LANSING, Mich. – June is National Homeownership Month, and the Michigan State Housing Development Authority (MSHDA) is marking the occasion with major momentum — announcing back-to-back record-breaking months for its single-family mortgage and down payment assistance programs.
“These record months are a reflection of our unwavering commitment to help more Michigan families achieve the dream of homeownership,” said Amy Hovey, CEO and Executive Director of MSHDA. “Innovative programs like the First-Generation Down Payment Assistance and the Rate Relief Mortgage pilots have opened new doors for first-time buyers across the state. Behind every one of these mortgages is a household that’s putting down roots, building equity, and beginning a new chapter filled with opportunity. We’re proud to support them every step of the way.”
In April alone, MSHDA Homeownership programs, logged 748 reservations, totaling more than $107,300,000 in mortgages and down payment assistance, setting an all-time record.
May exceeded those marks with 998 reservations and $174,605,914 million in mortgages and down payment assistance, making it the new highest-volume homeownership production month in MSHDA’s 59-year history.
“Our team has been focused on making homeownership more accessible and achievable,” said Tonya Coon, Director of Homeownership at MSHDA. “It’s exciting to see that work translate into real results for Michigan residents. The demand is strong, and we’re working hard to meet families where they are with the tools and resources they need to become homeowners.”
MSHDA’s MI Home Loan and MI 10K DPA products are available year-round to qualified first-time homebuyers in all 83 counties. In the past six months, MSHDA has also launched the $50 million Rate Relief Mortgage Program and the $8 million First-Generation Down Payment Assistance program, both of which were fully exhausted quickly, underscoring the appetite of prospective homebuyers across Michigan.
To learn more about homeownership through MSHDA, visit Michigan.gov/homeownership.
