MSHDA Increased Max Sales Price — What Does This Mean for You?
Big news for Michigan homebuyers! The Michigan State Housing Development Authority (MSHDA) has officially increased the maximum sales price limit for homes eligible under their popular down payment assistance programs.
So, what does this mean for you? Let’s break it down.
What Is MSHDA?
MSHDA offers financial assistance to homebuyers across Michigan, including down payment help and favorable mortgage terms. It’s an incredible tool for first-time buyers or anyone needing a little extra support to make homeownership a reality.
What Changed?
Until recently, MSHDA programs had a sales price cap that limited the homes eligible for assistance. Now, the maximum sales price has increased, meaning buyers can shop for more homes — including properties in neighborhoods that may have previously been out of reach.
This change reflects the rising home values across Michigan and ensures the program remains competitive and useful for today’s market.
Why This Matters
Here’s how this update can benefit you:
More inventory to choose from. A higher price cap opens the door to more homes that qualify for assistance.
Greater purchasing power. You can now consider homes in areas with better amenities, schools, or shorter commutes.
Continued affordability. With MSHDA’s low-interest loans and down payment help, even a more expensive home can remain within your budget.
Are You Eligible?
To qualify for MSHDA programs, you’ll still need to meet certain requirements, including income limits, credit standards, and completing a homebuyer education course. The new price cap simply means you have more options when it comes time to buy.
Ready to Take Advantage of the New Limit?
If you’ve been on the fence about buying a home, now’s the time to explore your options. At Stark Real Estate, we specialize in helping buyers navigate programs like MSHDA — from finding the right property to connecting you with a trusted lender.
Let’s talk about your homeownership goals. The door just opened a little wider — let’s walk through it together.