Genesee County Down Payment Assistance Program

Genesee County Down Payment Assistance Program is a forgivable loan for homebuyers in Genesee County, Michigan, administered by Genesee County Metropolitan Planning Commission (GCMPC). The Genesee County Metropolitan Planning Commission (GCMPC) provides up to $10,000 to first-time homebuyers to purchase their first home in Genesee County (excluding the Cities of Flint and Clio and the Villages of Otter Lake and Lennon). Funded with HOME Investment Partnership funds from HUD, the assistance is a no-interest loan that is forgiven if the homeowner remains in the home for 5 years; it must be repaid in full if the property is sold within the five-year period. A mortgage and promissory note are recorded as a lien. The program works in collaboration with participating financial institutions; a borrower must first secure a mortgage with an approved lender. Total program funding availability noted as $100,000. Down payment assistance. Closing cost assistance. Funding comes from HOME Investment Partnerships Program (HUD), administered by Genesee County / GCMPC.

Genesee County Down Payment Assistance Program offers up to $10,000 in assistance. Homebuyer contribution: Homebuyer must contribute either 1% of the sales price or $500, whichever is greater. Amounts are the program's published maximums, not an offer — Genesee County Metropolitan Planning Commission (GCMPC) determines any individual award.

Genesee County Down Payment Assistance Program is forgiven after 5 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Loan must be repaid in full if the property is sold during the five-year forgiveness period; forgiven if homeowner remains in the home for 5 years. The assistance is recorded in Second (subordinate to the primary mortgage lender) position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Genesee County Down Payment Assistance Program 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 Eight (8) hours of housing counseling through a HUD-approved Housing Counseling Agency serving Genesee County (required after DPA approval). Loan TERM: no-interest deferred-payment second loan, forgiven after 5 years of owner-occupancy, repaid in full if sold within 5 years. Buyer must be a first-time homebuyer, occupy as primary residence, have zero interest in any other property, and have assets/cash reserves of no more than $30,000. Must contribute the greater of 1% of sales price or $500. 8 hours of HUD-approved housing counseling required after approval.

Genesee County Down Payment 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, adjusted for household size (HUD-released 6/01/26 limits for Flint/Genesee County; FY2026 MFI $82,100): 1 person $46,850; 2 $53,550; 3 $60,250; 4 $66,900; 5 $72,300; 6 $77,650; 7 $83,000; 8 $88,350. 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.

Genesee County Down Payment Assistance Program caps the purchase price as follows: Purchase price must be within current affordable FHA loan limits for Genesee County (per HUD lookup). Eligible property types include Single-family.

Genesee County Down Payment Assistance Program serves homebuyers purchasing in Genesee County, Michigan.

Applications for Genesee County Down Payment Assistance Program go through Genesee County Metropolitan Planning Commission (GCMPC), which publishes the current terms and the application steps on its own site. Funds are reserved through Borrower applies for a mortgage through a participating/approved lending institution; DPA provided after mortgage approval. 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.