For buyers
Down Payment Assistance
A lot of Michigan buyers assume they need 20% down. You usually don't — and there are state and federal programs built to help with the cash you do need. These are the official sources, straight from the agencies that run them.
MI 10K DPA Loan
MSHDA (Michigan State Housing Development Authority)
Down payment assistance of up to $10,000 as a zero-interest second loan, paired with an MSHDA MI Home Loan. Nothing is repaid until you sell, refinance, or pay off the first mortgage. Income and sales-price limits apply and a homebuyer education course is required.
MI Home Loan
MSHDA
MSHDA's first mortgage for first-time buyers (and repeat buyers in targeted areas). Competitive fixed rate and the loan you pair the down payment assistance with. You apply through an approved lender, not through MSHDA directly.
MSHDA Approved Lender List
MSHDA
You must use a MSHDA-participating lender to get the assistance. This is the official current list.
Mortgage Credit Certificate (MCC)
MSHDA
A federal tax credit for part of the mortgage interest you pay each year, for as long as you keep the loan and live in the home. Has to be set up at the time of purchase — it cannot be added later.
Homebuyer Education (required for MSHDA assistance)
MSHDA Housing Education Program
Free or low-cost course through a MSHDA-approved counseling agency. Finish it before closing — most assistance programs will not fund without the certificate.
HUD-Approved Housing Counseling
U.S. Department of Housing and Urban Development
Free counseling from HUD-approved agencies in Michigan — budgeting, credit, and walking through what you can realistically afford.
Oakland County Home Improvement Program
Oakland County
Deferred-payment loans for income-qualified Oakland County homeowners making needed repairs. Useful after you buy, not for the down payment itself.
VA Home Loan Benefit
U.S. Department of Veterans Affairs
If you've served, a VA loan usually means no down payment and no monthly mortgage insurance. Worth checking before any other program.
USDA Rural Development Loan
U.S. Department of Agriculture
Zero-down financing in eligible rural areas — and more of Michigan qualifies than most people expect. Check the property address on the eligibility map.
How the process usually goes
- 1. Finish the required homebuyer education course and keep the certificate.
- 2. Apply with a lender that participates in the program — not every lender does.
- 3. Get pre-approved so you know your actual price range and what assistance you qualify for.
- 4. Shop for homes inside the program's sales-price limit.
- 5. The assistance is applied at closing, toward your down payment and closing costs.
Please read
I'm a real estate agent, not a lender, and this page is general information — not a determination that you qualify, an application, or a promise of funds. Program rules, income limits, sales-price limits, funding availability, and interest rates change frequently and are set by the agencies listed above, not by me. Always confirm current terms on the official page and with a participating lender before relying on any of it.
Want real numbers instead of estimates?
Send me the address or the price range you're considering and I'll get you the actual figures — the real tax bill, a lender quote, and what similar homes are selling for.