7 Best MSHDA Housing Lenders of 2021
The Michigan State Housing Development Authority, or MSHDA, offers mortgages and down payment assistance. Here are some Michigan lenders that can help you use an MSHDA loan to buy a house.
Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.
Whether you’re a first-time home buyer, or a repeat buyer looking to upgrade, MSHDA home loans and down payment assistance can provide a financial boost toward your goal. The first step? Finding a Michigan mortgage lender that participates in MSHDA housing programs.
NerdWallet has reviewed several MSHDA lenders and selected some top choices for a variety of borrower needs. We’ve also listed a few local lenders that aren’t rated by NerdWallet but close a high volume of home loans in Michigan.
Whether you’re a first-time home buyer, or a repeat buyer looking to upgrade, MSHDA home loans and down payment assistance can provide a financial boost toward your goal. The first step? Finding a Michigan mortgage lender that participates in MSHDA housing programs.
NerdWallet has reviewed several MSHDA lenders and selected some top choices for a variety of borrower needs. We’ve also listed a few local lenders that aren’t rated by NerdWallet but close a high volume of home loans in Michigan.
Best MSHDA Housing Lenders
Lender | NerdWallet rating | Min. credit score | Min. down payment | Learn more |
---|---|---|---|---|
![]() PNC: NMLS#446303 Learn more at PNC | Best for borrowers with limited credit history | 620 | 3% | Learn more at PNC |
![]() Fairway Independent Mortgage: NMLS#2289 Learn more at Fairway Independent Mortgage | Best for online lenders | 620 | 3% | Learn more at Fairway Independent Mortgage |
![]() Caliber: NMLS#15622 | Best for first-time home buyers | 620 | 3% | Read review |
![]() PrimeLending: NMLS#13649 | Best for buying a fixer-upper | 620 | 3% | Read review |
![]() loanDepot: NMLS#174457 | Best for buying a fixer-upper | 620 | 5% | Read review |
![]() US Bank: NMLS#402761 | Best for loan variety | 620 | 5% | Read review |
![]() Flagstar: NMLS#417490 | Best for first-time home buyers | 620 | 3% | Read review |

at Fairway Independent Mortgage
Fairway Independent Mortgage: NMLS#2289

Min. credit score
620Min. down payment
3%at Fairway Independent Mortgage
Caliber: NMLS#15622

Min. credit score
620Min. down payment
3%PrimeLending: NMLS#13649

Min. credit score
620Min. down payment
3%loanDepot: NMLS#174457

Min. credit score
620Min. down payment
5%US Bank: NMLS#402761

Min. credit score
620Min. down payment
5%Flagstar: NMLS#417490

Min. credit score
620Min. down payment
3%More MSHDA participating mortgage lenders
These MSHDA lenders are among the highest-volume mortgage providers in Michigan; however, they haven’t been reviewed by NerdWallet.
Offers to match competitors or provide a $300 closing cost credit.
Provides customized rate quotes with no personal info required.
Has an online application, appointment scheduling and live chat.
Has multiple mortgage-only offices and dozens of branches throughout Michigan.
Offers a wide variety of traditional and specialty mortgages.
Requires personal information for a custom rate quote.
Participates in the Detroit Home Mortgage program.
Has around 10 branch locations in northern Michigan.
Says it has been MSHDA’s top lender since 2014.
Offers a fast digital application experience.
Doesn’t publish mortgage rates on website.
Has around 20 branch locations in Michigan.
More from NerdWallet
Last updated on January 26, 2021
Methodology
To recap our selections...
NerdWallet's Best MSHDA Housing Lenders of 2021
- PNC: Best for borrowers with limited credit history
- Fairway Independent Mortgage: Best for online lenders
- Caliber: Best for first-time home buyers
- PrimeLending: Best for buying a fixer-upper
- loanDepot: Best for buying a fixer-upper
- US Bank: Best for loan variety
- Flagstar: Best for first-time home buyers