Michigan Down Payment Assistance
The American Dream Down Payment Act is a down payment assistance initiative that allows grants to be given to participating jurisdictions to assist low-to-mid-income families and uniformed employees such as, policemen, firemen, sanitation, maintenance workers, and teachers who are employees of the participating state to achieve homeownership.
Grants made available under this initiative may be used only for down payment assistance toward the purchase of single family housing by eligible families. The allocation formula for the grant amounts are done by considering the state of Michigan or the participating jurisdiction's prior year's commitment to assistance to homebuyers, the formula shall consider amounts committed to such purpose under the home investment partnerships program, the community development block grant program, mortgage revenue bonds, and prior year's funding from State and local governments, provided that the data underlying such funding is uniform, verifiable, and accurate by the State and local government, and shall consider other factors that the Secretary determines to be appropriate.
Are you eligable for the Michigan State Down Payment Assistance Program?
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National Down Payment Assistance Resources: |
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Michigan Down Payment Assistance Resources: |
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