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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