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. You'll need to work with a participating lender to make sure you're eligible.