Michigan Down Payment Assistance
Michigan Down Payment Assistance Programs
A guide to current down payment assistance options in Michigan, including the state Housing Finance Agency, well-known city and county programs, and live DPA mortgage pricing for Michigan homebuyers.
Michigan Housing Finance Agency
Michigan State Housing Development Authority (MSHDA)
MSHDA administers the primary DPA programs for Michigan. Program details below are current as of April 23, 2026 - confirm current terms directly with MSHDA before applying.
Statewide DPA Programs in Michigan
MI Home Loan
MSHDA
30-year fixed-rate first mortgage with below-market rates. Pairs with MSHDA down payment assistance.
Paired with: Conventional, FHA, VA, RD
- First-time homebuyer: Required
- Primary residence only
- Minimum FICO: 640
- Income: MSHDA county-based income limits apply (household income); see MSHDA schedule.
- Homebuyer education required
Repeat buyers may qualify in targeted areas. Sales price limit applies statewide.
Source: www.michigan.gov
MI 10K DPA Loan
MSHDA
Up to $10,000 at 0% interest as a second mortgage. No monthly payment; due at sale, refinance, or payoff of the first mortgage.
Paired with: Conventional, FHA, VA, RD
- First-time homebuyer: Required
- Primary residence only
- Minimum FICO: 640
- Income: MSHDA county-based income limits apply; see MSHDA schedule (limits vary by county and household size).
- Homebuyer education required
Must be paired with an MSHDA MI Home Loan or MI Home Loan Flex first mortgage.
Source: www.michigan.gov
MI Home Loan Flex
MSHDA
30-year fixed-rate first mortgage with broader underwriting flexibility; pairs with the MI 10K DPA.
Paired with: Conventional, FHA, VA, RD
- Primary residence only
- Minimum FICO: 660
- Income: MSHDA Flex income limits apply; see MSHDA schedule.
- Homebuyer education required
Not restricted to first-time buyers statewide. Has some different overlays than the standard MI Home Loan.
Source: www.michigan.gov
Major City & County Programs in Michigan
Detroit Down Payment Assistance Program
City of Detroit Housing and Revitalization Department · Detroit, MI
Up to $25,000 for down payment and closing costs for income-eligible buyers purchasing in Detroit.
Household income at or below 80% AMI; cannot have held a marketable interest in property in the prior 3 years; 1-2 unit primary residences in Detroit only. Funding is subject to availability.
Source: detroitmi.gov
2026 Loan Limits in Michigan
Conforming (Conventional)
$806,500 baseline
FHA
$524,225 floor
Most Michigan counties use the FHA floor limit.
Live DPA Pricing for Michigan
Pricing below is sourced live from hundreds of wholesale lenders for a Michigan scenario. Edit the inputs to match your situation.
FHA Down Payment Assistance
Up to 5% assistance; repayable second at first rate + 2% over 10 years
▸Program details
- ✓Minimum credit score: 580
- ✓Non-traditional credit also possible
- ✓Assistance up to 2.5%, 3.5%, or 5% of the lesser of purchase price or appraised value
- ✓Assistance can be used for down payment, closing costs, or both
- ✓Second lien: 10-year fixed, repayable
- ✓Second lien rate is 2% higher than the first mortgage rate
- ✓No first-time homebuyer requirement
- ✓No income cap
- ✓Purchase of primary residence only
- ✓Eligible properties: 1-unit residences, PUD, 2-4 units, FHA-approved condos, manufactured (single/double-wide)
- ✓DTI per AUS and FHA manual underwriting guidelines
- ✓First lien: FHA 30-year fixed
Assistance amount
Compare DPA options for Michigan with live pricing
Rate Direct pairs down payment assistance with live first-lien pricing so you see the combined monthly payment up front.