MSHDA Down Payment Assistance Special Announcement

May 7, 2023
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Mortgage News

MSHDA Down Payment Assistance will now be streamlined by offering one DPA program for $10,000. Previously only available in select zip codes throughout the state, MI 10K DPA will now be available to all eligible homebuyers and homeowners in Michigan, helping to make housing more attainable for Michiganders by eliminating one of the most common barriers to homeownership: the down payment.

What you need to know:

  • Applies to reservations made on or after Monday, May 8, 2023.
  • Zip code restrictions have been eliminated.
  • Max financing is not required.
  • All other MSHDA MI Home Loan and MI 10K DPA requirements still apply.

The $7,500 DPA program will no longer be available beginning May 8. Reservations made prior to May 8, 2023 for the $7,500 DPA program will remain in effect and cannot be changed to MI 10K DPA.

Want more information on this? Connect with your Mortgage Banker or contact us today.