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Is MSHDA only for first-time home buyers?

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Is MSHDA only for first-time home buyers?

The answer to whether MSHDA, and its MI Home Loan 10K DPA down payment assistance, is only for first-time homebuyers is no, not entirely. While some areas of Michigan covered by MSHDA’s DPA program are specifically targeted towards first-time buyers, most of the state is considered a “targeted area” and open to both first-time and repeat homebuyers under certain conditions.

To determine your specific eligibility:

  • Explore the MSHDA website: They clearly outline the eligibility requirements for each program, including details on first-time and repeat buyer options. https://www.michigan.gov/mshda
  • Visit www.MichiganDPA.com to connect with an MSHDA-approved lender: John Higgins, Senior Loan Officer Mortgage 1, Inc NMLS 136061 can provide personalized guidance based on your specific situation.

Remember, the information provided here is a general overview. For accurate and up-to-date details on specific program offerings and eligibility requirements, it’s crucial to rely on these reputable sources:

  • The MSHDA website: https://www.michigan.gov/mshda
  • Visit www.MichiganDPA.com to connect with an MSHDA-approved lender: John Higgins, Senior Loan Officer Mortgage 1, Inc NMLS 136061 can provide personalized guidance based on your specific situation. 

Remember, program availability and eligibility criteria can change over time. It’s crucial to rely on official MSHDA sources or an MSHDA-approved lender for the most accurate and up-to-date information.

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