These are the Michigan programs in our database — state housing finance agency assistance plus any local or regional funds we track. Awards, income limits and funding availability are set by each administering agency and change without notice, so confirm anything you plan to rely on directly with them.
Illustrative regional photo. This Michigan page is informational research only — Simply Approved Mortgages does not originate residential mortgages in Michigan.
Quick answer: How does down payment assistance work in Michigan?
Michigan buyers can use assistance from the state housing finance agency and, in many areas, from a city or county fund on top of it. Awards arrive as a grant, a forgivable second, a deferred second or a repayable second, and eligibility is decided by county income caps, purchase-price caps and buyer status rather than by credit score alone.
TL;DR
Statewide and local Michigan programs can often be layered on one purchase.
Income and purchase-price caps are published county by county.
Funding availability is set by the administering agency and can pause without notice.
We are not licensed in Michigan, so this page is research only — work with a lender licensed there.
Quick questions
Who runs assistance programs in Michigan?
The Michigan housing finance agency runs the statewide programs; cities and counties administer their own local funds separately.
Is there an income limit in Michigan?
Yes. Each program publishes household income caps that vary by county and often by household size.
Can I use assistance on any home in Michigan?
Only on an owner-occupied primary residence within the program's area and under its published purchase-price cap.
Published ·Last updated
Reviewed September 2026
2026 official data
Data verified January 1, 2026
Data source: HUD
Data source: HUD — CHUMS forward limits file
Educational information only — we are not licensed in this state
Simply Approved Mortgages LLC is licensed to arrange residential mortgage loans in Florida and Colorado only. We are not licensed in Michigan and this page is not an offer, solicitation, advertisement of credit terms, quote, pre-approval or commitment to lend in Michigan. The figures shown are published HUD/FHA county loan-limit data provided for general educational reference. We do not accept mortgage applications, take loan inquiries, or originate loans for properties in Michigan. For financing in Michigan, please contact a mortgage professional licensed in that state.
Monthly review
September 2026 Michigan Down Payment Assistance Review
We reviewed Michigan housing finance agency program notices, published income and purchase-price limits, local city and county assistance funding updates and federal housing and mortgage-market data relevant to this page. No material changes requiring substantive revisions were identified this month. The information and sources shown here remain current as of our latest review.
•Checked: Michigan housing finance agency program notices
•Checked: published income and purchase-price limits
•Checked: local city and county assistance funding updates
•Checked: federal housing and mortgage-market data
Sources:
U.S. Department of Housing and Urban Development (HUD), HUD, HUD — CHUMS forward limits file
IRS Mortgage Credit Certificate program administered by state and local HFAs. Converts up to 20–30% of your annual mortgage interest into a dollar-for-dollar federal income tax credit for the life of the loan. Not DPA cash — a lifetime tax benefit. Must be a first-time buyer (or in a targeted area) and stay in the home as your primary residence.
Repayment: A federal income tax credit, not cash toward your down payment.
Nationwide via our wholesale lender — we originate in FL and CO only
Min credit
580
First-time buyer
Not required
Offered by Simply Approved Mortgages LLC and delivered through our wholesale lender partner: up to 5% of the lesser of purchase price or appraised value, structured as a repayable 10-year fixed second mortgage on a qualifying primary residence. Layers with FHA 203(b) or FHA 203(k) purchase first mortgages only. The second lien is priced at the first-mortgage rate + 2.00% and is fully amortizing — not a grant and not forgivable. The wholesale lender offers this product nationwide, but Simply Approved Mortgages LLC is licensed to arrange residential mortgage loans in Florida and Colorado only, so we can originate it in those states only.
Repayment: A recorded lien with a monthly payment that is underwritten into your debt-to-income ratio. It is a loan, not a gift.
State Housing Finance Agency first-mortgage plus down payment and closing cost assistance for eligible primary-residence buyers in MI. Structures include grants, forgivable second liens and 0% deferred seconds depending on the loan option chosen. Income, purchase price and credit limits vary by county and program tier — verify current terms on the agency's own site.
