100% financing
For eligible buyers, a first mortgage can be paired with subordinate down-payment assistance. The assistance may be repayable, and closing costs or prepaid items may remain.
Your first home deserves a clear plan
Start with the payment. Understand every path.
Compare responsible mortgage options for buying your first Michigan home—including eligible 100% financing structures, low-down-payment loans and down-payment assistance.
No program guarantees approval. Eligibility and complete underwriting are required.
More than one route
Financing paths worth comparing
3% down conventional
Eligible first-time buyers may have conventional options with a low down payment. Income limits, mortgage insurance and program requirements vary.
FHA, VA and assistance
Government-backed and assistance programs may create additional paths. Each has distinct eligibility, insurance, property and repayment rules.
Important: “100% financing” does not mean no money will ever be needed. It describes eligible combined loan-to-value financing; appraisal, inspection, closing costs, prepaid taxes and insurance, reserves or other costs may still apply.
A calm path to closing
Five decisions, in the right order
- Set the budgetChoose a comfortable total housing payment.
- Compare programsReview cash, payment, mortgage insurance and future flexibility.
- Get pre-approvedDocument income, assets, credit and obligations.
- Shop with contextRecheck taxes, insurance and association costs for each home.
- Review before closingCompare the final disclosure and ask about every change.
First-home education center
13 guides written for Michigan buyers
The Michigan First-Time Home Buyer Roadmap
A practical sequence from early planning through closing day.
Read guideHow Much Money Do You Need to Buy a Home in Michigan?
Down payment is only one part of cash to close.
Read guideHow 100% Financing Can Work for Eligible Michigan Buyers
Understand the first mortgage, assistance, costs and repayment terms.
Read guideCredit Scores and First-Time Home Buying
What scores influence—and what they do not decide alone.
Read guideMortgage Pre-Approval: What First-Time Buyers Should Expect
Turn a budget estimate into a documented buying plan.
Read guideMichigan Closing Costs for First-Time Buyers
A plain-language guide to lender, title, government and prepaid charges.
Read guideFHA vs. Conventional for a First Home
Neither label is automatically better; compare the complete structure.
Read guideDown-Payment Assistance Explained
Grants, deferred loans and repayable second liens are not the same.
Read guideHome Inspection vs. Appraisal
Two different reviews protect different interests.
Read guideMaking Your First Offer on a Michigan Home
Balance competitiveness with financial and contractual protection.
Read guideBuying a Home With Student Loans
Student debt does not automatically prevent mortgage qualification.
Read guideWhat Happens After Your Offer Is Accepted?
A first-time buyer’s guide to the path from contract to keys.
Read guideUSDA Loans in Michigan: Zero-Down Financing and Property Eligibility
How USDA guaranteed loans work and where to check an address.
Read guideQuestions first-time buyers ask
Plain answers before the application
Who counts as a first-time home buyer?
Many programs use a three-year lookback, but definitions vary. Some options only require one borrower to meet the definition, while others apply different rules. Current program guidelines control.
Does 100% financing cover closing costs?
Not necessarily. A program may cover the down payment through combined financing while closing costs, prepaids or reserves remain. Eligible credits or gifts may help, subject to limits.
Can I compare more than one option?
Yes. Mike can compare eligible structures from multiple wholesale sources and explain payment, cash-to-close, mortgage insurance, assistance terms and tradeoffs.
Build your first-home plan.
Start with your goals—not a one-size-fits-all loan slogan.