Employer-Assisted Housing Fund (EAHF) - Down Payment Assistance Program

Purpose: The Employer-Assisted Housing Fund (EAHF) helps employers invest in housing solutions for Michigan workers by matching employer investments with state grant funds. The Down Payment Assistance (DPA) use of EAHF supports employer-backed programs that help income-eligible employees purchase homes. Eligibility: Applicants must be a land bank, local unit of government, for-profit corporation, or nonprofit; housing development organizations that develop/manage real estate are not eligible to apply directly. Applicants must not be debarred, must pass background checks of key staff, and must demonstrate capacity to administer the program and enforce affordability and purchaser restrictions. Additional conditions include one application per applicant and only one grant per city/village/township during the pilot; LIHTC financing is not allowed. Project eligibility: EAHF can fund DPA programs targeting households at or below 120% AMI. For DPA, assistance to a household may not exceed the lesser of the employer contribution or $50,000, and for-sale assistance carries a 5-year compliance period with a declining recapture of net gain if the home is sold during that period. Application process: Applications are accepted on a first-come, first-served basis. Applicants request a SharePoint folder from MSHDA, upload the completed EAHF Pilot Application, and provide all required documentation (e.g., executive summary or program description, capacity to administer program, verification of employer match, organizational documents, and other items listed in the Required Documentation Checklist). The portal will close once MSHDA has received enough complete applications.