Repayment: A recorded lien with no monthly payment. The full balance comes due on sale, refinance, transfer or payoff of the first mortgage.
Because we are not licensed in Michigan, we do not accept applications or loan inquiries for properties here. Use this page as research and work with a mortgage professional licensed in Michigan.
How down payment assistance helps you buy in Michigan
Down payment assistance closes the cash gap between what a lender will lend and what a seller needs at the closing table. For most buyers it is the difference between purchasing this year and saving for another three to five. Terms and availability are set by each administering agency and can change or run out of funding without notice.
You buy years sooner
Saving a 5% down payment on a median-priced home usually takes several years. Assistance covers most or all of that gap now, so your timeline is set by your credit and income rather than by your savings balance.
Your own cash stays intact
Because the assistance funds the down payment and, on many programs, closing costs, your savings can stay where they belong — reserves, moving costs, and the repairs that show up in the first year.
Often no monthly payment added
Grants and forgivable or deferred second mortgages add nothing to your monthly payment. Only a repayable second creates a second monthly obligation, and every program card on this site states which structure applies.
It stacks with normal financing
Assistance attaches to a standard FHA, conventional, VA or USDA first mortgage originated by a lender approved for that program, so you are not trading away loan choice to use it.
What you have to meet
Income limit
Household or qualifying income must fall at or below a published cap, set by county and usually adjusted for household size. This is the most common disqualifier, so check it first.
Purchase-price cap
Most programs limit the acquisition cost of the home, and the cap can differ between new construction, existing homes and federally targeted areas.
First-time buyer status
Commonly defined as no ownership interest in a primary residence for the past three years. Veterans and targeted-area purchases are frequently exempt.
Credit score
Program minimums typically sit in the low-to-mid 600s, and the first mortgage carries its own minimum. The higher of the two governs your file.
Owner occupancy
The home must be your primary residence. Investment and second-home purchases are not eligible, and moving out during a forgiveness period usually accelerates repayment.
Homebuyer education
Most programs require an approved course certificate before closing. It takes a few hours online — take it early, because it is a hard closing condition.
Participating lender and reservation
Funds are delivered through the first mortgage and reserved by an approved lender, normally once you are under contract. Eligibility alone does not hold money; the reservation does.
A realistic timeline
Week 1Check the county income and price limits, pull your own credit report, and start the homebuyer education course.
Week 1–2Work with a lender approved for the specific assistance program you want to use to confirm your financing.
Week 2–8Shop inside the program's eligible area and price cap, then write an offer that allows time for the assistance paperwork.
At contractYour lender reserves the assistance funds while the file moves through underwriting.
At closingFunds are wired to the closing agent and applied to your down payment and permitted closing costs — they are never paid to you as cash.
Timelines are illustrative and vary by program, lender and market. Nothing here is an offer of credit, an approval, or a guarantee of assistance eligibility, funding availability or any particular term.
Michigan FHA loan limits (2026)
Most down payment assistance is layered on top of an FHA, conventional, VA or USDA first mortgage, so the county loan limit sets the ceiling on the FHA first mortgage the assistance would sit behind. HUD publishes a limit for each of the 83 counties in Michigan; one-unit limits run from $541,287 to $541,287, against a median county sale price of about $178,000. A limit is a cap on insurable loan size, not an approval amount.
Highest 2026 FHA loan limits by county in Michigan
Effective for case numbers assigned on or after January 1, 2026. Source: HUD CHUMS forward loan limits. Simply Approved Mortgages is not affiliated with HUD, FHA or any government agency.
Michigan housing and lending data
Published federal figures we refresh automatically, shown so you can size up the market a down payment assistance program would be used in. Context only — none of it decides eligibility, and none of it is a rate quote or an offer of credit.
National mortgage market readings
Published national series, refreshed automatically. They are not a quote, an offer of credit, or the terms of any assistance program, and no rate is available to you until a lender underwrites your file.
Dated changes we recorded from administering agencies and public housing data. Each item links to the source it came from.
