The Homeownership Incentive Program was created to assist permanent City employees by awarding them a grant to be used at closing costs when purchasing a home in the specific Grand Rapids area.  Employees can receive an incentive amount of up to $3,000.  

 

 

The following eligibillity criteria must be met in order to qualify for the grant.

 

 

• Permanent ​City employees must have passed their (6) month probationary period in order to be eligible for this incentive

 

• They must have completed and submitted an application and have received the preapproval letter prior to closing on their home.

 

• They must have provided all the necessary documents such as:

       a Preliminary Closing Statement 10 days prior to closing that includes:

 

1. the applicant's name listed as a buyer;

2. the address of the property being purchased;

3. statement of total purchase prices and cash required at closing;

4. closing date;

5. name of lending institution and name and address of title company.

 

Once all the documents have been submitted and approved, the City will issue a check to the Title Company that the employee will have to pick up at the Human Resources office to be given to the Title Company at closing.