Michigan's $10,000 Down Payment Help: How Fenton-Area Buyers Can Use It

The number one thing that stops people from buying their first home isn't the monthly payment. It's the cash they need up front.

So let's talk about the program that can help with exactly that.

What is the MI 10K DPA?

The MI 10K Down Payment Assistance program comes from MSHDA (the Michigan State Housing Development Authority). It provides up to $10,000 toward your down payment, closing costs and prepaid expenses. It's available statewide, so it works for homes in Fenton, Linden, Holly, Grand Blanc and everywhere around them.

It isn't a grant. It's a 0% interest loan with no monthly payment. You pay it back when you sell, refinance or pay off the home.

The basics

Every buyer's situation is different, and the lender has the final word. In general, here's what MSHDA lists:

• It has to be paired with a MSHDA MI Home Loan.
• MI Home Loans are for first-time buyers (no home ownership in the past three years) statewide, and for repeat buyers in certain targeted areas.
• Household income limits apply, and they depend on your family size and where the home is.
• There's a sales price limit and a minimum credit score (640 at last check).
• You'll take a homebuyer education class.

Program details change, so always check the current rules with a MSHDA-participating lender.

How it plays out when you're making offers

Down payment help doesn't make you a weaker buyer. You just have to plan for it:

• Get pre-approved with a MSHDA lender first, so you know your real budget and timeline.
• Take the education class early. Don't wait until you're under contract.
• Structure the offer so the seller sees a solid buyer, not a question mark. That's my job, and it's what the Built to Win Promise is about.

Get the full buyer's guide

My Fenton-Area Home Buyer's Guide covers the whole process from start to finish, the programs that can cover up to $10,000 of your down payment, and what closing really costs.

👉 Get the free buyer's guide

Want to know if you qualify? I work with Inkka Theodoroes at Dynagen Lending (NMLS# 2649094), and she can walk you through it. Or book a quick call with me and we'll map out your next steps.

— Chance Crozier, REALTOR® · eXp Realty · Fenton, MI
This post is general information, not a loan approval or financial advice. Program terms are set by MSHDA and can change.