 years of age and older that are full-time students).
- Maximum sales price is $224,500.
- Minimum credit score of 640 required or 660 for multiple-section manufactured homes.
Learn more about our other products: MI Home Loan Flex | Mortgage Credit Certificate
Step 2 - Am I Eligible?
- Find out if you may be eligible for the MI Home Loan or MI Home Loan Flex by using the MSHDA Eligibility Tool.
Step 3 - Contact a Professional