LMCU’s HomeAssist Down Payment Assistance Program

Homeownership is possible.

Our HomeAssist program provides up to $10,000 in down payment assistance1 to qualifying first-time homebuyers. 

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Buy your first home sooner.

The hardest part about buying a home? Deciding you’re ready.   

HomeAsssist is like a springboard designed to help first-time homebuyers clear that first, biggest hurdle: the down payment. 

Qualifying buyers can receive up to $10,000 in down payment and closing cost assistance.1

The best part? There’s no repayment required! 

Who qualifies for HomeAssist?

While you’ll have to connect with a loan officer to confirm that you qualify, here are the high-level requirements for receiving down payment assistance through HomeAssist. 

Location

You intend to purchase a primary residence in Michigan or Florida. 

 

Income

Your total household income is less than or equal to 120% of the local Area Median Income.  

First home

You are a first-time homebuyer. 

HomeAssist FAQs

HomeAssist operates on a first-come, first-serve basis and is only available while funds last. To see if you qualify, connect with a loan officer today. 

To qualify for HomeAssist, your total household income must be less than or equal to 120% of the local Area Median Income (AMI). Since eligibility is based on local AMI, which varies by county, a loan officer near you can confirm your exact qualification. 

Yes! HomeAssist is a down payment assistance program, not a type of mortgage. This means it can be paired with: 

  • Conventional mortgages 
  • FHA loans 
  • VA loans 
  • USDA Rural Development loans
  • Other applicable first‑time homebuyer programs 

Yes, in addition to HomeAssist, you could also receive up to $10,000 more in down payment assistance through the Michigan State Housing Development Authority (MSHDA).2

Eligible buyers can receive up to $10,000 to use toward their down payment and closing costs.1

No! Qualifying first-time homebuyers can use the down payment assistance they receive without any repayment. 

HomeAssist’s 2025 recap

$4.6M In down payment assistance
405 First-time homebuyers
$12M Committed to HomeAssist's future
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Buying a home? Start here.

Connect with one of our local mortgage experts. They’re ready to answer any homebuying questions you may have with a smile and an extra mile. 

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Disclosures

The LMCU HomeAssist Down Payment Assistance program is available to first-time homebuyers applying through Lake Michigan Credit Union intending to purchase a primary residence in Michigan or Florida. Applicants must have a household income meeting local area median income requirements. Applicants will be assisted on a first-come, first-served basis until funds are exhausted. Additional fees may apply. You may be eligible for $15,000 if the subject property is located in a specified targeted area and meet area median income requirements. Programs subject to change. See your Local Mortgage Loan Officer for details.

Terms and conditions apply. Find out more at www.michigan.gov/MSHDA.