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Get Matched Free →Bank of Ann Arbor Housing Assistance Program
Funding status: Active
How much assistance
Up to $3,000 grant plus up to $7,500 zero-interest loan via MSHDA
The $7,500 MSHDA loan is zero-interest with no monthly payments, due upon sale, refinance, or payoff of the first mortgage.
Eligibility
- Income limits: Must not exceed MSHDA income limits for the area.
- First-time buyer required: Yes — First-time homebuyer required; repeat buyers eligible in MSHDA targeted areas.
- Geographic restrictions: Must purchase a primary residence in Bank of Ann Arbor lending area.
- Homebuyer education required: Yes
How to Apply for Bank of Ann Arbor Housing Assistance Program
Complete a MSHDA-approved homebuyer education course. Apply through Bank of Ann Arbor for the MI Home Loan Program. The bank provides an additional grant of up to $3,000 toward allowable closing costs and prepaid expenses on top of MSHDA DPA.
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