Buying a home for the first time? Better yet, buying in Michigan? We work with the Michigan State Housing Development Authority (MSHDA) to help assist first time home buyers get in to the house of their dreams.
MSHDA offers mortgage assistance of up to $7,500 for qualified home buyers. The money can be used towards a down payment, closing costs, taxes and insurance due at closing.
MSHDA eligibility requirements include:
• Minimum credit score of 640 for most homes and 660 for manufactured homes
• Property must be single family / owner occupied, meaning you and your family must live in the home as your primary residence
• Purchase price maximum is $224,500 and income restrictions vary statewide and are determined by location and family size
Not a first time home buyer? You still may be able to take advantage of the program if purchasing a home in designated counties.