Rates
15-year fixed mortgage rate (national average): 6.09% as of September 10, 2026
That is 0.05 points higher than the prior reading. Rate moves change the payment behind any assistance award in Michigan, and can move the price a program's income cap still supports.
Source: Federal Reserve Bank of St. Louis (FRED) · View source
Taxes and closing charges in Michigan
Assistance solves the cash-to-close problem. These are the costs that stay with you afterwards, and the one-time state charges that land on your Closing Disclosure. Figures are modelled on the approximate statewide median home price of $245,000 for Michigan using Michigan's published statewide effective property tax rate — an estimate for planning, not a quote for a specific property.
Effective property tax rate
1.38%
Michigan statewide, above the national effective rate of 0.90%.
Why this matters here. At the national effective rate of 0.90%, the same $245,000 home would carry about $2,205 a year. Michigan runs 0.48 points higher, roughly $1,176 more a year, which is real qualifying-payment pressure that assistance does not reduce.
Transfer and documentary charges. Michigan charges $3.75 per $500 state real estate transfer tax plus $0.55 per $500 county, normally paid by the seller.
Homeowners insurance. Homeowners insurance is escrowed with the mortgage payment and quoted per property, not per state. Roof age, claims history and distance to a fire station move the number more than the state does.
Estimates only. Property tax is assessed locally and millage, exemptions (including homestead), and assessment ratios change the actual bill. Transfer, documentary and recording charges are itemised on your Closing Disclosure. This is not tax advice — confirm with your closing agent and a tax professional. Sources: U.S. Census Bureau, American Community Survey (property taxes paid) · Tax Foundation — property taxes by state.
Michigan down payment assistance questions
What down payment assistance is available in Michigan?
Our Michigan database holds 3 programs — tax-credit, repayable-second-mortgage and deferred-second-mortgage — administered by IRS · Section 25 MCC, Simply Approved Mortgages LLC · NMLS# 2620881 and MSHDA. Program rules are set by the administering agency, change without notice and can run out of funding mid-month, so confirm anything you plan to rely on directly with them before you write an offer.
How much down payment assistance can a Michigan buyer receive?
Awards for Michigan are recorded as a percentage of the purchase price, topping out at 5% in our data.
Who qualifies for down payment assistance in Michigan?
Typical qualifying rules are a household income under the program cap, a credit score at or above the program minimum (as low as 580 in our Michigan data), a purchase price under the sales-price cap, occupancy of the home as your primary residence, and — for 1 of the 3 programs — first-time buyer status.
Is down payment assistance in Michigan a grant or a loan?
Both structures exist. Our Michigan records include 0 grants, 0 forgivable seconds, 0 deferred seconds and 0 repayable seconds. Only a true grant is never repaid.
What income limits apply in Michigan?
Michigan agencies publish household-income caps by county and household size. We do not have a monthly figure recorded for every program, so check the agency table for the county you are buying in.
Is there a purchase-price limit for Michigan assistance?
Most Michigan programs cap the sales price, usually at or below the county FHA loan limit. Check the county page for the current FHA ceiling and the agency page for the program cap.
Do I have to be a first-time buyer in Michigan?
1 of the 3 Michigan programs we track require it, using the standard definition of no primary-residence ownership in the past three years. Veterans and buyers in targeted areas are the most common exceptions.
Which loan programs can Michigan assistance be paired with?
3 of the Michigan programs in our directory allow FHA, 2 allow conventional, 2 allow VA and 2 allow USDA. The assistance sits behind the first mortgage as a second lien or is applied as a credit at closing.
Is homebuyer education required in Michigan?
We have no education requirement recorded for the Michigan programs listed here, but agencies commonly add one. Completing a HUD-approved course early avoids a last-minute delay.
How do I apply for down payment assistance in Michigan?
Applications run through a participating lender rather than the agency. The lender pre-qualifies you for the first mortgage, reserves the assistance while funds remain, and coordinates the education certificate and second-lien documents at closing.
Can assistance funds run out in Michigan?
