First-Generation Program: A Game-Changer for Michigan Homebuyers

Mortgage 1 is proud to lead the way for Michigan homebuyers. With the exciting new First-Generation Program, eligible buyers can access $25,000 in Down Payment Assistance (DPA) to achieve their homeownership dreams.

What is the First-Generation Program?

The First-Generation Program provides significant financial support to help first-time buyers secure their first home. This program offers $25,000 in Down Payment Assistance, reducing the financial barriers to homeownership. To qualify, buyers must not have owned a home in the last three years, and either their parents or guardians must not have owned a home, or they must have aged out of foster care. The assistance is offered as a zero-interest loan, with repayment deferred until the property is sold, refinanced, or no longer used as a primary residence.

New Purchase Price Limits

Starting March 31, 2025, MSHDA’s purchase price limits will increase to approximately $510,000. This change allows buyers to access a wider range of properties while staying within MSHDA’s program guidelines. This is especially beneficial for multiple-time buyers. More information on that here.

Why Choose Mortgage 1?

Breaking News: MSHDA just announced Mortgage 1 as their Top Lender for 2024, marking 11 years of consecutive leadership! This incredible recognition highlights our dedication to helping Michigan homebuyers achieve their goals. With Mortgage 1, you’re partnering with a trusted leader who ensures smooth and efficient transactions, guiding you every step of the way.

Don’t Wait—Act Now!

The First-Generation Program and new purchase price limits are transformative opportunities for Michigan homebuyers. Contact us today to learn how these programs can help you achieve your homeownership goals. Let’s make 2025 your year to secure a brighter financial future!