MSHDA down payment assistance
The Michigan State Housing Development Authority offers one of the most accessible down payment assistance programs in the state. Our agents can guide you through every step of qualifying and closing.
The basics
The Michigan State Housing Development Authority (MSHDA) offers down payment assistance programs designed to help Michigan residents achieve homeownership. Through the MSHDA DPA program, eligible buyers can receive up to $10,000 to put toward their down payment and closing costs.
The assistance is structured as a 0% interest, non-amortizing loan that is not due until you sell, refinance, or pay off your first mortgage. It is one of the most generous programs available in Michigan, and REALTEAM agents can guide you through every step.
Program benefits
01
$10K
In down payment assistance
Receive up to $10,000 in down payment assistance to help cover your upfront costs and get into your new home sooner.
02
Below market
Competitive interest rates
MSHDA offers below-market interest rates that can save you thousands over the life of your mortgage.
03
30-yr fixed
Predictable monthly payments
A 30-year fixed-rate mortgage with consistent monthly payments and the stability buyers need to plan ahead.
04
Both
First-time and repeat buyers
Unlike many programs, MSHDA is available to both first-time home buyers and repeat buyers in eligible areas.
Eligible counties
Wayne
County
Oakland
County
Macomb
County
Washtenaw
County
Livingston
County
St. Clair
County
Monroe
County
Genesee
County
Lapeer
County
Income limits
MSHDA income limits change based on where you buy and how many people live with you. Contact our team to verify your eligibility.
How to apply
01
Contact our team to verify your income, credit, and property requirements for the MSHDA program.
02
Work with a MSHDA-approved lender to get pre-approved and determine your buying power.
03
Search for homes within MSHDA purchase price limits with the help of your REALTEAM agent.
04
Complete the closing with your down payment assistance applied and move into your new home.
Get started
Let our experienced team help you take advantage of the MSHDA down payment assistance program.