2025 MSHDA Income and Sales Price Limits

Important Update: 2025 MSHDA Income and Sales Price Limits – Effective May 1st!

Michigan homebuyers, take note! The Michigan State Housing Development Authority (MSHDA) has announced the 2025 MSHDA income and sales price limits for its MI Home Loan and Mortgage Credit Certificate (MCC) programs. These new limits, effective for new registrations as of May 1, 2025, are crucial for determining eligibility for MSHDA’s programs.   This down payment assistance programs helps home buyers with up to $10,000 in down payment assistance funds.

Key Changes for 2025:

• New Income Limits: The 2025 income limits are now available here. Be sure to check these new charts carefully, as some income limits may have decreased from the previous year.
• Sales Price Limit: The 2025 sales price limit for MSHDA loans has been set at $544,233. Increased from $224,500!!  This limit applies to all 83 counties in Michigan and is based on 90% of the IRS Safe Harbor Limit for Mortgage Revenue Bonds (MRBs).

Eligibility Requirements:

Remember, to qualify for MSHDA programs, borrowers must meet both the income and sales price limits.   What that means is the income is going to cap the price, not the sales price limit which was often the cap in prior years.

What does this mean for you?

The sales price limit change is a major change for home buyers in Michigan.  Home prices have increased significantly over the last 5 years.  To the point where many people simply couldn’t find a home under $224,500.  With the increase to $544,233 this is no longer an issue.  Home buyers purchasing say a 350k home can now take advantage of this amazing down payment assistance program.

These changes are important to ensure access to affordable homeownership opportunities for Michigan residents. Stay informed and don’t hesitate to reach out with any questions.

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