Here is a basic outline of  Michigan First-Time Home Buyer Programs

National first-time home buyer programs:

Conventional mortgage

VA loans

USDA loans


MSHDA highlights and eligibility requirements:


  • Available for credit scores as low as 640

  • Alternative credit review is available for some borrowers who have no credit score

  • The minimum down payment is 3% and down payment assistance is available

  • Available to first-timers as well as repeat home buyers in economically disadvantaged targeted areas such as the cities of Detroit, Grand Rapids, Flint and Dearborn, etc.

  • You have your choice of conventional, FHA, VA or USDA loans




  • The home has to be your primary residence

  • There are sales prices and income limits that vary by location

  • Overall debt-to-income ratio of 45% or less

  • You must attend a home buyer education course if you receive down payment assistance

  • You have to contribute at least 1% of the loan amount, even with down payment assistance


MSHDA Down Payment Assistance:



The Michigan State Housing Development Authority offers down payment assistance to people who buy their homes under the MI Home Loan and the MI Home Loan Flex programs. It comes in the form of a loan with no monthly payments. The Michigan Down Payment program offers down payment help up to $7,500.


*This is general information for those seeking to purchase a home in 2019. It is our good pleasure to assist you fully with your home buying purchase and needs. Phone our office for any ?'s ---586.949.8300---