Michigan · Subsidized loan

MSHDA MI Next Home

Below-market rate + DPA for repeat buyers

30-year fixed rate for repeat buyers. Includes 0% deferred DPA. Not limited to first-time buyers.

MSHDA's MI Next Home extends DPA to repeat buyers in Michigan. The program helps homeowners purchasing their next property, whether upsizing, relocating, or re-entering the market after a break.

AmountBelow-market rate + DPA for repeat buyers

TypeSubsidized loan

Available inMichigan

First-time buyer requiredNo

Minimum credit score640

Multi-unit eligibleYes — 1-4 units

House-hack eligible

Repeat buyers can access DPA in Michigan — rare among state programs.

Programs that pair with this

FHA Loan Saves ~$33,000 on a $200K home vs 20% down

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VA Loan $0 down + no monthly mortgage insurance

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NACA Program $0 down + $0 closing + $0 PMI + below-market rate

National · Nonprofit program

MSHDA MI 10K DPA $10,000

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MSHDA First-Generation DPA $25,000

Michigan · Deferred loan

MSHDA MI Home Loan Below-market rate, stackable with MI 10K DPA

Michigan · Subsidized loan

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