From Renting to Homeownership in Lansing: How Holly Used a MSHDA Loan to Build Long-Term Wealth

Renting often feels like the safest option—especially if you’ve been told buying a home is out of reach. But for many renters in Michigan, that belief simply isn’t true. With programs like MSHDA down payment assistance, homeownership can be more affordable than renting while offering long-term financial benefits. Holly’s story is a perfect example of how the right strategy, guidance, and financing can turn a renter into a homeowner—and transform monthly housing costs into lasting wealth.

From Renting to Roots: How Holly Turned “I Can’t” Into Homeownership in Lansing

When Holly first reached out to me, she had one clear goal: find a rental home in Lansing for around $1,000 a month.

She’s a hardworking mom of four boys and needed more space—more bedrooms, more breathing room, and a place that truly felt like home. Like many buyers I meet, she assumed renting was her only option. When I asked if she had ever considered buying, her answer was immediate:

“I don’t think I would qualify for a mortgage.”

That belief is far more common than it should be—and it often costs people years of missed financial opportunity.

A Simple Question That Changed Everything

Instead of jumping straight into rental listings, we paused and talked strategy. Renting at $1000 per month would have meant:

• No equity

• No appreciation

• No long-term return

• Continued exposure to rent increases

In contrast, homeownership allows monthly payments to work for you, not just a landlord. Each payment builds equity, contributes to long-term wealth, and locks in housing costs instead of chasing rising rents.

That’s when I introduced Holly to the MSHDA loan program, which is designed specifically to help first-time and moderate-income buyers with down payment assistance and affordable monthly payments.

Audrey Schultz MSHDA Flyer

Turning a Renter Into a Homeowner with a MSHDA Loan

I connected Holly with one of my trusted lending partners, Brandon Adler at CrossCountry Mortgage, and within a short time, everything changed. After reviewing her income, credit, and overall financial picture, she was preapproved to buy a home—something she never thought would happen.

With her preapproval in hand, we shifted gears from renting to buying. Together, we found a home that checked all the boxes:

• Enough space for her and her four boys

• A stable neighborhood close to school and work

• A payment that fit comfortably within her budget

The results were life-changing:

• Monthly mortgage payment: approximately $950/month

• Down payment assistance: covered the majority of upfront costs

• Out-of-pocket expense: about $2,000 total

That $2,000 was nearly identical to what she would have paid for first month’s rent and a security deposit—except instead of handing it to a landlord, she used it to secure a home of her own.

Ownership vs. Renting: The Long-Term Financial Difference

The financial difference between renting and owning goes far beyond the monthly payment.

By purchasing instead of renting, Holly gained:

• An appreciating asset instead of a recurring expense

• Equity growth with every payment

• Protection from rising rents

• The ability to refinance, borrow against equity, or sell later

• Long-term housing stability for her family

While rent checks disappear forever, mortgage payments build net worth. Over time, appreciation and principal paydown can translate into tens—or even hundreds—of thousands of dollars in long-term financial gains.

For Holly, buying wasn’t just about having more space—it was about creating financial security for herself and her children.

A Bigger Home, a Smaller Payment, and a Stronger Future

Today, Holly owns a home in Lansing with more room for her four boys to live, play, and grow. Her monthly payment is hundreds of dollars less than renting, and instead of worrying about lease renewals or rent hikes, she’s building stability and wealth.

The Takeaway: Don’t Rule Yourself Out of Homeownership

Holly’s story is a powerful reminder that many renters are far closer to buying a home than they realize. Programs like MSHDA exist specifically to bridge the gap—but they only help if you know about them.

If you’re renting in Michigan because you think you can’t buy, it may be time to look at the numbers more closely. In many cases, buying costs the same—or less—than renting, while setting you up for long-term financial growth instead of monthly expenses with no return. 

If you’d like to explore whether homeownership makes sense for you, I’m always happy to have a no-pressure conversation focused on strategy, education, and your future—not sales. Let Holly’s story be your reminder: You don’t have to decide alone—and you might be closer than you think.