Michigan
Michigan down payment assistance, explained
Down payment assistance can help cover part of your upfront costs — here's generally how it works and where to check current details.
How down payment assistance generally works
Down payment assistance (DPA) programs provide funds to help cover some or all of a buyer's down payment and/or closing costs. These are often structured as a second loan — sometimes with no monthly payment, sometimes forgiven after a certain number of years of living in the home, and sometimes repaid at sale or refinance. The exact structure varies significantly by program, so understanding the terms of any specific assistance you're offered is essential before accepting it.
This is not a promise of assistance
Michigan programs to look into
MI Home Loan
Michigan State Housing Development Authority (MSHDA)
A 30-year, fixed-rate first mortgage offered through MSHDA-participating lenders statewide, for income-eligible buyers — often paired with the MI 10K DPA Loan below.
Who it may be for
- First-time homebuyers statewide (defined by MSHDA as not having owned a home in the previous three years)
- Repeat homebuyers purchasing in a designated targeted area
- Buyers who meet MSHDA's current income limit for their household size and county
- Program type
- 30-year fixed-rate first mortgage
- Minimum credit score
- 640, per MSHDA's current published guidelines
- Purchase price limit
- $566,355 statewide, effective June 1, 2026
- Income limits
- Vary by household size and county — MSHDA publishes the current table rather than one statewide number; check your county before assuming you do or don't qualify
- Can be paired with
- The MI 10K DPA Loan (see below)
Last verified: 2026-09-30
View official program page ↗MI 10K DPA Loan
Michigan State Housing Development Authority (MSHDA)
Up to $10,000 in interest-free, deferred down payment and closing cost assistance, available statewide alongside an MI Home Loan.
Who it may be for
- Buyers using an MI Home Loan who need help covering down payment, closing costs, or prepaid expenses
- Buyers willing to complete a required homebuyer education course
- Assistance amount
- Up to $10,000 toward down payment, closing costs, and prepaid expenses
- Repayment structure
- Interest-free and non-amortizing (no monthly payments). Deferred until you sell, refinance, pay off the first mortgage, or no longer live in the home as your primary residence
- Requirement
- Must be paired with an MI Home Loan; homebuyer education certificate required
Last verified: 2026-09-30
View official program page ↗Ready when you are
Want to know what you might actually qualify for?
A lender can review your specific numbers against current program rules.