Oakland County Treasurer's Independent Bank Home Buyer Assistance Program

Oakland County Treasurer's Independent Bank Home Buyer Assistance Program is a grant for homebuyers in Oakland County, Michigan, administered by Oakland County Treasurer's Office (Financial Empowerment Center), in partnership with Independent Bank. A public-private partnership between the Oakland County Treasurer's Office and Independent Bank offering a $5,000 grant to eligible first-time homebuyers in Oakland County to help cover down payment and closing costs. Launched September 2024; subject to funding availability on a first-come, first-served basis until funds are exhausted. $5,000 non-repayable grant toward down payment and closing costs; can be combined with other assistance programs. Funding comes from Public-private partnership — Oakland County Treasurer's Office and Independent Bank (initial $100,000 commitment).

Oakland County Treasurer's Independent Bank Home Buyer Assistance Program offers up to $5,000 in assistance. Homebuyer contribution: Buyer must contribute at least $1,000 of personal funds toward purchasing the home. The program can be combined with other assistance, subject to the rules of each. Amounts are the program's published maximums, not an offer — Oakland County Treasurer's Office (Financial Empowerment Center), in partnership with Independent Bank determines any individual award.

Oakland County Treasurer's Independent Bank Home Buyer Assistance Program is structured as a grant, so it is not repaid. Repayment is triggered by None — grant is not repayable. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Oakland County Treasurer's Independent Bank Home Buyer 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: First-time homebuyer defined as not having owned a residential property in the past three years; includes qualifying displaced homemakers and single parents. A homebuyer education course is required, through Approved pre-purchase counseling program (completed as part of the Independent Bank loan process). Residency requirement: Property must be located in Oakland County, Michigan. Mortgage must be obtained through Independent Bank; taxes and insurance required; program subject to change or termination;.

Oakland County Treasurer's Independent Bank Home Buyer Assistance Program limits household income to 120% of the area median income, which varies by county and household size. Household income at or below 120% of Oakland County Area Median Income (AMI); $123,240 for 2025. 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.

Oakland County Treasurer's Independent Bank Home Buyer Assistance Program can be used for Single Family.

Oakland County Treasurer's Independent Bank Home Buyer Assistance Program serves homebuyers purchasing in Oakland County, Michigan.

Applications for Oakland County Treasurer's Independent Bank Home Buyer Assistance Program go through Oakland County Treasurer's Office (Financial Empowerment Center), in partnership with Independent Bank, which publishes the current terms and the application steps on its own site. Funds are reserved through First-come, first-served until funds are exhausted; apply through an Independent Bank Loan Officer. 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.