Community Action Agency
Home Purchase With Rehabilitation
This program assists families with the purchase of a single family home with the stipulation that they rehabilitate that home to ensure the home meets basic safety and livability standards. Up to $10,000 may be available for down payment, prepaid expenses, and reasonable closing costs.
Home Purchase With Rehabilitation is funded through HOME program funds by the Michigan State Housing Development Authority (MSHDA).
Rules
Homes must be located in the City of Holland, however certain sections of the City of Holland are ineligible. Homes in the City of Holland within these border streets are ineligible: 13th Street, Harrision Street, 19th Street, Lincoln Avenue. If you are considering a home purchase within that area and need assistance call the City of Holland’s OurStreet Program at (616) 355-3133. All other homes within the City of Holland are eligible provided they meet the qualifications.
Rehabilitation costs cannot exceed $30,000 and must be completed 45 days after title transfer.
Community Action Agency will provide a contractor to propose bids. All work must be done by licensed contractors. Customers must meet income guidelines for Ottawa County and must demonstrate the ability to obtain a mortgage from a lending institution.
Recipients must pre-qualify for a loan and provide the name of the banker with whom they met. Customer must participate in budget counseling and home ownership counseling arranged by CAA staff.
Customer must participate in six months of post-purchase follow up by CAA staff.
How Do I Qualify?
Qualifications for this program are based on income guidelines. Please see the chart below.
| Home Purchase with Rehabilitation - Income Guidelines | |
|---|---|
| Family Size | Annual Income |
| 1 | $19,560 - $39,100 |
| 2 | $22,320 - $44,700 |
| 3 | $25,120 - $50,250 |
| 4 | $27,920 - $55,850 |
| 5 | $30,160 - $60,300 |
| 6 | $32,400 - $64,800 |
| 7 | $34,640 - $69,250 |
| 8 | $36,840 - $73,700 |
