hey prescott.
See what you qualify for

Oakland County Treasurer's Independent Bank Home Buyer Assistance Program

Oakland County Treasurer's Office (Financial Empowerment Center), in partnership with Independent Bank · Oakland County, Michigan

Last verified
See what you qualify forOfficial program site →
Assistance

$5,000

The maximum the program publishes — not an offer

Income limit

120% AMI

Of area median income; varies by county and household size

Repayment

Grant

Not repaid

What is 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).

How much assistance does it provide?

Oakland County Treasurer's Independent Bank Home Buyer Assistance Program offers up to $5,000 in assistance.

  • Buyer 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.

Do you have to pay it back?

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.

Who qualifies?

Oakland County Treasurer's Independent Bank Home Buyer Assistance Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

The program requires

  • First-time homebuyer — with exceptions: First-time homebuyer defined as not having owned a residential property in the past three years; includes qualifying displaced homemakers and single parents
  • The home is occupied as a primary residence
  • A completed homebuyer education course, through Approved pre-purchase counseling program (completed as part of the Independent Bank loan process)
  • Residency: Property must be located in Oakland County, Michigan
  • DRAFT (dpa-gap-finder 2026-06-11): pending admin review. Mortgage must be obtained through Independent Bank; taxes and insurance required; program subject to change or termination; unconfirmed: min_credit_score, max_dti, max_purchase_price, lien_position, citizenship_requirement, max_household_size, max_liquid_assets

The program excludes

  • Households above 120% of area median income

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?

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.

What kind of home can it be used for?

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

Where does it apply?

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

How do you apply?

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.

  1. Take a homebuyer education course

    Required by the program, through Approved pre-purchase counseling program (completed as part of the Independent Bank loan process).

  2. Contact Oakland County Treasurer's Office (Financial Empowerment Center), in partnership with Independent Bank to reserve funds

    Funds are reserved through First-come, first-served until funds are exhausted; apply through an Independent Bank Loan Officer, and are subject to availability.

  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.

Learn this program

Short reads on how it works, in plain language. Free, no sign-up needed to read.

Free course from Hey Prescott

Oakland County Treasurer's Independent Bank Home Buyer Assistance Program, explained

A short, free course on Oakland County Treasurer's Independent Bank Home Buyer Assistance Program: what it is, who it is for, whether it has to be paid back, where it applies and how to apply. Based on program data from July 2026. About ten minutes.

5 modules · About 10 minutes

Read the course

Other programs in Oakland County, Michigan

See every program in Oakland County, Michigan →

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