New Development Corporation
228 Carrier Street NE
Grand Rapids MI 49505
(616) 361-7500
How do I locate a home?
Grand Rapids Association of Realtors
The Grand Rapids Association of Realtors web site can be used by homebuyers to locate a realtor. A list of properties for sale is also available and homebuyers can list specific criteria, such as location and price range, to assist in their search. |
Inner City Christian Federation
Housing Opportunity Center
515 Jefferson Avenue SE
Grand Rapids MI 49503
(616) 336-9333 ICCF's Lease/Purchase Program constructs homes for occupancy by low- and moderate-income first-time homebuyers. The homes are sold to the homebuyer after a two-year lease period. Down payment assistance is provided at the time of closing. ICCF currently constructs 16-20 homes per year. |
Lighthouse Communities, Inc.
1422 Madison Avenue SE
Grand Rapids, MI 49507
(616) 451-9140 Lighthouse Communities works synergistically with local grass roots community development organizations in managing rental property and developing homes for first time homebuyers. The organization's mission is "Helping grass-roots non-profit community development groups create affordable housing in their neighborhood for the purpose of stimulating community revitalization." Lighthouse Communities motto is: - Preparing the Home for the Homeowner
- Preparing the Homeowner for the Home
- Preparing the Community for the Homeowner and the Home
Lighthouse Communities is currently working through the following community development partners: Abundant Life Ministries, Restorers, Oakdale Neighbors, SECA, and Baxter Neighborhood Association. |
Habitat for Humanity of Kent County, Inc.
539 New Avenue SW
Grand Rapids MI 49503
(616) 774-2431 Habitat for Humanity constructs new homes in neighborhoods throughout Kent County. Homes sell for approximately $65,000, depending on house size and location. An earnest payment of $200 is required before construction begins. Monthly payments (including taxes and insurance) on the 25 year, 0% interest mortgages are typically around $350 for homes built in Grand Rapids. Homes built in other communities in Kent County may have higher tax rates and consequently higher monthly payments. Habitat homebuyers must complete 300-500 "sweat equity" hours. Hours are earned through participation in homebuyer education workshops and by working on the construction of their home and others. |
Restorers, Inc.
1413 Madison Avenue SE
Grand Rapids, MI 49507
(616) 243-1984 Restorers rehabilitates homes for sale in the Madison/Hall neighborhood area. They also provide minor home repairs for qualifying homeowners. Contact Restorers for details about how to qualify for these programs. |
New Development Corporation
228 Carrier Street NE
Grand Rapids MI 49505
(616) 361-7500 New Development Corporation acquires and rehabilitates homes for sale to income eligible (at or below 80% of the Area Median Income) first-time homebuyers. Before being sold, the homes are completely renovated with improvements including, but not limited to, new electrical, plumbing, mechanical, roofing, insulation, flooring, windows, and siding. Lead-based paint and asbestos hazards are also abated. |
Westown Jubilee Housing, Inc.
724 West Fulton Street
Grand Rapids, MI 49504
(616) 458-4841 Westown Jubilee Housing builds and rehabilitates homes on the West Side of Grand Rapids for sale to low income families. Homeownership education is provided. Call for more details about how to qualify for their program. |
I've selected a home. How am I going to pay for it?
Banks and Mortgage Companies
Banks and mortgage companies can help you sort through the many loan options. See the Yellow Pages for a listing. |
City of Grand Rapids Community Development Department
Homebuyer Assistance Fund (En Espanol)
The Homebuyer Assistance Fund (HAF) offers up to $5,000 in downpayment and closing cost assistance for first-time homebuyers. Funds are available to purchase homes that are located within the Community Development General Target Area. The Target Area Street Directory can be used to identify the location of specific addresses relative to the GTA. Click above for additional information, a map of the eligible areas, a list of lenders participating in the program, and homebuyer counseling opportunities. Contact a participating lender to apply for assistance from the Homebuyer Assistance Fund. |
Michigan State Housing Development Authority (MSHDA)
(517) 373-6840 MSHDA offers a number of programs that provide financial assistance for the purchase of a home. Programs offered include downpayment assistance, low-interest mortgage loans and financing for the purchase of homes that require repair.
