Q: What is MSHDA?
A: MSHDA stands for the Michigan State Housing Development Authority, which was established in 1966 in an effort to provide assistance to create affordable housing.

Q: What is the required down payment when using the MSHDA program?
A: When using the MSHDA program, you can purchase a home with as little as 1% down.

Q: Is the MSHDA down payment assistance only for first time buyers?
A: The program varies from county to county, and in some cases from city to city. For example, in Washtenaw county you do NOT need to be a first time buyer. However, in SOME cities in Wayne county you do have to be a first time buyer. Download the MSHDA brochure to see the breakdown of cities.

Q: What is a first time buyer?
A: A first time buyer is a buyer who has not owned a home in the past 36 months.

Q: Is the MSHDA program only for low income households?
A: NO. The MSHDA program has increased income limits. For example, a home buyer in Washtenaw county can have household income that exceeds $100,000. Complete the Do I Qualify form to see if you qualify.

Q: Why should I consider using Visible Homes?
A: MSHDA home buyers are at advantage when choosing Visible Homes. The Broker of Visible Homes has 10 years lending experience and was a top producing MSHDA Loan Officer. From a real estate perspective, we understand which homes will qualify for the program (price, quality, etc.) and we understand how to structure the contract so the buyer only has to come up with a total of 1% down! Simply put, we help buyers get the most out of this amazing program.

Q: How come my Lender never mentioned this program?
A: Many mortgage companies are not approved by the state of MI to offer this program. Even some companies who are approved have Loan Officers who are not trained on the program.

Q: What's the first step?
A: Either complete the "Do I Qualify" form to see if you qualify or contact us at 734.864.4044.