Current down payment assistance guidelines, updated from one source.
One source feeds every down payment assistance page Lendmire publishes; the Kentwood, MI figures below refresh when the program sheets are updated.
Of the purchase price
Measured on the purchase price or the appraised value, whichever is lower; the largest option covers the down payment and reaches closing costs, and the smaller options cover the 3.5% FHA minimum.
Covers the whole FHA down payment
This covers the entire 3.5% FHA minimum down payment and is forgiven at closing: no lien on the home, no monthly payment, no interest. It opens on the area income limit or on a qualifying category.
On the forgivable and repayable options
No income cap on the forgivable and repayable options: earn what you earn. The nothing-to-repay option is the one exception, opening at or below 140% of area median income or through a qualifying category.
Credit score to start
This is the lowest score that opens an option here — the nothing-to-repay option; the forgivable second liens start a little higher and the repayable options higher still, so a stronger score opens more choices.
| Option | Assistance | What you repay | Credit · mortgage · units |
|---|---|---|---|
| Grant-style assistance — nothing to repay | 2% or 3.5% of the price | Nothing — released at closing | 620+ · FHA 203(b), FHA repair escrow, FHA Limited 203(k), FHA Standard 203(k) · 1–4 units |
| Forgivable second lien — three-year | 3.5% of the price | Nothing after 36 on-time mortgage payments | 640+ · FHA 203(b), FHA Limited 203(k), HUD-184, USDA · 1–2 units |
| Forgivable second lien — five-year | 3.5% of the price | Nothing after 60 on-time mortgage payments | 640+ · FHA 203(b), FHA Limited 203(k), HUD-184, USDA · 1–2 units |
| Repayable second lien — thirty-year amortization, ten-year balloon | 3.5% or 5% of the price | Second lien, 30-year amortization, balloon in year 10 | 660+ · FHA 203(b), FHA Limited 203(k), HUD-184, USDA · 1–2 units |
| Closing-cost repayable second lien | 3.5% or 5% of the price | Second lien, 30-year amortization, balloon in year 10 | 660+ · FHA 203(b) · 1–2 units |
| Refinance-cost second lien (repayable) | 1% to 3.5% of the balance | Second lien, repaid | 660+ · FHA 203(b) · 1–4 units |
Current down payment assistance snapshot · updated September 7, 2026 · six options offered in Michigan · no option requires a first-time buyer · no option combines with another assistance program · owner-occupied primary residences only.
Down payment assistance options are consumer mortgage programs arranged through select wholesale lenders, licensed in sixteen states, paired with FHA, USDA, or HUD-184 first liens. Assistance is stated as a percentage of price or value, never as a dollar figure a specific borrower would receive; the forgivable and repayable options are second liens with their own disclosures. Eligibility depends on the first lien’s approval, the option’s rules, the property, and full underwriting, subject to lender program eligibility. The calculator’s rate is an editable market benchmark, not a quote, and its payment is an illustrative estimate; no fee or lender identity appears on this page. Lendmire is a mortgage broker and never the lender, and is not affiliated with or acting on behalf of FHA, VA, USDA, HUD, or the federal government.
What down payment assistance is — and how the options differ.
The first-time home buyer programs in Kentwood, MI answer the most common reason a qualified buyer does not close — the cash to close — with assistance measured on the price and shaped to the buyer’s situation.
For the program overview, see Lendmire’s down payment assistance program, or the statewide guide at Down Payment Assistance in Michigan.
Assistance covers the FHA down payment
In Kentwood, MI, the assistance attaches to the first lien at closing and covers the buyer’s required investment; on the larger option, what remains after the minimum investment goes toward closing costs.
Four shapes: grant, forgivable, repayable, refinance
Nothing to repay, forgiven over time, or repaid with a balloon: the three purchase shapes in Kentwood, MI cover the same minimum investment and differ in what the buyer owes afterward.
Credit floors, mortgage programs, and unit counts
A Kentwood file is placed by three things — the credit tier, the first-lien program, and the property — and the options table on this page shows the floor, the first liens, and the unit limit for every option offered in Michigan.
