See programs you qualify for
Get Matched Free →By Tyler Thompson · Licensed Real Estate Agent · Updated April 10, 2026
Homebuyer Programs in Saginaw, MI (2026)
Saginaw is a city in Saginaw County, Michigan, with a population of about 43,000 and a median home price around $115,000, making it one of the most affordable markets in the state. While Saginaw does not currently offer a city-funded down payment assistance program, buyers can take advantage of strong state-level programs from MSHDA. The HomeBoost program provides up to $15,000 as a grant, and the MI 10K DPA Loan offers up to $10,000 as a zero-interest loan. Saginaw-Shiawassee Habitat for Humanity also serves local buyers with affordable homeownership opportunities. With Saginaw's low home prices and available state assistance, many buyers can achieve homeownership with minimal out-of-pocket costs.
State Programs in Michigan
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| HomeBoost Down Payment Assistance | Grant | Up to $15,000 (up to $25,000 through some participating lenders) | Yes | View → |
| MSHDA First-Generation Down Payment Assistance | Deferred Loan | Up to $25,000 | Yes | View → |
| MSHDA MI 10K DPA Loan | Zero-Interest Loan | Up to $10,000 | Yes | View → |
- Type:
- Grant
- Amount:
- Up to $15,000 (up to $25,000 through some participating lenders)
- First-time only:
- Yes
- Type:
- Deferred Loan
- Amount:
- Up to $25,000
- First-time only:
- Yes
- Type:
- Zero-Interest Loan
- Amount:
- Up to $10,000
- First-time only:
- Yes
Federal Programs
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| FHA Loans | Government-Insured Mortgage | Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026) | No | View → |
| Good Neighbor Next Door (HUD) | Government Property Sale Program | 50% discount off the list price of HUD-owned homes | Yes | View → |
| Home Possible Mortgage (Freddie Mac) | Government-Guaranteed Mortgage | Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment | No | View → |
| HomeReady Mortgage (Fannie Mae) | Government-Guaranteed Mortgage | Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment | No | View → |
| HUD $100 Down Program | FHA-Financed HUD REO Purchase | Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs. | No | View → |
| USDA Rural Development Loans | Government-Guaranteed Mortgage | 100% financing (no down payment required); loan amount up to appraised value | No | View → |
| VA Loans | Government-Guaranteed Mortgage | No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026) | No | View → |
- Type:
- Government-Insured Mortgage
- Amount:
- Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026)
- First-time only:
- No
- Type:
- Government Property Sale Program
- Amount:
- 50% discount off the list price of HUD-owned homes
- First-time only:
- Yes
- Type:
- Government-Guaranteed Mortgage
- Amount:
- Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
- First-time only:
- No
- Type:
- FHA-Financed HUD REO Purchase
- Amount:
- Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs.
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- 100% financing (no down payment required); loan amount up to appraised value
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026)
- First-time only:
- No
Nonprofit Programs
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| Saginaw-Shiawassee Habitat for Humanity Homeownership Program | Repayable Loan | Affordable below-market mortgage | Yes | View → |
- Type:
- Repayable Loan
- Amount:
- Affordable below-market mortgage
- First-time only:
- Yes
How to Apply
Step 1: Check your eligibility. MSHDA programs require household income within published limits that vary by family size and county. Credit scores of 640 or higher are typically required.
Step 2: Complete homebuyer education. Saginaw County Community Action Corporation offers a Steps to Financial Fitness program including homebuyer education classes. Contact them for enrollment details.
Step 3: Contact a local housing partner. Reach out to Saginaw-Shiawassee Habitat for Humanity at (989) 753-5200 or the Saginaw County Community Action Corporation for guidance on programs and next steps.
Step 4: Get pre-approved for a mortgage. Find an MSHDA-approved lender at the MSHDA website. Financial Plus Credit Union also offers MSHDA loans with a $1,500 closing cost credit for qualifying borrowers.
Step 5: Find a home within program limits. MSHDA programs have specific purchase price limits. Ensure the property meets program requirements.
Step 6: Submit your application. Apply for MSHDA assistance through your approved lender during the mortgage process. Allow several weeks for processing and approval.
Frequently Asked Questions
How much down payment assistance can I get in Saginaw?+−
Do I have to be a first-time homebuyer?+−
What is the maximum home price I can pay?+−
What homebuyer education is required?+−
Are there programs for Saginaw's affordable housing market?+−
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