Homebuyer Assistance Program

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OCTO Homebuyer Assistance

The Oakland County Treasurer’s Office, in partnership with Independent Bank, is proud to introduce the Home Buyer Assistance Program. This innovative initiative is designed to help low- to moderate-income individuals and families in Oakland County overcome financial barriers to homeownership.

Our partnership with Independent Bank, a Member FDIC and Equal Housing Lender, is more than just a collaboration; it’s a commitment to making homeownership accessible to everyone in our community. Homeownership is a cornerstone of economic stability and generational wealth, and we are dedicated to removing the obstacles that have historically stood in the way for many families and individuals.

This program is a public-private partnership with an initial $100,000 commitment to provide essential financial support to first-time homebuyers. Program subject to change or termination. Subject to funding availability on a first-come, first-served basis until funds are exhausted. Taxes and insurance required.

Eligibility Requirements

To qualify for the Oakland County Treasurer’s Independent Bank Home Buyer Assistance Program, you must meet the following criteria:

  1. First-Time Homebuyer: You or your co-borrower must not have had ownership in a residential property during the past three years.
  2. Primary Residence: The property must be located in Oakland County, Michigan, and will serve as your principal year-round residence.
  3. Income Eligibility: Your household income must be at or below 120% of Oakland County's Area Median Income (AMI), which is currently $116,760 for 2024.
  4. Personal Contribution: You must contribute at least $1,000 of your personal funds toward purchasing the home.
  5. Pre-Purchase Counseling: To ensure you are fully prepared for homeownership, you must complete an approved pre-purchase counseling program.
  6. Financing with Independent Bank: The mortgage for your home purchase must be provided by Independent Bank.
What is the Oakland County Treasurer’s Independent Bank Home Buyer Assistance Program?
Who qualifies as a first-time homebuyer?
How do I know if I meet the income requirements?
Can the $5,000 grant be combined with other assistance programs?
What is the first step to apply?

Ready to Start Your Journey?

Don’t let financial barriers stand in the way of your dream home. Apply now!

APPLY NOW