DOWN PAYMENT ASSISTANCE
A variety of down payment assistance programs are available to aspiring homeowners to help bridge the gap and close on their homes. Programs typically assist first-time homeowners through grants or zero-interest forgivable loans.
Funds may be used for:
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Down payment as required by the first mortgage lender
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A reduction to the first mortgage as needed for loan qualification
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Qualified closing costs
Below are state and locally funded down payment assistance programs.
Michigan State Housing Development Authority (MSHDA)
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MI Home Loan Program
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Available to first-time homebuyers who have not owned a home in the previous three years statewide.
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Household income limits apply and can vary depending on family size and property location.
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Buyer's personal investment must equal at least 1% of purchase price.
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Sales Price limit - $224,500 statewide.
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Minimum credit score of 640 required or 660 for multiple-section manufactured homes.
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Down Payment Assistance available​
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MI 10K DPA Loan up to $10,000 available statewide. Housing Education class required.
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More information available at michigan.gov/mshda/homeownership.
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City of Lansing Down Payment Assistance
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Up to $14,999 in assistance available.
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Available to first-time homebuyers who have not owned a home in the previous three years.
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Buyer must meet income and asset limits to qualify for the program.
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Home must be within City of Lansing city limits, permanently affixed and taxed as real estate.
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Home must pass City of Lansing DPA inspection.
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Buyer’s personal investment must equal at least $1,000.
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Completion of Home Buyer Education course is required before closing.
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Limited funds are available and offered on a first-come, first-served basis.
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Complete application can be submitted to LeighAnna Beach at leighanna@capitalareahousing.org, or dropped off at CAHP's office located at 600 W. Maple, Lansing, MI 48906.
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More information available at lansingmi.gov/366/Down-Payment-Assistance
City of East Lansing Down Payment Assistance
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Up to $30,000 in assistance available.
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Buyer must meet income and asset limits to qualify for the program.
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Home must be within City of East Lansing city limits.
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Buyer’s personal investment must equal at least 1% of purchase price.
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Deed restrictions are recorded at the time of purchase requiring the home to remain owner-occupied for 30 years.
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Completion of CAHP Home Buyer Education course is required before closing.
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Limited funds are available and offered on a first-come, first-served basis.
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Complete application can be submitted to Emma Henry at emma@capitalareahousing.org, or dropped off at CAHP's office located at 600 W. Maple, Lansing, MI 48906.
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City of East Lansing Employee Homeownership Program (EHOP)
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Up to $10,000 in assistance available for a home located in a target East Lansing neighborhood.
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Funds can be used to cover down payments and/or closing costs.
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Complete application can be submitted to Emma Henry at emma@capitalareahousing.org, or dropped off at CAHP's office located at 600 W. Maple, Lansing, MI 48906.
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Application Checklist and Form
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