Up to $20,000 toward buying your first home in Pontiac.
The City of Pontiac helps first-time buyers cover the down payment and closing costs, and most people who qualify have no idea it exists.
The assistance is a forgivable second mortgage. Awards of $1 to $14,999 are forgiven over 5 years and $15,000 to $20,000 over 10 years, so if you stay in the home, there is nothing to pay back.
Who qualifies
You need to check every box below.
- Buy in the City of Pontiac. Determined by the property's legal description, not the mailing address.
- No home ownership in the past 3 years. This is what qualifies you as a first-time buyer.
- Household income at or below 80% of Area Median Income. See the table below.
- Under $20,000 in liquid assets. Savings, checking, and similar accounts.
- Complete a homebuyer education course. We will point you to an approved one.
- Meet standard lending ratios. Housing costs at or below 35% of your income, and total monthly debts at or below 43%.
- Stay for the forgiveness period. Awards of $1 to $14,999 are forgiven over 5 years; $15,000 to $20,000 over 10 years.
2026 income limits
Total household income, counting every adult in the home.
| Household size | Income limit |
|---|---|
| 1 person | $58,700 |
| 2 people | $67,100 |
| 3 people | $75,500 |
| 4 people | $83,850 |
| 5 people | $90,600 |
| 6 people | $97,300 |
| 7 people | $104,000 |
| 8 people | $110,700 |
What happens next
Most buyers are three to nine months out. That is normal.
- Fill out the form below
Two minutes. No income figures, no credit pull, nothing that affects your report.
- We'll talk it through
I will tell you straight whether you look eligible and what is standing in the way if you are not.
- Education class and pre-approval
Both are required before an application goes in. We line them up together.
- Find the house, apply for the assistance
The application goes in after you have an accepted purchase agreement.