What is down payment assistance?

Down payment assistance refers to programs that may help eligible home buyers cover upfront costs such as a down payment or certain closing fees.

How much down payment assistance may be available?

Some programs may offer assistance up to $20,000, depending on eligibility, funding availability, and program guidelines.

Who may qualify for down payment assistance programs?

Eligibility varies by program and may include requirements such as first-time home buyer status, income limits, property location, and completion of homeownership education.

Can down payment assistance help with closing costs?

Yes. Some assistance programs may help reduce or offset certain closing costs, depending on the program terms.

How do I get started?

Contact Mercantile Bank to connect with a Loan Officer who can review available options and guide you through next steps.

Down Payment Assistance | Mercantile Bank

Let's Explore Your Options Together

There are a variety of mortgage programs available to help first-time homebuyers in Michigan. Mercantile Bank can help connect you to options that may assist with a down payment or reduce closing costs. Because programs vary, some with funds available year-round and others offered on a first-come, first-served basis, it’s helpful to explore your options sooner rather than later. Our mortgage team is here to support you so you can move forward with confidence. Connect with us today!

Down Payment Assistance at Mercantile Bank

Do you want more information on Down Payment Assistance Programs?

View our blog post to receive an overview of first-time homebuyer programs, low down payment options, and assistance programs that can help make buying a home more attainable.

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*Please consult a Loan Officer for complete details. All loans are subject to approval. All loan products and programs are subject to additional terms and conditions. Program subject to change. Funding for some programs is based on availability and may require homeownership classes. Income restrictions may apply.

Down Payment Assistance

Let's Explore Your Options Together

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