Eligibility without a first-time-buyer rule
A Kentwood buyer who has owned before is eligible; the second-lien options carry no income limit and no first-time-buyer rule, and the nothing-to-repay option opens on any one of four categories.
The calculator below runs this math on a price you enter. Choose an assistance option offered in Michigan and add any cash of your own; it sizes the minimum investment, the assistance, what is left for closing costs, the FHA loan with its mortgage insurance, and the payment at an editable market benchmark rate.
Where Kentwood’s first-time and moderate-income buyers shop — and how the assistance fits.
The share of Kentwood, MI households that rent, the median home value, and the median household income together sketch the gap the assistance closes for a first purchase.
Citywide figures provide general market context, not an appraisal or an income calculation. In most markets, the renter households are the pool the program exists for: qualified for a payment close to their rent, short the cash to close; the assistance is the bridge from one to the other.
Data sources: U.S. Census Bureau — ACS 5-Year (2024) housing and population estimates, including tenure, home values, gross rents, and household income.
Distinct Kentwood submarkets, distinct property rules.
Across Kentwood’s condominiums, townhomes, and older neighborhoods close to work, the same program produces different closings because prices, property types, and first liens differ block by block.
New construction and infill
New construction in Kentwood works with the program; the appraisal and the builder’s timeline set the pace, and the assistance closes with the first lien like any other purchase. Kentwood counts a population near 54K within the Grand Rapids-Wyoming-Kentwood, MI area.
Older neighborhoods and renovation loans
In Kentwood’s established neighborhoods, a buyer can use the program with a limited or standard renovation loan, so the down payment help and the repair budget close together. The median owner-occupied home value in Kentwood runs near $268,200 on the latest Census estimate.
Condominiums close to work
Buyers in Kentwood’s condominium buildings use the program to bridge the down payment, with the building’s approval status settled early so the closing is not held up. About 39% of Kentwood’s households rent — roughly 8,212 renter households, the pool the program exists for.
Townhomes and attached homes
Attached homes and townhomes in Kentwood sit at price points where the minimum investment is smaller in dollars but no easier to save; the assistance closes that gap, and the association’s documents are reviewed with the file. Median household income in Kentwood sits near $74,373 on the latest Census estimate.
Two-to-four-unit homes, owner-occupied
The small multi-unit stock in Kentwood is a path to a first home that also earns rent; the assistance pairs with the first lien on the building, up to the option’s unit limit. Median gross rent in Kentwood is about $1,260 a month — the payment many renters already carry.
Manufactured homes on owned land
For Kentwood buyers looking at manufactured housing, the assistance is available on owned land, with single-width homes reaching only the option that accepts them. On a home at Kentwood’s median value, the FHA minimum investment comes to about $9,400 — the figure the assistance is built to cover.
Submarket descriptions are general market context; the first lien’s approval, the option’s rules, and full underwriting decide every figure in a file.
Four ways Kentwood buyers put down payment assistance to work.
From a first home to a small multi-unit building to an FHA refinance, down payment assistance in Kentwood, MI solves a specific set of problems.
Buy a first home with the down payment covered
For a first purchase in Kentwood, the assistance closes the down payment gap; the option is chosen by credit, first lien, and eligibility category.
Buy a two-to-four-unit home and live in one unit
House-hacking in Kentwood, MI pairs with the program when the buyer occupies a unit; the unit count decides which option applies, and the first lien carries the building.
Cover closing costs too on the larger option
The larger option exists for the Kentwood, MI closing where the down payment is only half the problem: it carries the minimum investment and a further share for costs.
Cover the costs of an FHA refinance
The refinance-cost option in Kentwood, MI is for an existing FHA loan, not a streamline, and not a loan that already carries assistance; it is sized on the lesser of balance or value.
Size the assistance on a Kentwood price before requesting a quote.
Run a Kentwood price through the options before you request a quote: the minimum investment, the assistance applied, what is left for closing costs, the mortgage insurance tier, and the estimated payment. Enter income to see the ratios a lender reads.
