For many hopeful homebuyers, the hurdle that stands between renting and owning is pulling together the down payment. However, many would-be homeowners are unaware that there’s a department in Michigan with a primary goal of promoting homeownership. These MSHDA programs provide a financial boost for lower-income households and those in areas with high housing prices.
The homeownership division of the Michigan State Housing Development Authority (MSHDA) provides a variety of products. Therefore helps homebuyers achieve and afford their 1st home. The down payment assistance programs (DPA) are designed for low to moderate-income homebuyers, depending on the home location and family size. Most importantly, these MSHDA programs offer several options to purchase a home with up to $10,000 in down payment assistance!
MSHDA’s Down Payment Assistance Loans:
FAQ’s
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