Michigan State Housing Development Authority (MSHDA) Programs:
Updated June 15, 2026MSHDA offers long-term, fixed-rate mortgages through participating lenders plus multiple down payment assistance options for eligible buyers. Key program facts: MI Home Loan (minimum credit score 640; typically 660 for some manufactured-home underwriting) and a statewide sales price cap of $566,355 (effective June 1, 2026). See details and lender contacts at MSHDA Homeownership.
MSHDA First-Time Homebuyer Mortgage Programs:
Eligibility: First-time buyers (no owned primary residence in prior 3 years) or repeat buyers in targeted areas; household income limits vary by county and family size.
Offerings: 30-year fixed mortgages available with FHA, VA, USDA, or conventional underwriting via MSHDA-participating lenders; Mortgage Credit Certificate (MCC) tax credit is also available to qualifying buyers.
- Purchase price cap: commonly $566,355 statewide (effective June 1, 2026) — confirm county- and ZIP-level caps with your lender. See MSHDA program page for income & sales-price guidance. MSHDA MI Home Loan.
- Minimum credit score: typically 640 (660 for certain manufactured-home underwriting). See a participating lender or MSHDA product pages for exceptions and product-specific credit rules.
- Income limits: county- and household-size specific; check the MSHDA income chart or ask an approved lender.
- Homebuyer education: required when using most MSHDA down payment assistance products; use the MSHDA housing education locator on the MI Home Loan page.
Down Payment Assistance (DPA) Options (MSHDA and county/city examples):
MI DPA Loan: Zero-interest second mortgage commonly available up to $7,500 when paired with a qualifying MI Home Loan (statewide availability can vary by product). See MSHDA homeownership pages for lender pairing and borrower requirements. MSHDA MI Home Loan.
MI 10K DPA Loan: Interest-free second mortgage up to $10,000 for eligible borrowers (must be paired with a qualifying MI Home Loan first mortgage). Check the MI 10K page for ZIP-level eligibility and program rules. MSHDA MI 10K DPA.
First-Generation DPA (pilot): MSHDA ran a First-Generation pilot offering up to $25,000 in 2025; MSHDA currently lists that pilot as closed and funds exhausted — do not rely on availability without checking MSHDA. MSHDA First-Generation DPA (closed).
Local Programs (examples to check):
City and county programs provide additional deferred or forgivable assistance. Funding and amounts change; work with a participating lender or program administrator to apply.
Detroit / Wayne County
Detroit Down Payment Assistance: City program phases have offered awards up to about $25,000 for eligible Detroit buyers (income limits and residency requirements apply). Confirm application windows and phase details on the City of Detroit DPA site. Detroit DPA.
Grand Rapids / Kent County
Grand Rapids Homebuyer Assistance Fund (HAF): Local HAF provides assistance often up to $7,500 for qualifying buyers within city limits; requirements include income limits and homebuyer education. Grand Rapids HAF.
Lansing / Ingham County
Ingham County DPA: County DPA programs can be larger; Ingham County documents assistance examples up to $30,000 with forgiveness schedules and program rules. Confirm availability and lender partners. Ingham County DPA.
Other loan types to consider:
- USDA Rural Development: 0% down mortgages in eligible rural areas; income and property eligibility rules apply.
- VA Loans: 0% down for eligible veterans and active-duty service members.
- FHA Loans: 3.5% minimum down for borrowers with 580+ credit score; different rules apply below that score.
Always confirm current rates, income and purchase limits, and program availability with an MSHDA-approved lender or the local program administrator. Use the official MSHDA pages above for the most up-to-date program details and lender locators.
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