Down Payment Assistance Programs

I hear from many buyers who are looking to purchase a home, but are concerned about coming up with the down payment. Often these buyers have decent credit, but just don’t have the income to save for a down payment! Many lenders and government organizations have recognized this problem and have developed “down payment assistance” programs for buyers. Many of these programs are income based and have stipulations of who qualifies. However some programs are not based on income and sometime provide a “grant” which DOES NOT have to be repaid.

So if you are thinking about buying a home in the near future and would like to take advantage of a down payment assistance program. Check out some of the links below to see what programs are available. If you have any questions reach out to a loan officer with the lending institution or feel free to contact me.

https://www.53.com/content/fifth-third/en/personal-banking/borrowing-basics/down-payment-assistance-resources.html

https://www.huntington.com/Personal/specialty-mortgages/state-bond-down-payment-assistance-programs

https://www.michigan.gov/mshda/0,4641,7-141-45866—,00.html

Click to access Policies%20and%20Procedures%20-%20Homebuyer%20Assistance.pdf