City of Livonia Down Payment Assistance for first time homebuyers

Livonia Down Payment Assistance Requirements

• Buy in the City of Livonia
• Receive homebuyer education
• Household incomes at or below 80% of the area median income
• Cannot own or have an interest in any other real estate in the past 3 years at the time of purchase
• Maximum purchase price is $219,000
• Must be primary residence & must occupy the home as a principal residence for 5 years for 2nd mortgage to be forgiven
• Eligible for single-family & condo
• Homebuyer cannot have more than $20,000 in liquid assets
• Mortgage financing is required for all transactions; land contract and lease/purchase financing is not eligible
• Funding is on a first-come, first-served basis; please check on availability periodically