hey prescott.
See what you qualify for

LiveYpsi Homebuyer Assistance Program

Eastern Michigan University (Office of the President) · Ypsilanti, Michigan

Last verified
See what you qualify forOfficial program site →
Assistance

$5,000

The maximum the program publishes — not an offer

Repayment

Forgivable

Forgiven after 5 years

What is LiveYpsi Homebuyer Assistance Program?

LiveYpsi Homebuyer Assistance Program is a forgivable loan for homebuyers in Ypsilanti, Michigan, administered by Eastern Michigan University (Office of the President).

  • LiveYpsi is an employer-assisted homebuyer program that provides eligible Eastern Michigan University (EMU) and EMU Foundation employees with a forgivable loan of $5,000 or $10,000 (depending on property location) to assist with the purchase of a primary residence in the City of Ypsilanti or designated areas of Ypsilanti Township. The loan is forgiven 20% per year over five years as long as the participant remains an eligible employee, occupies the home as their primary residence, and pays property taxes. Created in 2012 to stabilize neighborhoods around EMU's main campus, the program is funded by EMU and Washtenaw County. Eligible expenses include down payment, moving expenses, and home renovations.
  • Forgivable loan of $5,000 or $10,000.
  • 20% forgiven per year over 5 years.
  • Usable for down payment, moving expenses, and renovations.
  • Accrued interest also forgiven at year 5.
  • Funding comes from Eastern Michigan University and Washtenaw County (seed funding originally provided by the DTE Foundation); subject to availability of funds.

How much assistance does it provide?

LiveYpsi Homebuyer Assistance Program offers between $5,000 and $10,000 in assistance, depending on the award tier a buyer qualifies under.

  • Award tiers: Two amount tiers based on property location: $5,000 or $10,000 (see LiveYpsi map).
  • Buyer contribution: Not published.
  • Amounts are the program's published maximums, not an offer — Eastern Michigan University (Office of the President) determines any individual award.

Do you have to pay it back?

LiveYpsi Homebuyer Assistance Program is forgiven after 5 years, so a buyer who stays that long does not repay it.

  • Repayment is triggered by 20% of the loan is forgiven for each year the participant remains an eligible EMU/EMU Foundation employee, occupies the home as primary residence, and timely pays property taxes; failure to meet these terms before year 5 triggers repayment of the unforgiven balance plus accrued interest.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

LiveYpsi Homebuyer Assistance Program is open to buyers who will live in the home as their primary residence.

The program requires

  • The home is occupied as a primary residence
  • On credit: Not published on official program page
  • Residency: Property must be the participant's primary residence located within the City of Ypsilanti or specific designated areas of Ypsilanti Township (per LiveYpsi map)
  • DRAFT (dpa-gap-finder 2026-06-12): pending admin review. Loan term: 5-year forgivable loan, 20% forgiven annually, contingent on continued eligible EMU/EMU Foundation employment (appointment of 50% or more), owner occupancy, and timely property tax payment. EMPLOYER-RESTRICTED: open only to regular employees of EMU and the EMU Foundation. Eligible uses include down payment, moving expenses, and home renovations. Gap notes: Unconfirmed lien position, interest rate, homebuyer education requirement, and credit/income details (not published on official page). Subject to availability of funds.

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

LiveYpsi Homebuyer Assistance Program sets its income limit as follows: No income limit published; eligibility is based on being a regular EMU or EMU Foundation employee with an appointment of 50% or more, not on household income.

  • 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?

LiveYpsi Homebuyer Assistance Program caps the purchase price as follows: Not published.

Where does it apply?

LiveYpsi Homebuyer Assistance Program serves buyers purchasing in Ypsilanti, Michigan.

How do you apply?

Applications for LiveYpsi Homebuyer Assistance Program go through Eastern Michigan University (Office of the President), which publishes the current terms and the application steps on its own site.

  1. Contact Eastern Michigan University (Office of the President) to reserve funds

    Funds are reserved through Application submitted to EMU (administered through the Office of the President); subject to availability of funds, and are subject to availability.

  2. 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.

90-second match

Not sure which you qualify for?

Answer 9 questions and we'll match you to every program you can actually use — in about 90 seconds. No SSN, no credit pull.

Find my programs