Your local starting points
Local records, clearer questions
Prepare your property research in Michigan
For a Michigan purchase or refinance, compare the mortgage together with taxes, insurance, association costs and any additional financing. Use the city guides to identify local records and questions that could affect the property description, intended use or ownership budget. Michigan State Housing Development Authority offers purchase-program and education resources. If assistance is part of the financing, ask how it is documented and repaid. For a refinance, bring existing assistance documents and current loan statements so the comparison includes obligations beyond the first mortgage.
Treat down-payment assistance as a loan with conditions
MSHDA describes MI 10K DPA as an interest-free loan combined with its MI Home Loan. Although it has no monthly payments, repayment is deferred until specified events such as sale, refinance or the end of owner occupancy. Ask the approved lender to explain the documents and how those conditions affect your plans.
Use the approved-lender and education routes
MSHDA’s homeownership resources link participating lenders and housing education. Confirm current program and property requirements and which completion documents are needed. This guide does not establish TMP participation, available funding or your eligibility.
Use the research in your loan comparison
Bring the address, unresolved property questions, inspection findings and recurring costs into the discussion. For a purchase, add the price, cash available and contract dates. For a refinance, include current loan statements and any additional financing or assistance. Ask for a comparison that shows costs, new balance and repayment period as well as the monthly payment.
Michigan research and mortgage questions
Can a deferred MSHDA assistance loan be left out of a refinance comparison?
No. Give the lender the assistance documents and current balance and ask how the proposed refinance would affect repayment. Compare the full new financing and cash needed, not just the first-mortgage payment.
What if records disagree with the home I toured?
Keep copies and note the specific discrepancy. Ask the responsible office, your agent or closing professional to clarify it, and tell your advisor if it affects the property description, condition or intended use. Do not assume a missing entry or informal explanation resolves it.