The City of Flintís First Time Homebuyers
Downpayment Loan Assistance Program offers
down payment assistance to qualified Flint buyers (one who has not owned a home in the past three years) for the purchase of their first home. The program is for persons or families who have incomes at or below 80 percent of the median income for the Flint area. Buyers are expected to make a minimum investment toward the sale price. Private lenders process the second mortgage in conjunction with the first mortgage financing.

How it Works

Interested purchasers should work with real estate professionals to obtain a home. The purchaser must also apply directly to a government regulated participating lender. The participating lender assists the purchaser in completing the necessary steps to apply for the first time homebuyer down payment loan assistance program. Funds are available on a
first come first serve basis until program funds are exhausted. The home selected must be decent, safe, and sanitary in accordance with local residential property standards.


The down payment and closing costs assistance
is a loan and is a second mortgage at zero percent interest with no monthly payment required. Prior to the specified term, the second mortgage is due and

payable if the home is sold, ownership transferred,
or when the purchaser no longer utilizes the home
as their principal place of residence. After a specified
term, the loan is forgiven.


The purchaser(s) are required to complete a case
management plan with an approved HUD or MSHDA
Housing Counseling Agency. Examples of areas
of counseling include pre and post purchasing
counseling, foreclosure prevention, money
management, budgeting, home maintenance, credit
counseling and repair management.

Lead Based Paint

The purchaser of any interest in residential real
property built prior to 1978 is notified that such
property may present exposure to lead from lead based paint that may place young children at risk of developing lead poisoning. Lead poisoning in young children may produce permanent neurological
damage, including learning disabilities, reduced
intelligence quotient, behavioral problems, and
impaired memory. Lead poisoning also poses a
particular risk to pregnant women. The seller of
any interest in residential real property is required
to provide the buyer with available information on
lead-based paint hazards from risk assessments or
inspections in the sellerís possession and notify the

Program Overview

buyer of any known lead based paint hazards. A risk assessment or inspection for possible lead-based
paint hazards is recommended prior to purchase.

Contact Information

To obtain additional information regarding program requirements, contact the City of Flint Department of Community and Economic Development at 810.766.7436 or www.cityofflint.com/dced


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