Northern Michigan Mortgage Lender | Kirby and Angie | Arch Mortgage - North

Down Payment Assistance Programs in Michigan

Looking for a way to buy a home with little or no money out of pocket? Our Down Payment Assistance (DPA) loan options are designed to help Michigan homebuyers—especially first-time buyers—bridge the gap and step into homeownership sooner.

✅ FHA Loan with Down Payment Assistance

Our FHA DPA loan offers 3.5% or 5% assistance toward your down payment and/or closing costs. Assistance is available in two forms:

Forgivable DPA – No repayment required after a certain number of years (typically 5–10 years depending on the program).
Repayable DPA – Paid back only when you sell, refinance, or pay off your loan.

Benefits:

Perfect for first-time homebuyers or low-to-moderate income borrowers
Flexible credit score requirements
Can be used with gift funds, seller concessions, and more

📌 You may qualify even if you’ve owned a home before!

👉 Start Your FHA DPA Application

🔥 LIMITED-TIME: 1% Down Conventional with 2% Grant

This exclusive program allows qualified buyers to contribute just 1% of the purchase price while the lender contributes a 2% grant—giving you a full 3% down payment!

Highlights:

Only 1% down required from borrower
No repayment required on the 2% grant
Conventional loan with competitive rates
Great for buyers who exceed FHA income limits or want to avoid mortgage insurance

Eligibility:

Must be a first-time homebuyer or not have owned in the last 3 years
Credit score typically 600+
Income caps may apply depending on location

💥 Check Eligibility for 1% Down Conventional

🛠️ How to Qualify for Down Payment Assistance

To determine which program is best for you, we’ll review:

Credit score
Income and employment
Property location and type
Your long-term goals (move-in ready vs. fixer-upper)

Our team walks you through every step to ensure a smooth pre-approval and quick closing.

🎯 Who Can Benefit from These Programs?

These programs are ideal for:

First-time homebuyers
Recent college grads
Renters ready to stop paying someone else’s mortgage
Buyers with limited savings
Veterans and essential workers

📍 Serving All of Northern Michigan

We proudly serve Traverse City, Cadillac, Lake City, Petoskey, Grayling, Frankfort, Gaylord, Manistee, Charlevoix, and beyond. Our loan options are designed to meet the unique needs of Michigan families and first-time buyers.