Programs - First Time Home Buyer

Call Now to Learn More: (248) 569-1486

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Here is a cute video from the Michigan State Housing Development Authority (MSHDA):

Down payment assistance UP TO $7500: Click HERE to see more details.

Michigan Down Payment Assistance Programs and Information

Visit FHA website for more information.

FHA Rate Buydown Program

3.50% Down Payment

640 minimum credit score

30 year fixed loan with temporary 1% decrease in rate in first year-Current rate is 2.25%/APR 3.58%

Streamline 203k Renovation Loan

Repairs which range from $5,000-$30,000+ may be included in loan amount.

Great program to fix up foreclosures. 

PMI Buster Program

NO PMI or private mortgage insurance

720 minimum credit score

Good Neighbor Next Door

Get home at 50% discount from HUD

Law enforcement, police officers, teachers, firefighters, and emergency technicians are eligible for this program

Conventional, FHA, VA programs available

Dream Makers Program

Grant program which matches your contribution three-to-one up to maximum up $5,000
Military personnel (Active Duty, Reserve, National Guard, Veteran) are eligible for this program
FHA, VA, USDA programs available
There are maximum income limitations

Heroes Program

Potential $1,000 off closing costs if you are a fireman, police officer, nurse, emergency technician, teacher, or member of military forces or veteran.

FHA Loan Program

3.5% Down Payment

620 minimum credit score

30 year fixed loan

MSHDA Down Payment Assistance Programs
$7500 in Down Payment Assistance (including closing costs)
0% Interest Rate (on this payment assistance amount - not the entire sale price)
Only Need 1% Down

Individual Development Account (IDA)
Low-income Qualification Apply
Match savings account toward down payment
Visit MSHDA Website for more information


Homeownership Vouchers
This is a sort of Section 8 for Home Buyers
Visit HUD Website for more informaiton

Call Now to Learn More: (248) 569-1486

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