The Homebuyer Assistance Fund (HAF) program offers up to $7,500 for low- and moderate-income homebuyers. Buyers can use the money for down payment, closing costs, and prepaid expenses.
- At least 18 years old and has not owned a home within last 3 years
- Agrees to occupy home as primary residence for at least 5 years
- Household does not exceed Annual Income Limits
- Household has $10,000 or less in assets
- Pre-approved for a mortgage from a participating lender
- Completes an approved homebuyer education course
- Located in Grand Rapids city limits
- Meets HUD/FHA minimum property standards at the time of closing
- Undergoes structural, mechanical, electrical, and plumbing inspections
- Meets program guidelines regarding lead-based paint
- Purchase price is at or below HUD established limits
Keep in mind that these requirements are here to provide general information. To apply for assistance through the Homebuyer Assistance Fund, you will need to first work with a participating lender to get pre-approved for a mortgage. Your lender will help submit your application.