City of Lincoln Park Down Payment Assistance for First-Time Homebuyers

What is City of Lincoln Park Down Payment Assistance for First-Time Homebuyers?

City of Lincoln Park Down Payment Assistance for First-Time Homebuyers is a forgivable loan for homebuyers in Lincoln Park, Michigan, administered by National Faith Homebuyers (on behalf of the City of Lincoln Park).

• The City of Lincoln Park's Down Payment Assistance program provides eligible first-time homebuyers up to $14,999 toward their down payment or approved closing costs to purchase a single-family home or condo within Lincoln Park city limits. Assistance is structured as a forgivable second mortgage that is forgiven after the buyer occupies the home as their principal residence for five years. The program is administered by National Faith Homebuyers and is funded on a first-come, first-served basis. Households must earn at or below 80% of area median income and may not hold more than $20,000 in liquid assets.
• Up to $14,999 toward down payment or closing costs.
• Forgivable after 5 years of owner occupancy.
• 0% interest.
• No monthly payments.
• This is a federal program, so it is available beyond a single state or city.
• Funding comes from Federal HOME/CDBG funds via the City of Lincoln Park (Unconfirmed: exact federal source not specified on official page). Program-year DPA budget reported as $100,000 (National Faith DPA budget tracker, last updated 2026-05-20).

How much assistance does it provide?

City of Lincoln Park Down Payment Assistance for First-Time Homebuyers offers up to $14,999 in assistance.

• Buyer contribution: Not published on official program page (asset limit: buyer cannot hold more than $20,000 in liquid assets).
• Amounts are the program's published maximums, not an offer — National Faith Homebuyers (on behalf of the City of Lincoln Park) determines any individual award.

Do you have to pay it back?

City of Lincoln Park Down Payment Assistance for First-Time Homebuyers is forgiven after 5 years, so a buyer who stays that long does not repay it.

• Repayment is triggered by Second mortgage is forgiven after 5 years of owner occupancy as principal residence; if the home ceases to be the principal residence before 5 years, repayment may be triggered (Unconfirmed: exact pro-rata vs. full repayment schedule not published on official page).
• The assistance is recorded in Second mortgage (subordinate) position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

City of Lincoln Park Down Payment Assistance for First-Time Homebuyers is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

City of Lincoln Park Down Payment Assistance for First-Time Homebuyers limits household income to 80% of the area median income, which varies by county and household size.

• Household income must be at or below 80% AMI. 2026 income limits by household size: 1 person $58,700; 2 person $67,100; 3 person $75,500; 4 person $83,850; 5 person $90,600; 6 person $97,300; 7 person $104,000; 8 person $110,700.
• The limit applies to total household income, not only the borrower’s.
• The program lists a maximum household size of 8.
• Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

City of Lincoln Park Down Payment Assistance for First-Time Homebuyers caps the purchase price at $219,000.

• Eligible property types include single-family and condominium.

Where does it apply?

City of Lincoln Park Down Payment Assistance for First-Time Homebuyers is a federal program, so it is not limited to Michigan.

How do you apply?

Applications for City of Lincoln Park Down Payment Assistance for First-Time Homebuyers go through National Faith Homebuyers (on behalf of the City of Lincoln Park), which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through National Faith Homebuyers (or another National Faith-approved course).

2. 2

   Contact National Faith Homebuyers (on behalf of the City of Lincoln Park) to reserve funds

   Funds are reserved through First-come, first-served; applicants check availability periodically and submit eligibility pre-screen / application through National Faith Homebuyers, and are subject to availability.

3. 3

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.