Down Payment Assistance



Household Eligibility*:

*This only covers the basic requirements. All loans are subject to approval by the Road to Home Program in accordance with the program’s full guidelines.

  1. Households must qualify as a first time homebuyer.
  2. The household must complete Road to Home’s Homebuyers Education Course before entering into a buy/sell agreement.
  3. Household must contribute 1% of purchase price.
  4. Households must be income-eligible; maximum income is determined by geographical area and family size. See below for 2020 income limits. 

Financing Eligibility:

  1. Maximum purchase price of the home is set by MDOC guidelines.
  2. The home must be the household’s primary residence.
  3. Sum of all financing must be less than 105% of the home’s appraised value.
  4. Interest rate on the financing you choose may not exceed the current MBOH rate. The rate must be fixed.
  5. Your front-end ratio must be between 28% and 32%. Back-end ratio may not exceed 42%.

Real Estate Eligibility:

  1. Condos, town-homes, single-family detached homes, and manufactured homes (on permanent foundations) may all be eligible properties.
  2. The home must be either vacant or owner-occupied at the time the buy-sell is executed. Any unit with current tenants, regardless of the terms of their lease, is not eligible.
  3. All homes must have a home inspection.

DPA Application