Refer a FriendFirst-Time Home Buyer Programs
Affording your first home may be easier than you think.
It's natural to have a lot of questions when buying a house for the first time: Is my credit good enough to buy a home? What's the best way to afford a down payment? How much are closing costs?
The best place to start is talking to an LMCU mortgage expert about your options. You may qualify for mortgage programs offering down payment assistance, $0 down payment requirements,* and more.
Whether you're ready to buy or are simply curious, it's free to set up a no-obligation consultation.
Get Started:
HomeAssist Down Payment Assistance Program**
LMCU's HomeAssist program provides up to $10,000 in down payment and closing costs assistance to qualifying first-time homebuyers. Learn More
HomePlus Mortgage Loan
With down payment requirements as low as 0%* and no private mortgage insurance requirement, our HomePlus mortgage is an affordable option for eligible Michigan homes. Learn More
MSHDA 10K DPA Loan
First-time Michigan homebuyers can qualify for a zero-interest loan of up to $10,000 to put toward their down payment and closing costs. This loan is considered a 0% second mortgage and doesn't have to be repaid until the primary mortgage ends, the home is no longer a primary residence, or there's a change in ownership. Contact an LMCU loan officer for requirements and to see if you qualify.
What to expect on your homebuying journey
No matter what step of your homebuying journey you're in, our mortgage experts are here to guide you through the process. We can help you get pre-approved for a mortgage to show sellers you're serious, giving you a negotiating edge over other buyers.
Once you find a few homes you're interested in, download our free first-time homebuyer worksheet to compare homes and determine which is the right one for you.
*For well-qualified buyers. The interest on the portion of the loan that exceeds the value of the dwelling is not tax deductible. Please consult your tax advisor. **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 at or below 120% of the local Area Median Income and at least one applicant must identify as Black, African American, Hispanic, and/or Latino. Applicants will be assisted on a first-come, first-served basis until funds are exhausted. Additional fees may apply. Program subject to change.