Down Payment Assistance: How to Stop Renting and Start Owning—Even With No Cash Up Front

Raise your hand if you’re tired of writing rent checks that just pad your landlord’s bank account. (I see you!) The good news? You don’t have to stay stuck there, even if your savings account isn’t exactly bursting. Down payment assistance programs can help you buy a house today—sometimes with zero money out of pocket. Let’s unpack how these work and why they might be a better bet than something like MSHDA.

Here’s the deal: we’ve got programs that cover both your down payment and closing costs. That means you could move into your own place without draining your savings—or even having much to start with. Credit’s a concern? Relax—we’re approving folks with scores as low as 600. Got a co-signer willing to back you up? They’re welcome too. And these options aren’t just for U.S. citizens—they’re available for permanent and non-permanent resident aliens, plus DACA borrowers.

One of the biggest myths out there is that down payment assistance is only for first-time buyers. Not true! There are no income limits here, so whether it’s your first home or your third, you could still qualify. We’ve got two flavors to consider: a forgivable second mortgage or a repayable second. The forgivable version is like free money—it goes away after a set time if you stick to the terms, like living in the home. The repayable second is a small loan—think 3.5-5% of the home’s price—that you pay back alongside your main mortgage. Either way, it’s a fraction of what you’d need without assistance.

Now, you might be wondering about MSHDA (Michigan State Housing Development Authority). It’s a solid program, sure—but it’s not your only option, and frankly, it’s not always the best. MSHDA often comes with stricter income caps and fewer choices, while our programs offer more flexibility on credit, residency status, and repayment terms. Why limit yourself when you could get into a home faster and on better terms?

The real win here isn’t just owning a home—it’s breaking free from renting. Every payment you make builds your equity, not someone else’s. Plus, with assistance covering the upfront costs, you’re keeping cash in your pocket for furniture, repairs, or just life. Ready to ditch the landlord and start building your own wealth? Let’s talk about which program fits your situation.

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