Ingham County officials are highlighting $1.5 million in state funding to help more residents become homeowners.
The funding, secured by state Sen. Sarah Anthony, will support the county's Housing Trust Fund and efforts to expand homeownership assistance.
Anthony joined Ingham County Treasurer Alan Fox and community partners Wednesday to mark the first anniversary of the county's Down Payment Assistance Program.
The program offers eligible homebuyers up to $30,000 to help cover the cost of purchasing a home.
“Down payment assistance can make the difference between continuing to rent and being able to purchase a home of your own, and so I think that's really the power of this program,” said Diana Bartlett, the county's Housing Trust Fund coordinator.
The assistance comes in the form of a zero-interest second mortgage with no monthly payments. The loan can be forgiven after seven years if the homeowner meets the program's requirements, including living in the home as their primary residence.
To qualify, a household must earn no more than 80% of the area's median income. For a single person, the 2026 income limit is $57,500.
According to Ingham County's Down Payment Assistance Program, funding for homes purchased on the open market had been exhausted as of Oct. 1.
For now, assistance is limited to newly constructed or rehabilitated homes supported by the county's Housing Trust Fund. Additional program funding is expected in early 2027.
The Housing Trust Fund was originally established with $9 million in federal American Rescue Plan funding to support affordable housing development, homeownership and other housing initiatives across the county.
“The County Board of Commissioners invested $9 million into a housing trust fund to be able to encourage home ownership throughout the county,” Bartlett said.
Assistance is provided on a first-come, first-served basis, with priority given to first-generation homebuyers.
Residents can learn more about eligibility, funding availability and applications through the Capital Area Housing Partnership, which administers the program.