Lender reviews · MSHDA

MSHDA-approved lenders in Michigan

By MML Editorial Team Updated July 16, 2026 4 min read

Not every lender does MSHDA. The state's MI Home Loan and its $10,000 down payment assistance can only be written by lenders on MSHDA's approved lending-partners list, so the first question for a Michigan first-time buyer isn't "who has the lowest rate" — it's "does this lender even offer the program." These 33 do, and we've reviewed each.

We are a publisher, not a lender. This is the subset of our reviewed lenders that appear on MSHDA's lending-partners list — not the state's full roster. No lender pays for placement. How we review.

Before you pick one

Being on the list means a lender can originate MSHDA — not that they're the cheapest or the best fit. Three things to keep in mind:

MSHDA's floor is 640, higher than FHA's 580. A 580–639 buyer can get an FHA loan but not the assistance — see our MSHDA guide for the full requirements.
The $10,000 is a lien, not a gift. It's repaid when you sell, refinance or pay off the first mortgage — a real catch worth understanding before you commit (how the MI 10K DPA works).
Still compare. Get a written Loan Estimate from two or three of these and compare the all-in cost, exactly as you would with any loan.

The 33 MSHDA lenders we've reviewed

Ranked by our editorial score. Each review has the lender's NMLS ID, rates and full write-up.

Lake Michigan Credit Union

MI headquarters MSHDA lender

Best for: Lowest closing costs in West Michigan

Min. credit: 620
Min. down: 0% (Zero-Down program for qualified buyers)
HQ: Grand Rapids, MI
NMLS: #442967

4.5 / 5.0

Fairway Independent Mortgage

MSHDA lender

Best for: Government loans and hands-on loan officers

Min. credit: 600
Min. down: 3%
HQ: Madison, WI
NMLS: #2289

4.3 / 5.0

Flagstar Bank

MI headquarters MSHDA lender

Best for: Branch access and construction lending in Michigan

Min. credit: 620
Min. down: 3%
HQ: Troy, MI
NMLS: #417490

4.2 / 5.0

Rate (Guaranteed Rate)

MSHDA lender

Best for: Fast, tech-driven closings at competitive rates

Min. credit: 620
Min. down: 3%
HQ: Chicago, IL
NMLS: #2611

4.2 / 5.0

Huntington Bank

MSHDA lender

Best for: Branch banking and existing-customer relationships in Michigan

Min. credit: 620
Min. down: 3%
HQ: Columbus, OH
NMLS: #402436

4.1 / 5.0

CrossCountry Mortgage

MSHDA lender

Best for: Flexible programs including non-QM and renovation

Min. credit: 580
Min. down: 3%
HQ: Cleveland, OH
NMLS: #3029

4.1 / 5.0

Mercantile Bank of Michigan

MI headquarters MSHDA lender

Best for: West Michigan community banking and construction loans

Min. credit: 620
Min. down: 3%
HQ: Grand Rapids, MI
NMLS: #571147

4.1 / 5.0

Ross Mortgage Corporation

MI headquarters MSHDA lender

Best for: Metro Detroit buyers who want a 75-year local lender fluent in MSHDA

Min. credit: 620
Min. down: 3%
HQ: Troy, MI
NMLS: #107716

4.1 / 5.0

Independent Bank

MI headquarters MSHDA lender

Best for: Michigan buyers wanting a 150-year community bank with in-house servicing

Min. credit: 620
Min. down: 3%
HQ: Grand Rapids, MI
NMLS: #454790

4.1 / 5.0

Consumers Credit Union

MI headquarters MSHDA lender

Best for: Southwest and West Michigan buyers wanting a full-menu credit union

Min. credit: 620
Min. down: 3%
HQ: Kalamazoo, MI
NMLS: #414712

4.1 / 5.0

Honor Credit Union

MI headquarters MSHDA lender

Best for: Southwest and northern Michigan buyers wanting the widest CU menu

Min. credit: 620
Min. down: 3%
HQ: Berrien Springs, MI
NMLS: #458266

4.1 / 5.0

Towne Mortgage Company

MI headquarters MSHDA lender

Best for: FHA and renovation loans with hands-on processing

Min. credit: 580
Min. down: 3.5% (FHA)
HQ: Troy, MI
NMLS: #3028

4.0 / 5.0

Northpointe Bank

MI headquarters MSHDA lender

Best for: Specialty loans (construction, renovation, manufactured) from a Michigan bank

