Michigan First-Time Home Buyer Programs of 2021

NerdWalletJan 1, 2021
Michigan First-Time Home Buyer Programs

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Need help buying your first home? The Michigan State Housing Development Authority helps with two loan programs, plus a down payment assistance program.

If you haven't owned a home in the last three years, you can qualify as a . That means that if you owned a home but lost it more than three years ago in the housing crash, you may be able to get a fresh start under these programs.

These national loan programs appeal to many first-time home buyers. Offered by most lenders, the loans have low down payment or flexible credit requirements.

The offers mortgage programs for both first-time home buyers and repeat buyers. The mortgages feature fixed interest rates and low down payment requirements, and they can be combined with the authority's down payment assistance and mortgage tax credit programs.

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Start out on the Michigan State Housing Development Authority's "" page, which has links to information about the state's loan programs, including mortgage credit certificates and home buyer education classes.

If you need down payment assistance, take a look at MSHDA's down payment assistance page.

The authority's website maintains a county-by-county list of loan officers who do MI Home Loans.

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