MSHDA Information: Michigan Loan Program

MI Home Loan: The MI Home Loan is a mortgage program that in most cases, offers below market interest and reduced PMI rates on Conventional loans for first-time home buyers statewide and repeat home buyers in targeted areas.

MI Home Loan with Down Payment Assistance:  A slightly higher interest rate, but offers $7,500 with a 0% non-amortizing 2nd mortgage that does not have to be paid back until the home is sold  This program will provide up to $10,000 in Down Payment Assistance in these zip codes. Click Here

Mortgage Credit Certificate: The Mortgage Credit Certificate (MCC) program provides housing assistance by issuing a federal tax credit to first-time home buyers statewide and repeat home buyers in targeted areas.

**A Home Ownership Counseling Class is required for the MI Home Loan programs, but not the Mortgage Credit Certificate program