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:

• Down payment as required by the first mortgage lender

• A reduction to the first mortgage as needed for loan qualification

• 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

• Available to first-time homebuyers who have not owned a home in the previous three years statewide and to repeat homebuyers in targeted areas.

• Household income limits apply and can vary depending on family size and property location.

• Buyer's personal investment must equal at least 1% of purchase price.

• Sales Price limit - $224,500 statewide.

• Minimum credit score of 640 required or 660 for multiple-section manufactured homes.

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Down Payment Assistance available

• MI DPA Loan up to $7,500 available statewide. Housing Education class required.

• MI 10K DPA Loan up to $10,000 available in 236 zip codes. 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.

• Available to first-time homebuyers who have not owned a home in the previous three years.

• Buyer must meet income and asset limits to qualify for the program.

• Home must be within City of Lansing city limits, permanently affixed and taxed as real estate.

• Home must pass City of Lansing DPA inspection.

• Buyer’s personal investment must equal at least $1,000.

• Completion of Home Buyer Education course is required before closing.

• 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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Application Packet

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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.

• Buyer must meet income and asset limits to qualify for the program.

• Home must be within City of East Lansing city limits.

• Buyer’s personal investment must equal at least 1% of purchase price.

• Deed restrictions are recorded at the time of purchase requiring the home to remain owner-occupied for 30 years.

• Completion of CAHP Home Buyer Education course is required before closing.

• 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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Application Packet

 

 

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.

• 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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