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DC Holdings & Investments, LLC

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MSHDA Down Payment Assistance
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With low mortgage rates and many houses to choose from, there's never been a better time. The Michigan State Housing Development Authority helps first-time homebuyers in lots of ways: Special loans and programs to make your mortgage affordable. Down payment help up to $7,500. Partnerships with banks, credit unions and mortgage companies near you, so you can work with people you trust. Friendly homeownership counselors who will give you straight answers to your home-buying questions.
 
Click Here to Download the MSHDA Prgm Detailed package 
 

Single Family Down Payment Assistance

  • $7,500 in down payment assistance; includes borrower paid closing costs and pre-paid expenses
  • 0% interest rate, non-amortizing 2nd mortgage which is due    on sale or at the change in disposition of the MSHDA 1st mortgage
  • Borrower's minimum investment is 1% of the sales price
  • Available in conjunction with MSHDA's 1st Conventional, FHA, or USDA Rural Development mortgages

 

 

 

HomeChoice DPA:

  • $12,000 in down payment assistance; includes borrower paid closing costs and pre-paid expenses
  • 0% interest rate, non-amortizing 2nd mortgage which is due on sale or at the change in disposition of the non-MSHDA 1st mortgage
  • Borrower's minimum investment is $500
  • Available in conjunction with an approved MSHDA Lender's 1st FNMA Conventional mortgage or FHA 203(b) mortgage, and USDA Rural Development's 502 Direct Loan
  • Borrower or a family member residing in the household must have a permanent disability