MI Home Loan

MI Home Loan

The MI Home Loan program is a mortgage product that is available to first-time homebuyers state-wide and repeat homebuyers in targeted areas.  All homebuyers work directly with a participating lender.

To determine eligibility please contact an Experienced Participating Lender 

Program Description:

• 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.

​Down Payment Assistance available

• MI DPA Loan up to $7,500 available statewide. (Homebuyer Education class required.)
• MI 10K DPA Loan up to $10,000 available in 236 zip codes. Michigan map with zip code locations. (Homebuyer Education class required.)

Resources:

• Top MI Home Loan - Loan Officers of 2020
• MI Home Loan Experienced Loan Officer Locator 
• MI Home Loan - Mortgage Companies, Banks, and Credit Unions 
• Mortgage Product Comparison (MI Home Loan & MI Home Loan Flex)
• MSHDA Housing Education Locator 
• Housing Education Program 
• Homebuyer Education Requirements
• Home Inspections and Property Checklist