What the assistance does
Assistance is generally structured to help cover the down payment and some closing costs, reducing the cash you bring to closing. Terms, amounts and repayment conditions depend on the specific program in effect when you apply.
Who tends to qualify
Programs usually set household income limits and maximum purchase prices by area, require a minimum credit score, and require completion of a home buyer education course.
Many Downriver price points fall within typical purchase price caps, which is part of why these programs are used here so often.
Important caveats
Funding is limited and program rules change without much notice. Nothing on this page should be read as a guarantee of eligibility or availability.
We confirm the current program terms directly when you apply, and we tell you honestly if the numbers do not work.
This article is general educational information, not financial, legal or tax advice, and it is not a commitment to lend. Program guidelines and availability change. Talk to a licensed loan officer about your specific situation.