Yes. Most programs are funded in rounds and reserved first-come, first-served, so a program that is open in one month can be fully committed the next. That is why we show funding status and a source-check date on each program page instead of treating availability as permanent.
Does down payment assistance affect my mortgage rate in Michigan?
It can. Some agency programs require you to take the agency's own first mortgage, whose rate is set by the agency and may differ from a standard market rate, and some price the assistance into the first-mortgage rate. Compare the total cost, not just the assistance amount. Any rate you are quoted depends on your credit, loan amount and other factors and requires full disclosure before it is binding.
Does every Michigan county have assistance?
Statewide housing finance agency programs generally cover every county, while city and county funds exist only where a local government has budgeted for them. Limits and caps still vary county by county even for statewide programs.
Can Simply Approved Mortgages originate a Michigan mortgage?
Simply Approved Mortgages LLC (NMLS #2620881) is licensed for residential mortgage origination in Florida and Colorado only, so this Michigan page is research and education — we cannot originate, solicit, arrange or broker a loan there. Work with a lender licensed in Michigan.
Current data & page updates
Page last reviewed
September 5, 2026
Page last substantively updated
September 5, 2026
Data last verified
January 1, 2026
Current data year
2026
Primary sources
U.S. Department of Housing and Urban Development, HUD, HUD — CHUMS forward limits file
Next scheduled review
October 5, 2026
Current monthly review
September 2026
Live data feed
No
Licensing & Disclosures
Simply Approved Mortgages LLC | NMLS #2620881
Florida Mortgage Broker License #MBR7685 | Colorado Mortgage Company Registration
Simply Approved Mortgages LLC is a mortgage broker and is not a direct lender. We arrange residential mortgage loans in Florida and Colorado.
Eligibility, terms, conditions, and availability vary by borrower, property, lender, loan program, and state. Not all products or programs are available in all states. All loans are subject to lender underwriting and approval. Equal Housing Opportunity.
Estimate your assistance amount, the second-lien payment and where you stand against the program rules. Illustrative only — not a quote, offer or commitment to lend. Provided for general education only: we are licensed in Florida and Colorado only and cannot originate, solicit or accept mortgage applications in Michigan.
Simply Approved Mortgages DPA
DPA amount calculator & eligibility checker
Estimate 3.5% assistance on the lesser of price or appraisal, layered over a 30-year fixed FHA first mortgage.
Estimated DPA
$14,000
3.5% of $400,000
2nd-lien P&I
$174
10-yr · 8.500%
Amount calculator
Lesser of price or appraisal
$400,000
DPA at 3.5%
$14,000
2nd-lien term
10-year fixed, repayable
2nd-lien rate
8.500%
Monthly P&I
$174/mo
Illustrative only — not a quote, lock, offer, or commitment to lend. Binding figures appear only on your Loan Estimate and Closing Disclosure.
Eligibility checker
Documentable qualifying income?
Willing to complete homebuyer education before closing?
Property in NY, WA, USVI, Guam, MP, or AS?
Answer each question above to see your preliminary result.
Preliminary self-check only. Not a quote, lock, offer, or commitment to lend. Simply Approved Mortgages is not affiliated with HUD, FHA, VA, USDA, FHFA, or any government agency. Equal Housing Opportunity. NMLS# 2620881.
Keep reading
Related pages on down payment assistance, local markets and the numbers behind each program.
Simply Approved Mortgages In-House DPA
Our own down payment assistance program — up to 5% toward your primary home
Simply Approved Mortgages LLC · NMLS# 2620881
In addition to matching you with agency programs, we offer our own assistance program, provided through our wholesale lender partner and arranged by Simply Approved Mortgages: up to 5% of the lesser of the purchase price or appraised value, structured as a repayable 10-year fixed second mortgage on a qualifying primary residence. It layers with FHA 203(b) or FHA 203(k) purchase first mortgages only, and the second lien is priced at the first-mortgage rate plus 2.00%. It is fully amortizing — not a grant and not forgivable — so your Loan Officer will show a side-by-side comparison before you commit.