Min. credit: 600
Min. down: 3%
HQ: Grand Rapids, MI
NMLS: #447490

4.0 / 5.0

Guild Mortgage

MSHDA lender

Best for: First-time and lower-credit buyers wanting hands-on guidance

Min. credit: 600
Min. down: 3%
HQ: San Diego, CA
NMLS: #3274

4.0 / 5.0

Movement Mortgage

MSHDA lender

Best for: Purchase buyers who value fast, upfront-underwritten approvals

Min. credit: 620
Min. down: 3%
HQ: Fort Mill, SC
NMLS: #39179

4.0 / 5.0

New American Funding

MSHDA lender

Best for: Underserved and lower-credit borrowers wanting flexible underwriting

Min. credit: 580
Min. down: 3%
HQ: Tustin, CA
NMLS: #6606

4.0 / 5.0

John Adams Mortgage

MI headquarters MSHDA lender

Best for: Michigan first-time buyers leaning on MSHDA down-payment help

Min. credit: 620
Min. down: 3%
HQ: Southfield, MI
NMLS: #140012

4.0 / 5.0

Gold Star Mortgage Financial

MI headquarters MSHDA lender

Best for: Buyers wanting an Ann Arbor lender that keeps servicing in-house

Min. credit: 620
Min. down: 3%
HQ: Ann Arbor, MI
NMLS: #3446

4.0 / 5.0

Dart Bank

MI headquarters MSHDA lender

Best for: Mid-Michigan and rural buyers using MSHDA or USDA

Min. credit: 620
Min. down: 3%
HQ: Mason, MI
NMLS: #406384

4.0 / 5.0

Mortgage 1

MI headquarters MSHDA lender

Best for: Statewide Michigan buyers wanting MSHDA and Rural Development help

Min. credit: 620
Min. down: 3%
HQ: Sterling Heights, MI
NMLS: #129386

4.0 / 5.0

Success Mortgage Partners

MI headquarters MSHDA lender

Best for: Michigan buyers wanting a direct Fannie Mae lender with DPA

Min. credit: 620
Min. down: 3%
HQ: Plymouth, MI
NMLS: #130562

4.0 / 5.0

loanDepot

MSHDA lender

Best for: A fast digital application with a broad product menu

Min. credit: 620
Min. down: 3%
HQ: Irvine, CA
NMLS: #174457

3.9 / 5.0

Better Mortgage

MSHDA lender

Best for: A fully-online, commission-free experience

Min. credit: 620
Min. down: 3%
HQ: New York, NY
NMLS: #330511

3.9 / 5.0

Fifth Third Bank

MSHDA lender

Best for: Existing bank customers who want branch access and closing-cost discounts

Min. credit: 620
Min. down: 3%
HQ: Cincinnati, OH
NMLS: #403245

3.9 / 5.0

U.S. Bank

MSHDA lender

Best for: Relationship banking customers wanting one lender for the whole file

Min. credit: 620
Min. down: 3%
HQ: Minneapolis, MN
NMLS: #402761

3.9 / 5.0

Old National Bank

MSHDA lender

Best for: Michigan buyers wanting a Midwest bank with down-payment assistance

Min. credit: 620
Min. down: 3%
HQ: Evansville, IN
NMLS: #459308

3.9 / 5.0

Cardinal Financial

MSHDA lender

Best for: Borrowers needing construction, renovation, or specialty loans

Min. credit: 580
Min. down: 3%
HQ: Charlotte, NC
NMLS: #66247

3.9 / 5.0

Union Home Mortgage

MSHDA lender

Best for: Cash-tight first-time buyers wanting a nearby Midwest lender

Min. credit: 620
Min. down: 1%
HQ: Strongsville, OH
NMLS: #2229

3.9 / 5.0

University Bank

MI headquarters MSHDA lender

Best for: Michigan buyers seeking RIBA-free Islamic home financing

Min. credit: 620
Min. down: 3%
HQ: Ann Arbor, MI
NMLS: #715685

3.9 / 5.0

Michigan First Credit Union

MI headquarters MSHDA lender

Best for: Metro Detroit first-time buyers using MSHDA assistance

Min. credit: 620
Min. down: 3%
HQ: Lathrup Village, MI
NMLS: #493687

3.9 / 5.0

Dort Financial Credit Union

MI headquarters MSHDA lender

Best for: Flint-area buyers wanting a large, established local credit union

Min. credit: 620
Min. down: 3%
HQ: Grand Blanc, MI
NMLS: #469349

3.9 / 5.0

Nations Lending

MSHDA lender

Best for: Purchase buyers wanting a nearby Ohio lender with a local branch

Min. credit: 620
Min. down: 3%
HQ: Independence, OH
NMLS: #32416

3.8 / 5.0

Newrez

MSHDA lender

Best for: Buyers needing non-QM or very-low-down-payment options

Min. credit: 620
Min. down: 1%
HQ: Fort Washington, PA
NMLS: #3013

3.7 / 5.0

MSHDA participation reflects the state's MI Home Loan lending-partners list dated June 12, 2026, which changes over time — confirm current status with the lender or MSHDA before you apply. Not sure which loan you even need? Try our which-mortgage decision guide.

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