Kentwood FHA payment with assistance
Illustrative Kentwood inputs; the calculator recalculates on every change.
Editable benchmark: 6.71% as of September 3, 2026 · Freddie Mac 30-year average via FRED®. A conventional market reference, not an FHA loan quote.
Illustrative starting assumptions: a $270,000 price near Kentwood’s median owner-occupied home value (kept where an FHA first lien is realistic), the strongest assistance option offered in Michigan applied against the FHA minimum investment, a thirty-year term at the current Freddie Mac benchmark, property taxes and insurance estimated for Michigan (U.S. Census Bureau). Every field is editable.
Illustrative estimate only — not a Loan Estimate, approval, quote, or commitment to lend. The rate field carries the weekly Freddie Mac thirty-year conventional benchmark, a market reference and not an FHA loan quote; your rate is set by the lender at lock. FHA mortgage insurance follows HUD’s published schedule for the term, leverage and loan size entered; taxes, insurance and dues are editable estimates; closing costs are not included; a repayable second lien adds its own payment, which is not shown here. Consumer mortgage lending licensed in sixteen states. Lendmire is not affiliated with or acting on behalf of FHA, USDA, HUD, or the federal government.
Same buyer, four very different closings.
The right structure for a Kentwood, MI buyer depends on savings, credit, the first lien, and whether the help needs to reach closing costs.
Assistance on a government loan, saving the minimum, or a gift.
Covers the FHA minimum investment as a percentage of the price — some with nothing to repay — with forgivable and repayable second-lien shapes, credit floors in the low six hundreds, and no first-time-buyer rule; the larger option reaches closing costs and prepaids.
The buyer brings the minimum investment from savings, a retirement withdrawal, or seasoned funds; no second lien, no eligibility category, no homebuyer education requirement, and no assistance to carry. For the first lien itself, see Lendmire’s FHA loan program.
Where the property is USDA-eligible or the buyer qualifies for HUD-184, the second-lien options carry the Kentwood file, and the closing costs are what the assistance covers. For the USDA first lien, see the USDA loan program.
Assistance fits the buyer short of cash to close; the plain purchase fits the buyer with savings; the USDA and HUD-184 pairing fits eligible properties and borrowers; a documented gift fits when family can help — Lendmire places the Kentwood, MI file where it reads best.
What to prepare for a Kentwood scenario review.
A typical starting file for a first purchase with assistance.
This is a general preparation guide, not a universal checklist. The selected lender may request additional information based on the mortgage, the assistance option, the property, and the eligibility category. Nothing here is legal or tax advice.
Local details that can change the loan.
Every Kentwood file is underwritten individually, but the same handful of considerations recur; they are worth settling before the contract is signed.
Use these checks to keep the Kentwood file clean and fundable.
Three checks keep a Kentwood assistance file on track: know which option the credit tier opens, know which first lien the property can carry, and know the category that opens the nothing-to-repay option.
- Know the option: choose by cost to carry first, amount second.
- Confirm the category: complete the homebuyer education course where required.
- Plan for the balloon: treat the tenth-year balloon as a planning date.
The option decides what you owe afterward
The same minimum investment can be covered three ways in Kentwood, MI, and the difference is entirely in what happens after closing: nothing, nothing if the first lien stays current, or a second loan that comes due; the options table shows what is offered.
The eligibility category for the nothing-to-repay option
The category is checked at application on the nothing-to-repay option, together with the signed assistance application and the education certificate; no option requires a first-time buyer, and the second-lien options carry no income limit.
The balloon on the repayable option
The repayable second lien amortizes over thirty years but comes due in the tenth year; it carries interest and a monthly payment, its own loan number, and a balloon disclosure. It is the option that reaches closing costs, and it is a loan.
Blended scores for two-borrower files
Blending is a qualification tool on the second-lien options and nothing more; a Kentwood file that blends still needs each borrower to have a representative score, and manual underwriting is off the table.
Property type and unit count select the option
The property itself can move a Kentwood, MI file: a fourplex, a single-width manufactured home, or an unapproved condominium project each changes which option can attach, so the address is read before the option is promised.
