Home Mortgage Center

MSHDA Loan Programs


The Michigan State Housing Development Authority (MSHDA) provides financial assistance to homeowners and landlords to create and preserve safe and decent affordable housing. We offer two programs through the MSHDA: PIP loans for home improvements and MCC tax credits for homebuyers.

Property Improvement Plan (PIP)

PIP provides low-interest improvement loans to eligible homeowners and landlords. PIP loans are available for site-built homes, qualified condominiums and manufactured/mobile homes.

  • Homeowners must occupy the property as a permanent year-round residence
  • Landlord rental properties consisting of 11 or fewer units are eligible
  • Loan proceeds shall only be used to finance property improvements which protect and improve the basic livability of the property
  • Program income limits apply
  • Interest rates vary based upon the borrower's gross household income

Mortgage Credit Certificate (MCC)

MCC is a federal tax credit issued in connection with the purchase of a home. This allows homebuyers to credit 20% of the mortgage interest paid annually on federal income taxes.

  • Only applies to homebuyers in designated geographic areas 
  • Homebuyers purchase a federal income tax "credit" certificate
  • The tax credit is good for the life of the original mortgage
  • The home must remain as the borrower’s principal residence