MI 10K DPA Loan: down payment help, plainly
MI 10K DPA Loan from MSHDA provides $10,000 toward a home purchase, repaid in full when you sell or refinance. Referred out — we do not originate this.
The facts
| Structure | Deferred loan — repaid in full when you sell, transfer or refinance |
| Amount | $10,000 |
| Minimum credit | 640 |
| Income cap | See unconfirmed items below |
| Purchase price cap | $566,355 |
| Loan cap | None |
| Geography | Statewide |
| First-time buyer required | Not published — verify |
| Homebuyer education | Required |
| Loan products | MSHDA MI Home Loan |
Who this is for
- Paired with a MSHDA MI Home Loan
What to watch
- 0% and no monthly payment — but repaid in full out of proceeds at sale.
- Must pair with MI Home Loan, NOT MI Home Loan Flex.
- We do not originate MSHDA — refer out.
- Per-county income limit table
- First-time buyer requirement and targeted-area exceptions
Source: MSHDA's published program page · last verified 2026-08-05. Program terms change without notice; confirm current terms before writing an offer around them.
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Common questions
How much does MI 10K DPA Loan provide?
$10,000 — a maximum, not a quote; the exact figure depends on your price, loan and profile. Structure: deferred loan — repaid in full when you sell, transfer or refinance.
Do I have to repay MI 10K DPA Loan?
Yes — in full, triggered by sale, transfer, refinance or payoff. It costs nothing monthly, but it comes out of your proceeds — a deferred loan is different money from a grant.
Who qualifies for MI 10K DPA Loan?
Paired with a MSHDA MI Home Loan. Minimum credit 640.