Offered through our wholesale lender partner
Up to 5% of the lesser of purchase price or appraised value
Repayable 10-year fixed second mortgage
Layers with FHA 203(b) or FHA 203(k) purchase first mortgages
*Our wholesale lender partner offers this product nationwide, but Simply Approved Mortgages LLC is licensed to arrange residential mortgage loans in Florida and Colorado only, so we can originate it in those two states only. Outside Florida and Colorado this is educational information and you should work with a lender licensed in your state.
How it works
1. Find the assistance you qualify for
Answer ten short questions and our DPA matching tool screens your location, income, price range, credit band and first-time buyer status against every state, county and city program we track.
2. A licensed loan officer reviews it with you
A Simply Approved loan officer confirms which programs your file can actually use, how each one is structured, and what it means for your monthly payment and closing costs.
3. Pair assistance with your first mortgage
Assistance is delivered through an approved first mortgage. We arrange the FHA, conventional, VA or USDA loan underneath it and reserve the assistance funds once you are under contract.
4. Funds arrive at closing
The assistance is wired to the closing agent and applied to your down payment and, where the program permits, closing costs — so your own savings stay where they belong.
Repayment: The second lien is a recorded lien with a monthly payment that is underwritten into your debt-to-income ratio. Layered DPA affects your final rate and mortgage insurance; your Simply Approved Mortgages Loan Officer will disclose the side-by-side comparison before you commit. Program terms, income limits, funding availability and eligibility requirements are subject to change without notice and must be confirmed in writing. Nothing here is an offer of credit, an approval, or a guarantee of eligibility, funding or any particular term. All loans are subject to lender underwriting and approval. Equal Housing Opportunity.
Follow our down payment assistance updates on Google
Add Simply Approved Mortgages as a preferred source in Google Search and our program updates, county limit changes and funding-status notes are more likely to surface when you search. It is a Google setting you control and can remove at any time.
Google is a trademark of Google LLC. Simply Approved Mortgages LLC is not affiliated with, sponsored by or endorsed by Google, and this setting has no effect on loan eligibility, pricing or availability.
Down payment assistance changes fast. Stay ahead of it.
New funding rounds, closed programs, and updated income and price limits for Florida and Colorado buyers — in one short email each month.
Licensing notice: Simply Approved Mortgages LLC arranges residential mortgage loans in Florida and Colorado only. The briefing and this website are educational content — not an offer, solicitation, advertisement of credit terms or commitment to lend, and no mortgage services are offered in states where we are not licensed.
Expert Insight
Assistance rules in Michigan are set by its administering agencies
Every state structures income caps, purchase-price limits and repayment terms differently, and local county or city funds often layer on top. Use this page to research what Michigan agencies publish, then confirm current terms directly with the agency and work with a lender licensed in Michigan to originate.
Takeaway: Confirm current Michigan program terms with the administering agency and a licensed Michigan lender.
Simply Approved Mortgages LLC is not licensed in Michigan, so use this page as research only and work with a lender licensed in Michigan to apply or originate a loan there. If you are buying in Florida or Colorado, a Simply Approved Mortgages Loan Officer can help directly.
Commentary from the Simply Approved Mortgages Team at Simply Approved Mortgages LLC, NMLS #2620881. Verify on NMLS Consumer Access
Not licensed in Michigan
Educational information only — Simply Approved Mortgages LLC is licensed to arrange residential mortgage loans in Florida and Colorado only. We are not licensed in Michigan. Nothing on this page is an offer, solicitation, advertisement of credit terms, quote, pre-approval or commitment to lend in Michigan, and we do not accept applications or loan inquiries for properties in Michigan.Educational information only — Simply Approved Mortgages LLC is licensed to arrange residential mortgage loans in Florida and Colorado only. We are not licensed in Michigan. Nothing on this page is an offer, solicitation, advertisement of credit terms, quote, pre-approval or commitment to lend in Michigan, and we do not accept applications or loan inquiries for properties in Michigan.
