DOWN PAYMENT ASSISTANCE
SUPPORT TO HELP YOU BUY YOUR FIRST HOME
If you're a first-time homebuyer, you may be eligible for programs that make homeownership more affordable. Down payment assistance can come in the form of grants or zero-interest forgivable loans, helping you close the gap and move into your new home with confidence.
Assistance may be used toward:
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Your required down payment
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Reducing your first mortgage to qualify for a loan
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Eligible closing costs
Explore the state and locally funded down payment assistance programs below to see what might be available to you.
The MI 10K Down Payment Assistance (DPA) Program helps homebuyers with low and moderate incomes by providing up to $10,000 toward down payment, closing costs, and prepaid expenses. This assistance, available statewide, comes in the form of an interest-free loan.
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Available statewide
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Must be combined with a MSHDA MI Home Loan
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DPA up to $10,000
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Can be used for down payment, closing costs, and prepaid expenses
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Homebuyers must contact a MSHDA approved lender to apply
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Max financing is not required
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No monthly payments
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A homebuyer education certificate of completion is required for all homebuyers
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Repayment of the loan is deferred until certain events, such as payoff of the first mortgage, the sale or refinance of the home, or when the home is no longer owner-occupied.
INGHAM COUNTY DOWN PAYMENT ASSISTANCE PROGRAM
Application Materials Coming Soon!
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Program to offer up to $30,000 as a zero-interest, second-mortgage loan with no monthly payments to cover down payment and other costs associated with the purchase of a home in Ingham County.
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Income eligible homebuyers must earn less than 80% of Area Median Income (AMI). For a single individual household, qualified buyers can earn up to $56,480/year in Ingham County.
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DPA loans to be available on a first-come, first-serve basis with priority for first-generation homebuyers.
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DPA loans are 100% forgivable, with no requirements for repayment after seven years.
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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 Homebuyer Education course is required before closing.
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Limited funds are available and offered on a first-come, first-served basis.
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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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.
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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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 Homebuyer Education course is required before closing.
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Limited funds are available and offered on a first-come, first-served basis.
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.
More information available at lansingmi.gov/366/Down-Payment-Assistance