First-Time Homebuyers Questions
Explore questions about preparing for your first home purchase, from saving to closing.
How much do I need for a down payment to buy a house in Michigan?
Quick Answer
Qualified buyers may put as little as 3% down with a conventional loan, 3.5% with FHA, or 0% with eligible VA and USDA loans. Down payment assistance may also help. Investment properties and second homes typically require a larger down payment. You dont need 20% down to buy a primary home in Michigan!
Closing costs are separate from your down payment. Reach out so we can compare your options and estimate how much you’ll need to bring to closing.
Still have a mortgage question?
Every situation is different. If you’re not sure which option fits your situation, tell me what you’re trying to accomplish and I’ll help you understand the next step.