From a Kentwood pre-approval to keys with the assistance in place.
The process for a Kentwood, MI purchase with assistance is deliberate, because the details around the assistance are what stall closings.
Pick the option
The first step is the option: which ones the credit opens, which the first lien allows, and which costs the least to carry for a Kentwood, MI buyer — settled before anything is ordered.
Get the mortgage approved
The first lien’s approval carries the file; the assistance is arranged alongside it, with the eligibility category and the education certificate in hand where they apply.
Clear the property
Property review runs in parallel with the first lien; the Kentwood home is checked against the option’s rules and the first lien’s, from the unit count to the association package.
Close both loans together
Final underwriting reads the whole Kentwood, MI file against the first lien’s rules and the option’s; the loan funds with the assistance in place and the second lien, where there is one, recorded behind it.
A brokerage that pairs the assistance to the loan.
Down payment assistance is where a generalist stumbles: the options differ by first lien, by credit tier, by unit count, and by state, and the wholesale programs that carry them competently are a short list.
The option, matched to the buyer
Lendmire reads the options offered in Michigan against a Kentwood buyer’s credit, first lien, property, and category before anything is ordered, and names the fit by cost to carry.
The mortgage, matched to the property
USDA where the address is eligible, HUD-184 where the buyer qualifies, FHA everywhere; the Kentwood, MI first lien is the foundation the assistance stands on.
The right wholesale program
Not every wholesale lender carries down payment assistance, and the ones that do differ on shape, floors, and states; Lendmire knows which is which.
Trusted by first-time buyers & families alike.
Kentwood down payment assistance FAQs
The questions a Kentwood, MI buyer asks before requesting an assistance review, answered plainly.
Do I have to be a first-time homebuyer?
Not for any option. First-time status is one path into the nothing-to-repay option, not a requirement of the program.
Is there an income limit?
The second-lien options have none; the nothing-to-repay option has an area income limit that a qualifying occupation, a first purchase, or an underserved tract can substitute for.
What first-time home buyer programs are available in Kentwood?
Four shapes paired with a government first lien: a nothing-to-repay option released at closing; forgivable second liens with no interest and no payment, released after an on-time payment period; a repayable second lien with a balloon that also reaches closing costs and prepaids; and a refinance-cost option for an existing FHA loan. The options table on this page shows what is offered in Michigan.
Do I have to pay the assistance back?
Two of the shapes: the nothing-to-repay option where it is offered, and the forgivable second liens, which are released after the on-time payment period. The repayable option is a loan.
What credit score do I need?
It depends on the option. The lowest floor belongs to the nothing-to-repay option; the second-lien options start higher, and the first lien’s own rules apply on top.
Do I need a homebuyer education course?
Only the nothing-to-repay option requires it; the certificate is part of that file.
Can I use the assistance on a second home or a rental?
No. Every option is for an owner-occupied primary residence; on the forgivable and repayable options the home must stay the primary residence for the term of the second lien.
What is the rate on the mortgage and on the assistance?
The first lien’s rate is set by the lender at lock; the calculator on this page seeds its rate field from the weekly Freddie Mac conventional benchmark as a market reference, not an FHA quote, and every field stays editable. The repayable second lien’s terms are set by the program and disclosed on its own documents; the forgivable and nothing-to-repay options carry no interest.
What if my mortgage is above the county loan limit?
A high-balance first lien narrows the choice to the repayable options in Kentwood, MI.
Which mortgages can the assistance be used with?
Government first liens only: FHA for every option, USDA and HUD-184 for the second-lien options.
The down payment is the hurdle. Let us clear it.
Request a scenario review with the price and the first lien in mind; Lendmire answers with the option, the floor, and what the file will need.
This guide covers Kentwood — for the statewide options, categories, and property rules, see Down Payment Assistance in Michigan, part of Lendmire’s down payment assistance program.
Also in Michigan: Dearborn · Farmington Hills · Wyoming · Rochester Hills · FHA Loans · USDA Loans