There are programs designed to help Michigan homebuyers cover their down payment and closing costs — most structured as second mortgages, some forgivable after a set period, and occasionally true grants when wholesale lenders make them available. We work with multiple DPA options and we'll determine which ones you qualify for based on your specific situation.
Most broker-channel down payment assistance comes in two main forms: repayable second mortgages with a small monthly payment, and forgivable seconds that disappear after a few years if you stay in the home. The right program for you depends on your income, location, credit profile, and how long you plan to stay. That's where we come in.
Most broker-channel DPAs are structured as repayable second mortgages. The assistance amount becomes a second loan with set terms — typically a smaller monthly add to your primary mortgage payment. The trade-off for the help with closing is a slightly higher monthly payment.
Some DPAs are forgivable after a set period — most commonly 5 years. Stay in the home for the full period and the assistance converts to a grant you keep. If you sell or refinance early, you repay a prorated portion. Best for buyers who plan to stay put.
Available DPA programs shift month to month as wholesale lenders update their offerings. Grant-based programs and other variations occasionally come into the broker channel and just as quickly cycle out. We check what's actually available the day we run your file.
DPA programs have specific eligibility rules, income limits, and documentation requirements that trip up inexperienced lenders. We navigate these daily and close these deals consistently.
DPA transactions are more complex than standard purchases. Agents refer their clients to us because we communicate proactively, manage timelines tightly, and close on time — even with the added layers.
Many borrowers qualify for multiple assistance programs simultaneously. We identify every option and combine them to minimize your out-of-pocket costs as much as possible.
There's no one-size-fits-all DPA. We evaluate your income, credit, location, and homebuying goals to determine which specific programs fit your profile — then guide you through every step.
Most DPA programs are designed for first-time buyers (typically meaning you haven't owned a home in the past 3 years), but some programs are available to repeat buyers as well. We'll check your eligibility based on your specific situation.
It depends on the program. Most broker-channel DPAs are repayable second mortgages with a small monthly payment alongside your primary mortgage. Others are forgivable after a set period — commonly 5 years — if you stay in the home. True grants with no repayment do exist in the broker channel but aren't always available. We'll explain exactly how each program available to you works before you commit.
In many cases, yes. DPA programs can often be paired with FHA, VA, USDA, or conventional loans. We'll determine which combination gives you the best overall deal — lowest out-of-pocket and best long-term terms.
Income limits vary by program, location, and family size. Many middle-income families are surprised to learn they qualify. The best way to find out is to contact us — we can check your eligibility in minutes.
Not when handled by an experienced lender. DPA adds some steps, but we manage the eligibility verification, education requirements, and second mortgage documentation in parallel with your primary loan so nothing falls behind.
Program availability, amounts, and eligibility requirements are subject to change. Contact us for current program details specific to your situation.
The information on this page reflects current program guidance from the agencies below. For the most authoritative and up-to-date details, refer directly to these primary sources or speak with our team.
Express Home Loans, LLC (NMLS #2485075) is an independent mortgage broker and is not affiliated with, endorsed by, or acting on behalf of HUD, the VA, the FHA, the CFPB, Fannie Mae, Freddie Mac, MSHDA, or any government agency. Links are provided for reference only. Program terms and availability are subject to change and to lender and agency approval.