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MSHDA MI 10K Down Payment Assistance (DPA) Program

Michigan State Housing Development Authority offers the MI 10K Down Payment Assistance (DPA) Program to first-time buyers in Michigan: up to $10,000, as a deferred loan.

Amount
As much as $10,000
The type of help
A loan you repay later
Only open to first-time buyers
That's true, although in targeted areas repeat buyers can also qualify
Course for homebuyers
Required

This is a deferred loan with a 0% rate. Repayment happens when you sell, refinance, finish paying your main home loan or move out of the home.

You pay nothing each month on a deferred loan, but the entire amount comes due when you refinance, sell or pay off the first mortgage.

Who can get the MSHDA MI 10K Down Payment Assistance (DPA) Program?

  • It's for buyers on low and moderate incomes.
  • Yes, it's limited to first-time buyers, though in targeted areas repeat buyers qualify too.
  • Before you buy, you'll take a homebuyer education course.
  • You get it together with your MSHDA MI Home Loan.

Your county and household size set most limits. Use our HUD income limits tool to find the median income for your area and see where your household stands.

Applying for the MSHDA MI 10K Down Payment Assistance (DPA) Program

  1. You apply through one of the approved lenders Michigan State Housing Development Authority uses to pay out this help, together with your home loan.
  2. The lender compares your credit, income and the home to the program's rules, then reserves the money for you.
  3. At closing, the help goes toward your closing costs and down payment.

For the complete rules and to see if applications are open, visit Michigan State Housing Development Authority's page for the MI 10K Down Payment Assistance (DPA) Program.

Talk with a lender about the MSHDA MI 10K Down Payment Assistance (DPA) Program

Tell us where you're buying and a lender that works with Michigan's programs can tell you whether MSHDA MI 10K Down Payment Assistance (DPA) Program fits you, and what you could combine with it.

Call 866-602-7460

Prefer not to call? The lender will get in touch once you send your details.

When you send this request, you agree that one mortgage lender who works with these programs may contact you by email, phone or text, including by automated means, about this request. Agreeing is not a condition of any purchase. We are an independent guide, not a lender or a government agency; only that one lender gets your details, and it may pay us for the introduction. See our about page and privacy notice.

Additional help for Michigan buyers

Every Michigan first-time home buyer program · Down payment help in every state