Oakland County Home Buyer Assistance Program Shares First Year Successes, Applications Still Accepted

Oakland County Dwelling Purchaser Help Program shares first yr successes, functions are nonetheless being accepted

(Oakland County Treasurer, January 20, 2026)

Oakland County, MI – Oakland County Treasurer Robert Wittenberg introduced that $270,000 in grants have been awarded by the Oakland County Treasurer’s Workplace Impartial Financial institution Dwelling Purchaser Help Program since its launch in September 2024. As of December 31, 2025, this system has helped 54 first-time homebuyers buy houses in 23 communities in Oakland County, together with Ferndale, Lake Orion, Southfield, Waterford and White Lake, with a median buy value of $ 244,000. This system continues to simply accept functions.

This system, funded by the Oakland County Treasurer’s Workplace and administered by Impartial Financial institution, was created to handle affordability limitations and enhance entry to homeownership for income-eligible residents throughout the county. Eligible homebuyers in Oakland County can obtain a $5,000 grant per family towards the down fee and/or closing prices of their first dwelling buy.

“This milestone represents regular, measurable progress in increasing entry to homeownership,” stated Oakland County Treasurer Robert Wittenberg. “Our partnership with Impartial Financial institution has helped certified patrons scale back upfront prices, buy houses in communities throughout Oakland County, and contribute to the financial power and stability of these communities.”

In immediately’s actual property market, many first-time patrons face lowered buying energy and wrestle to save lots of for aggressive down funds, which common nationally from 14% to twenty%, in response to latest nationwide information on homebuyers and actual property markets.

In distinction, analysis from the Mortgage Bankers Affiliation reveals that typical first-time patrons usually contribute solely 6% to 9% towards a down fee. This grant program helps first-time homebuyers who want modest however significant help shut that hole, overcome preliminary affordability limitations and obtain sustainable homeownership and long-term monetary stability.

To qualify for the Oakland County Treasurer’s Impartial Financial institution Dwelling Purchaser Help program, candidates should meet the next standards:

• First-time homebuyers buying a main residence in Oakland County.
• Have a qualifying family earnings equal to or lower than 120% of the county’s Space Median Earnings (at the moment $123,240 for 2025).
• Contribute at the very least $1,000 in private funds.
• Full recommendation earlier than buy.
• Receive mortgage financing by Impartial Financial institution.

“It’s nice to see the super success that the Oakland County Treasurer’s Workplace Impartial Financial institution Dwelling Purchaser Help Program has had over the previous yr,” stated Patrick Ervin, Government Vice President of Mortgage at Impartial Financial institution. “Creating extra alternative and entry to homeownership advantages the complete group.”

This system is at the moment accepting functions and eligible homebuyers are inspired to use. Full eligibility necessities and registration particulars can be found at oakgov.com/dpassist.

Save this message as a PDFPrint this message