The Michigan State Housing Development Authority provides a Down Payment Assistance (DPA) program to help you purchase your home. It is a second mortgage that has to be used alopng with MSHDA’s MI First Home or MSHDA’s MI Next Home first mortgage. This program is for low- to moderate-income first time homebuyers, depending on the home location and your family size.
The MSHDA is gifting you the interest, and loaning you the $7,500 for as long as you need it without having ANY monthly payments. This can be a tremendous benefit for those who are struggling to come up with the down payment.
To get all the details of this program, visit the MSHDA webpage here, or contact them directly:
Michigan First Time Home Buyer Grants