Port Huron Urban Pioneer+ Down Payment Assistance Program

Port Huron Urban Pioneer+ Down Payment Assistance Program is a forgivable loan for homebuyers in Port Huron, Michigan, administered by City of Port Huron Community Development Office (Planning Department). Urban Pioneer+ (effective October 1, 2023) provides up to $10,000 in down payment assistance to low-to-moderate-income, first-time homebuyers purchasing a home within the city limits of Port Huron, structured as a 5-year forgivable deferred loan. A limited-time additional $5,000 grant brings the maximum support to $15,000. Funds may be used for down payment, closing costs, and/or prepaid items. Up to $10,000 (currently up to $15,000 with the additional grant) forgivable down payment assistance for first-time buyers in Port Huron. Funding comes from HUD HOME Investment Partnerships Program funds awarded to the City of Port Huron.

Port Huron Urban Pioneer+ Down Payment Assistance Program offers between $10,000 and $15,000 in assistance, depending on the award tier a homebuyer qualifies under. Award tiers: Base $10,000 forgivable DPA; limited-time additional $5,000 grant available, for up to $15,000 total. Homebuyer contribution: Applicant must invest at least 3 percent of the purchase price into the mortgage transaction from own funds and/or a gift from an acceptable source. Amounts are the program's published maximums, not an offer — City of Port Huron Community Development Office (Planning Department) determines any individual award.

Port Huron Urban Pioneer+ Down Payment Assistance Program is forgiven after 5 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by $10,000 is a 5-year deferred payment loan, forgivable after 5 years; no repayment required as long as all program requirements are met. Sale or non-occupancy before 5 years triggers repayment. The assistance is recorded in Subordinate position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Port Huron Urban Pioneer+ 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 Blue Water Community Action Agency (BWCAA) HUD-certified first-time homebuyer education course. Residency requirement: Home must be within the city limits of Port Huron. Submit complete application 30 days before closing; obtain mortgage pre-approval; complete BWCAA homebuyer education; max asset balance $20,000; invest at least 3% of purchase price; occupy as primary residence and maintain home for 5 years; all City taxes/utilities/income tax current. Land Contract financing not eligible.

Port Huron Urban Pioneer+ Down Payment Assistance Program sets its income limit as follows: Must meet HUD income limits (low-to-moderate income) for St. Clair County / Port Huron HOME program. unconfirmed: exact income_limit_amount. 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.

Port Huron Urban Pioneer+ Down Payment Assistance Program caps the purchase price at $218,000. Eligible property types include Single Family.

Port Huron Urban Pioneer+ Down Payment Assistance Program serves homebuyers purchasing in Port Huron, Michigan.

Applications for Port Huron Urban Pioneer+ Down Payment Assistance Program go through City of Port Huron Community Development Office (Planning Department), which publishes the current terms and the application steps on its own site. 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.