Flagstar Gift Program

Overview

Flagstar gifts your 3% down payment outright, so you can close with little or no cash out of pocket.

Detailed requirements

First-time homebuyer purchasing a primary residence in an eligible Michigan county. Borrower income or property location must be low- to moderate-income per the bank's guidelines. Mortgage originated by Flagstar Bank. Gift covers 3% of the purchase price, up to $7,500, and is not repaid. Confirm current county list and terms with Flagstar.

Eligibility at a glance

First-time buyer required

Yes

Owner-occupied required

Yes

Note: Lender program: the mortgage must be through Flagstar. For low- to moderate-income borrowers or homes in low- to moderate-income areas. Eligible Michigan counties include Wayne, Oakland, Macomb, Washtenaw, Livingston, Monroe, Genesee, Ingham, Kent, Kalamazoo, and others. Stacks with MSHDA down payment assistance.