| Lender | LendingTree rating and “best of” category | Lender review |
|---|---|---|
 |  Refinance loans | Read our review |
 | VA loans | Read our review |
 | Jumbo loans | Read our review |
 |  Online mortgage experience | Read our review |
 | FHA loans | Read our review |
 | Home equity loans | Read our review |
 |  Mortgage loan variety | Read our review |
Through the Michigan State Housing Development Authority, first-time homebuyers can qualify for one of three programs to help them purchase their first dream home.
Through the MI Home Loan program, first-time homebuyers may qualify for a mortgage or down payment assistance. Borrowers must complete a homebuyer education class to receive down payment assistance.
Eligible applicants must:
The MI Home Loan Flex program offers first-time homebuyers flexibility because it doesn’t require all adults in the household to apply, nor would they necessarily have to pay off any outstanding collections or judgments to qualify. Borrowers may receive up to $7,500 in down payment assistance.
Eligible applicants must:
With the Mortgage Credit Certificate Program, first-time homebuyers can receive housing assistance in the form of a federal tax credit. If qualified, borrowers can reduce their year-end tax liability by 20% of their annual mortgage interest paid. The credit can be applied every year of the original mortgage loan term.
Eligible applicants must:
Learn more:
→ 12 First time homebuyer programs
→ FHA loan limits in Michigan
