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Down Payment Assistance Program

City of Holland Michigan Official Website

Down Payment Assistance Program

The City of Holland wants to help you achieve your dream of owning a home in the City of Holland.

The Down Payment Assistance Program is established to promote homeownership in the City of Holland by providing low to moderate income buyers with a grant of 50% of reasonable closing costs or down payment assistance, up to $3,000.

ELIGIBILITY REQUIREMENTS (PLEASE SEE PROGRAM POLICY FOR MORE DETAIL)
• Property is a single family home in City of Holland
• Submit application at least 20 days prior to close
• Home must meet all housing standards & city requirements upon close of loan (inspection required)
• Complete a homebuyer education class
• Household income is not more than 80% of Median Family Income

HOUSEHOLD SIZE     MAXIMUM INCOME
          
            1                  $38,300
            2                  $43,750
            3                  $49,200
            4                  $54,650
            5                  $59,050
            6                  $63,400
            7                  $67,800
            8                  $72,150

PROCEDURE (PLEASE SEE PROGRAM POLICY FOR MORE DETAIL)
• Complete DPA Application
• Provide good faith estimate from lender
• Provide letter of approval from lender
• Provide copy of Loan Application   
• Provide copy of Purchase Agreement
• Provide proof of income & completed income/asset checklist for each person 18 years of age or older including 30 days’   worth of paystubs
• Tenants may not be displaced as a result of the sale

If you are interested and feel you are eligible, please read the policy below and fill out the application.  If you have any further questions, please contact Sue Harder at 616-355-3139.