Up to $10,000 statewide. 0% interest, no monthly payments, deferred until sale or refinance.
MSHDA's MI 10K DPA provides $10,000 for buyers in targeted ZIP codes — areas designated for community investment. In these targeted areas, the DPA is a 0% interest loan that's fully forgiven if you maintain residency.
Michigan's targeted areas include neighborhoods in Detroit, Grand Rapids, Lansing, Flint, and Saginaw. With median home prices in many of these areas under $150,000, $10,000 can cover 7% or more of the purchase price — significantly reducing or eliminating the cash needed at closing.
Pair with FHA on a multi-unit. Michigan median prices are low enough that $10K covers most down payments.
We'll show you how to combine MSHDA MI 10K DPA with other programs to maximize your free money — personalized to your ZIP code and income.