City of Holland Homebuyer Assistance (Down Payment/Closing Cost Assistance)

City of Holland Homebuyer Assistance (Down Payment/Closing Cost Assistance) is a grant for homebuyers in Holland, Michigan, administered by City of Holland Community Development Department. The City of Holland uses HUD CDBG entitlement funds to provide grant-based down payment and closing cost assistance to low- to moderate-income (<=80% AMI) homebuyers. For FY2025-26 the assistance is directed to eligible buyers purchasing an affordable home through Lakeshore Habitat for Humanity, with a goal of 2 households assisted. Historically (FY2013-14 CAPER) the City paid up to 50% of reasonable closing costs or down payment, capped at $3,000 per household. Administered directly by the City of Holland Community Development Department. Grant (no repayment) up to 50% of down payment/closing costs, historically capped at $3,000. For income-eligible buyers within the City of Holland. Funding comes from HUD CDBG entitlement funds (City of Holland is a CDBG entitlement community since 1989).

City of Holland Homebuyer Assistance (Down Payment/Closing Cost Assistance) offers up to $3,000 in assistance. The program can be combined with Designed to assist buyers purchasing through Lakeshore Habitat for Humanity (0% Habitat mortgage). Amounts are the program's published maximums, not an offer — City of Holland Community Development Department determines any individual award.

City of Holland Homebuyer Assistance (Down Payment/Closing Cost Assistance) is structured as a grant, so it is not repaid. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

City of Holland Homebuyer Assistance (Down Payment/Closing Cost Assistance) is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. A homebuyer education course is required, through Community Action House (CAH) Homeownership Education Program. Residency requirement: Assisted home must be located within the City of Holland city limits. LOAN TERM: grant (no repayment, no interest, no lien) per City of Holland 2025-2030 Consolidated Plan / 2025-26 AAP. ACTIVE & FUNDED: 2025-30 ConPlan + 2025-26 AAP budgets the Housing project at CDBG $279,000, target date 6/30/2026, one-year goal 2 households for homeownership assistance. AMOUNT: current per-buyer cap not restated in ConPlan; $3,000/50% figures are from the 2013-14 CAPER and may have changed (assistance_amount_max flagged).

City of Holland Homebuyer Assistance (Down Payment/Closing Cost Assistance) limits household income to 80% of the area median income, which varies by county and household size. Household income at or below 80% of Area Median Income (AMI); CDBG income limit applies to all City of Holland CDBG housing programs. The limit applies to total household income, not only the borrower&rsquo;s. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

City of Holland Homebuyer Assistance (Down Payment/Closing Cost Assistance) can be used for Single Family. New construction is eligible.

City of Holland Homebuyer Assistance (Down Payment/Closing Cost Assistance) serves homebuyers purchasing in Holland, Michigan.

Applications for City of Holland Homebuyer Assistance (Down Payment/Closing Cost Assistance) go through City of Holland Community Development Department, which publishes the current terms and the application steps on its own site. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.