City of Midland First-Time Homebuyers Purchase Assistance Program

City of Midland First-Time Homebuyers Purchase Assistance Program is a forgivable loan for homebuyers in Midland, Michigan, administered by City of Midland Housing/Planning Department (CDBG/HOME). The City of Midland First-Time Homebuyers Purchase Assistance Program helps income-eligible first-time homebuyers purchase an existing or newly constructed home within Midland city limits. Assistance of up to $15,000 toward down payment and closing costs is provided as a zero-interest deferred forgivable loan, conditioned on continued owner-occupancy. If the owner-occupancy/affordability conditions are not met during the term, a prorated repayment may be required. Up to $15,000 toward down payment and closing costs. Zero-interest deferred forgivable loan. Available for existing or newly constructed homes. No monthly payments. Funding comes from Federal CDBG/HOME funds via U.S. HUD passed through City of Midland.

City of Midland First-Time Homebuyers Purchase Assistance Program offers up to $15,000 in assistance. The program can be combined with Commonly layered with MSHDA MI Home Loan / MI 10K DPA (not confirmed on official source). Amounts are the program's published maximums, not an offer — City of Midland Housing/Planning Department (CDBG/HOME) determines any individual award.

City of Midland First-Time Homebuyers Purchase Assistance Program is a forgivable loan, so the balance is forgiven once the program's conditions are met. Repayment is triggered by Repayment of a prorated portion required if borrower sells, transfers, leases, rents, abandons, or ceases to occupy the property as principal residence during the affordability/forgiveness period. The assistance is recorded in Second position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

City of Midland First-Time Homebuyers Purchase Assistance Program is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time" has exceptions here: Defined as not having owned a home in the past three years. A homebuyer education course is required. Residency requirement: Home must be located within the City of Midland city limits. City-administered first-time homebuyer DPA.

City of Midland First-Time Homebuyers Purchase Assistance Program 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 for Midland County, adjusted by household size (HUD/CDBG limits, updated annually). Full dollar table by household size not confirmed on official source. The limit applies to total household income, not only the borrower’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 Midland First-Time Homebuyers Purchase Assistance Program can be used for Single Family. New construction is eligible.

City of Midland First-Time Homebuyers Purchase Assistance Program serves homebuyers purchasing in Midland, Michigan.

Applications for City of Midland First-Time Homebuyers Purchase Assistance Program go through City of Midland Housing/Planning Department (CDBG/HOME), which publishes the current terms and the application steps on its own site. Funds are reserved through First-come, first-served while funds available; apply through City of Midland Housing/Planning Department. 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.