Are you a Michigan First Time Home Buyer? We Found Help!

(Last Updated On: November 18, 2018)

It might seem difficult to buy a home especially when you regularly struggle with your bills, but it can be possible! If you want to be a Michigan first time home buyer even if you have low income, you could get help! We found so many ways to get help with down payments, mortgage rates and so much more!

Get more help buying a house with low income here!

Down payment assistance programs are available!

The MSHDA housing down payment assistance might help you with up to $7,500 toward your down payment if you’re a Michigan first time home buyer. You will need to meet certain requirements to get approved for this down payment assistance program. Funding might not always be available for the down payment assistance program so it’s important to apply as early as possible.

The USDA 100% financing mortgage might help you avoid huge down payment costs. With the 100% mortgage, you can roll even your down payment into the loan. Since it’s backed by the USDA, it comes with a guarantee. You may be required to have different homeowners insurance as well as other things for the loan. The area you purchase a home in must be deemed rural by the USDA to get this loan.

We found programs for if you’re a Michigan first time home buyer.

The Michigan State Housing Development Authority might be able to help if you’re a Michigan first time home buyer. They offer a variety of resources for buyers including information on socially conscious lending and other options. They might also be able to help you find the best lending options as well as provide housing choice vouchers. You can even get homeownership and credit counseling from the agency if you qualify!

Even though most areas in Michigan require you to be on the waitlist for Habitat for Humanity, you might be able to get help with a home from Habitat. You will need to pay a mortgage once the house is built, but you’ll have to put sweat equity into the home when you’re first getting started. You must meet income and other requirements just to get on the list for the Habitat for Humanity.

The USDA might be able to help you with a home loan or with other options. You’ll need to apply for the mortgage. It may require you to meet certain income requirements as well as credit requirements. As long as you’re a Michigan first time home buyer in an area deemed rural by the USDA, you could qualify for help.

The FHA loan could help you as a Michigan first time home buyer. You’ll need to apply for and get approved for the loan, but it might make buying a house so much easier. The FHA comes with lower credit requirements and may have a lower than traditional down payment requirement. Most lenders in Michigan offer programs that work specifically with buyers who want an FHA loan.

We found programs for veterans & military.

If you’re a veteran or in the military, you might be able to get a VA-backed home loan. These loans are among the best options because they come with low interest rates, easier credit requirements and might even come with lower payments. You will need to still meet certain requirements for the VA-backed loan. Banks may be more willing to give you financing if they know it’s a loan backed by the VA.

Counties could help if you’re a Michigan first time home buyer.

If you’re a Michigan first time home buyer, you might be able to get help through your county! Many counties in Michigan provide help to people who are first time home buyers to make it easier for the neighborhoods to have improvements!

Genesee County

Residents of Flint might be able to get help through the Metro Community organization. The organization provides help for people who are buying a home in Michigan for the first time and are low-income. They could help you learn more about the home buying process, the important things you need to know about homeownership and so much more. If you’re in Flint, you could get help from this organization!

Kent County

If you’re in Grand Rapids, you might be able to get assistance from the homebuyer assistance fund. This program could help if you’re a Michigan first time home buyer looking for help with down payments, closing costs and money to purchase your home with. There are a variety of ways the fund could help you, but you’ll need to meet their requirements for each of these options. The fund is based on donations and might not always be available.

Macomb County

Are you a Michigan first time home buyer in Warren? You could get help from the housing department. The City of Warren offers help to those who are in need and qualify for their program. They might be able to help you with down payment assistance, closing costs and so much more. Their homebuyer program works in combination with community beautification efforts which means they might also be able to help you figure out how to roll a home update into your home purchase!

michigan first time home buyer

Midland County

People hoping to buy a home in Midland might be able to get help! You could get help through the housing department. They provide information on fair housing and other programs that might be able to help you. If you’re a michigan first time home buyer, you could even get help from the housing assistance center in Midland. You will need to meet their income requirements and their other guidelines for purchasing a home in the city to get help from them.

Wayne County

Wayne County has many cities that have something to offer. These cities may vary and may offer resources that other cities in Wayne County don’t! Since there are so many resources, we’ve broken it down by city to help you find the right resources for your location!

Core City

If you’re in Core City, you could get help through the Core City Neighborhoods, Inc. organization. The national organization provides help and information for first-time home buyers. You might be able to find the right options for your family if you want to make sure you’ve got the best chance for a home! Not only can the organization teach you more about homeownership but they might also be able to give you resources to make homeownership a possibility!

Detroit

The Southwest Housing Solutions organization provides neighborhood revitalization to those who need it in Detroit. You might be able to get help with a future home purchase through the organizations. Not only do they work with people who are already homeowners to revitalize neighborhoods but they might also be able to work with a Michigan first time home buyer to make it easier to find a home.

The Motor City Blight Busters could help you find a home. Even though their main goal is providing the resources to remove blights throughout the city, they do some efforts that could beautify these run-down areas. Check with them if you’re in dire need of housing.

New Hope Community Development might be able to help you with your homeownership goals. You’ll need to find the right solutions to make homeownership a possibility and they can help you with that. In addition to credit and homeowner counseling, they might be able to connect you with low-income financing resources.

Grandmont Rosedale

Are you looking for a home in Grandmont or Rosedale? The community development agency in these areas could help you find a home. They might be able to make it easier for you to find a home when you’re in need of housing or if you’re a senior or disabled. The organization works primarily with people who are in desperate situations but they might also be able to help people who are low-income and trying to purchase a home.

Lincoln Park

The Community Development Block Grant for planning in Lincoln Park could help you purchase a home. They offer a variety of resources to beautify the neighborhood and make it easier for you to find a home you can afford. The planning and development department may also be able to provide you with a grant that could help you cover a down payment or closing costs.

Wyandotte

If you’re a Michigan first time home buyer in Wyandotte, you could get help! There is a CDBG available for low-income people who want to purchase a home. Funding may not always be available and it’s a good idea to find out about the grant as soon as you know you want to purchase a home in the area. You could get a grant to help with closing costs and other fees associated with purchasing a home either in downtown Wyandotte or outside of town.

Serious about buying a house? Don’t miss these other resources!

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