Stop renting. If you haven't owned a home in 3 years, you could buy your next home in Wayne County with just $1,000 out of pocket.
Through our partnership with National Faith Homebuyers, we help you access down payment assistance that removes the biggest barrier to homeownership: the upfront cost.
Fixed Loan Amount
Covers down payment and closing costs for existing homes
No Interest Charged
You never pay interest on this loan
After 5 Years
Stay in your home for 5 years and never repay it
Your Contribution
All you need to bring to closing
You must meet all of the following requirements to qualify for this program:
You must not have owned any residential property at the time of application and may not have owned a home within the last 3 years.
Your household income must meet MSHDA income limit guidelines based on your family size. These limits vary by city and are updated annually.
You must attend and complete a mandatory homebuyer education class through National Faith Homebuyers before closing.
The home you purchase must be located in one of the participating Wayne County cities with available budget:
The home must pass federal Housing Quality Standards (HQS) inspection. The property must meet city building codes with no cracked or peeling paint or fragmented asbestos.
Your monthly mortgage payment may not exceed 31% of your household's gross monthly income. Your lender must also allow secondary financing.
Program availability and budgets are subject to change. Cities with available funding change based on budget availability. Apply early to secure your assistance!
Fill out the form below and Mortgage Mike will contact you within 24 hours to discuss your options.
We've received your eligibility request. Mortgage Mike will contact you within 24 hours to discuss your DPA options.
Need immediate assistance? Call Mortgage Mike now!
Mortgage Mike can help you navigate the down payment assistance process and get you qualified.