Homeownership Opportunity Assistance Program (HOAP)


HOAP provides a downpayment and closing cost assistance to income qualified families* who purchase a home in one of the target neighborhoods.

Hometown Housing Partnership Inc., a non-profit agency, receives funds from the city's Community Development Block Grant program to run the program.

Households who have pre-qualified for a mortgage may receive a second mortgage of up to $15,000 to purchase a home in East Lansing. The second mortgage does not require payments but up to 50% is repayable when the house is resold. An example is that a family qualifying for a conventional mortgage of $120,000 would be potentially able to purchase a house for $130,000 depending on the individual situation.

Houses assisted through the program are deed-restricted for home ownership only. Since the inception of HOAP in 1994, over 65 homes have been deed-restricted through this program in the target neighborhoods of Chesterfield Hills/Central, Red Cedar, Bailey (south of Burcham) and Southeast Marble.

Contact:
Executive Director, Hometown Housing Partnership Inc. Program Coordinator
(517) 974-5433

HUD Income Limits 2008*
1 Person Household	$34,300
2 Person Household	$41,500
3 Person Household	$46,700
4 Person Household	$51,900
5 Person Household	$56,050
6 Person Household	$60,200
7 Person Household	$64,350
8 Person Household	$68,500

*These figures represent 80% of the Median family income for the Lansing-East Lansing MSA ($64,900), adjusted for family size. Eighty percent of median income is defined as "low-income" by HUD.