Down Payment Assistance Program
"Eligible individuals may receive a loan of up to $7,500 for down payment assistance on MSHDA/Conventional, MSHDA/Rural Development, or MSHDA/ FHA-insured first mortgages. The deferred loan has zero-interest and no monthly payments." |
U.S. Department of Housing and Urban Development (HUD)
(616) 456-2100 ext. 2137
HUD offers various programs that provide assistance to homebuyers and renters. In downtown Grand Rapids, there is a HUD Next Door Storefront where information is available on a variety of housing opportunities and programs, including the HUD Homes for Sale program. Information about all of the HUD programs and homes for sale can be readily accessed through HUD's homepage at www.hud.gov, or at interactive computers located at either an outside kiosk or inside the HUD Next Door Storefront Office at 21 Ionia Avenue NW. |
Inner City Christian Federation
515 Jefferson Avenue SE
Grand Rapids, MI 49503
(616) 336-9333 Home Start Mortgage Program
Inner City Christian Federation offers the Home Start Mortgage Program. This mortgage loan product enables participants that do not qualify for financing to purchase and make necessary repairs on a home. Houses are purchased from the general real estate market or from owners, and are located in the City of Grand Rapids Community Development General Target Area. Program features include: - Lenient credit requirements
- Lower non-conforming interest rates (typically between 6.5% and 9%)
- Low down payment, usually 1% of the total loan cost
- Special debt to income ratios - 35% housing & 45% total debt
- Closing costs and down payment may be financed by a 2nd mortgage.
Eligible participants are those whose annual income does not exceed either 100% of the state wide median income adjusted for family size or MSHDA's single family income limit, whichever is lower. Call ICCF at (616) 336-9333 for more information. |
Michigan Home Ownership Coalition
3960 Whispering Way SE
Grand Rapids, MI 49546
(616) 956-9581
The Michigan Home Ownership Coalition can assist homebuyers in obtaining a HomeChoice Mortgage. HomeChoice is a single-family mortgage designed to meet the underwriting needs of low- and moderate-income people who have a disability or who have a family member with a disability living with them. Following are key components of the program:
- The Michigan State Housing Development Authority will provide up to $5,000 in downpayment assistance.
- Applicants must have income that is at or below the area median income. (SSI, SSDI, part-time job or trust income can be used to purchase a house.)
- Applicants must have a good credit history.
- Debt to income ratios: 33% housing and up to 38% total debt. Sometimes debt to income ratios up to 50% are allowed.
- The program has flexible underwriting criteria and non-traditional credit sources can be used.
- A low down payment is required from the buyer. Down payments can be as little as $500.
- The down payment may be derived from a monetary gift from a family member or friend.
- Pre-and post-purchase counseling is offered.
- Broker agencies assist with the application process and provide support before and after the home purchase.
- The HomeChoice Mortgage program can be used anywhere in Michigan.
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Veterans Administration
The Veterans Administration (VA) offers financing to veterans through lower-interest loans, often with no down payment. The loans may be used to buy or build a home or for energy-related improvements to an existing home. Click here to determine if you are eligible for a VA loan. |
I've signed my mortgage. What do I need to prepare for move-in?Moving into a new home can be a lot of work. Following are a few things to consider as you prepare to move-in.
Obtain Homeowners Insurance
While your lender is probably requiring that you have mortgage insurance, which protects them from losses that result if you default on your home mortgage, you should also consider acquiring homeowners insurance. There are a variety of types of coverage that homeowners insurance policies can include, so it is necessary for you to contact an insurance agent for detailed information. Most basic policies provide some coverage for the following:
- the house (protection from fire, etc.),
- contents of the house (furniture, clothing, etc.), and
- accidents that occur on the property.
Change Your Address with the United States Postal Service
To assure uninterrupted mail service you need to submit a Change of Address Order to the U. S. Postal Service. This form may be obtained at your local post office or by clicking the above link to the agency's web site.
Have Utilities Connected
When you move into your home in the City of Grand Rapids, you must put the utilities in your name right away. Make sure you are prepared for this by paying off any outstanding utilities in advance. Gas Service | DTE Energy
1-800-477-4747 | Electric Service | Consumers Energy
1-800-477-5050 | Water Service | City of Grand Rapids Water Department
1101 Monroe NW
Grand Rapids MI 49503
(616) 456-3200 |
Connect Local Phone Service
There are several phone carriers servicing Grand Rapids and the surrounding area. Refer to the phone book for a current listing of service providers.
Refuse and Recycling Garbage Collection
Recycling | City of Grand Rapids
Streets and Sanitation Department
201 Market Street SW
(616) 456-3232 ( Garbage Collection )
(616) 456-4444 ( Recycling ) |
Contact Your Neighborhood Association
A great way to meet your new neighbors and become involved in your community is by contacting your neighborhood association. The Community Development Department maintains a list of Neighborhood Associations throughout the City of Grand Rapids. Call (616) 456-3677 for more information.
Obtain Basic Equipment and Tools
All homeowners need some basic items in order to maintain their home's appearance and structure. You will want to budget for these items and purchase them as soon as you are able. If you are unable to buy them, you may be able to borrow them from a friend or neighbor or you may qualify for Home Repair Services' Tool Lending Program. Following is a list of some basic tools that you may need:
- hammer
- rake
- saw
- pliers
- lawn hose
- wheel barrow
| - wrench
- utility knife
- tape measure
- screwdrivers
- electric drill and bits
- paint tools (roller, tray, brushes, etc.)
| - level
- shovel
- snow shovel
- vacuum
- lawn mower
- putty knife
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