Make homeownership possible with Down Payment Assistance

Check Down Payment Assistance Programs in Michigan

Complete the short questionnaire above to determine if you are eligible for a down payment assistance program. A loan professional at Diamond Residential Mortgage Corporation will review the information you submit and guide you to the best loan solution.

Top Down Payment Assistance Programs in Michigan

After you select the best option for you, fill out our questionnaire, and let our loan professionals guide you through the process from start to finish.

Since we are an Approved-Lender with the Michigan Housing and Development Authority(MSHDA), we are able to offer the following down payment assistance programs throughout the state of Michigan:

MSHDA MI Home Loan

The MI Home Loan combined with the MI DPA Loan or the MI 10K DPA Loan (learn more about these two programs below) is designed to make it a little easier for qualified homebuyers.

  • MI DPA Loan available up to $7,500
  • MI 10K DPA Loan up to $10,000
  • Maximum home purchase price $224, 500
  • Available to first-time homebuyers statewide and to repeat homebuyers in targeted areas
  • Fixed-rate, 30-year terms
  • Loan types: FHA, VA, Rural Development Guaranteed, and Conventional 97%.

Eligibility criteria

  • Minimum FICO score of 640 (660 for manufactured homes)
  • Eligible properties include: principal residence, single family unity, condominium, multiple section manufactured home (built after 6.14.1976)
  • Maximum acreage: 2 acres (exceptions up to 5 may apply): 1 buildable lot
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MI Home DPA Loan - $7,500

  • Down payment assistance up to $7,500
  • Must be combined with a MSHDA MI Home Loan
  • 0% interest second mortgage
  • No monthly payments
  • A Homebuyer Education certificate of completion is required for all homebuyers
  • The MI DPA Loan is due when the house is sold, refinanced, the first mortgage is paid in full or homeownership interest is transferred.
Start Questionnaire

MI 10K DPA Loan

  • Available in 236 zip codes in designated areas throughout the state
  • Down payment assistance up to $10,000
  • Must be combined with a MSHDA MI Home Loan
  • 0% interest second mortgage
  • No monthly payments
  • A Homebuyer Education certificate of completion is required for all homebuyers.
Start Questionnaire

In addition to the statewide programs listed above, we may have additional city and county programs available. Please complete the form above so a loan professional can help guide you to the best available option.