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- Written by Olivia Huntley
First-Time Homebuyer Programs in Michigan: A Guide to Down Payment Assistance
Buying your first home can be exciting, but the down payment and closing costs can be overwhelming. Fortunately, Michigan offers several programs that help make it less expensive for first-time buyers to purchase their dream home. Here’s what you need to know about grants, state-backed loans, and assistance programs.
Best First-Time Homebuyer Programs in Michigan
- MSHDA Down Payment Assistance (DPA)
The Michigan State Housing Development Authority (MSHDA) offers a down payment assistance of up to $10,000 to eligible buyers. It can be combined with an MSHDA mortgage. - Detroit Home Mortgage Program
Helps buyers purchase homes in Detroit by offering second loans to fund appraisal gaps, rehabilitation, or other costs. - Federal Housing Administration (FHA) Loans
Possesses a low 3.5% down payment requirement, making it a very good option for buyers with little savings. - VA Loans
For active-duty military, veterans, and eligible spouses with zero down payment and no mortgage insurance. - USDA Rural Development Loans
Established for eligible rural and suburban buyers, offering 100% financing with no down payment required.
How to Qualify for Down Payment Assistance
- Be a first-time homebuyer (or not have owned a home in the last three years).
- Meet income levels set by the program.
- Purchase a qualified house in Michigan.
- Work with an experienced lender to find assistance.
See What You Qualify For
How See Open Homes Makes Homebuying Easier
First-time purchasers are overwhelmed by the complexity of home loans, grants, and down payment assistance programs. See Open Homes simplifies this by providing:
- Instant Access to Open Houses
View homes in your price range and location without needing an agent to schedule tours. - A Clear, No-Pressure Experience
Skip the hidden fees and high-pressure sales—just shop for homes at your own pace. - Helpful Links for First-Time Buyers
Learn about Michigan’s homebuyer programs and home financing options to make an informed decision.
Whether you’re just starting your search or ready to buy, SeeOpenHomes.com puts you in control of your homebuying experience with confidence. Start searching now!
Go see Open Homes!
