See programs you qualify for
Get Matched Free →By Tyler Thompson · Licensed Real Estate Agent · Updated April 10, 2026
Homebuyer Programs in Royal Oak, MI (2026)
Royal Oak is a vibrant city of about 58,000 residents in Oakland County, known for its walkable downtown, dining scene, and strong sense of community in the northern Detroit suburbs. With a median home price around $325,000, it is one of the more sought-after markets in metro Detroit. While the city does not offer its own down payment assistance program, Oakland County provides robust support. The CHN Oakland County HOME Homebuyer Subsidy offers up to $25,000 in zero-interest assistance, and the Oakland County Treasurer Homebuyer Assistance Program provides a $5,000 grant through a partnership with Independent Bank. The LMCU HomeAssist program can add up to $10,000 in down payment and closing cost help. At the state level, the MSHDA MI 10K DPA Loan provides up to $10,000 and the MSHDA First-Generation DPA offers up to $25,000 for qualifying first-generation buyers. By stacking county and state programs, Royal Oak buyers can access substantial assistance toward their purchase.
County Programs in Oakland County
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| CHN Oakland County HOME Homebuyer Subsidy | Forgivable Loan | Up to $25,000 | Yes | View → |
| Oakland County Treasurer Homebuyer Assistance Program | Grant | $5,000 grant | Yes | View → |
| Oakland Housing Authority Homeownership Voucher Program | Grant | Monthly mortgage assistance (housing subsidy applied toward mortgage payment) | No | View → |
- Type:
- Forgivable Loan
- Amount:
- Up to $25,000
- First-time only:
- Yes
- Type:
- Grant
- Amount:
- $5,000 grant
- First-time only:
- Yes
- Type:
- Grant
- Amount:
- Monthly mortgage assistance (housing subsidy applied toward mortgage payment)
- First-time only:
- No
State Programs in Michigan
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| HomeBoost Down Payment Assistance | Grant | Up to $15,000 (up to $25,000 through some participating lenders) | Yes | View → |
| MSHDA First-Generation Down Payment Assistance | Deferred Loan | Up to $25,000 | Yes | View → |
| MSHDA MI 10K DPA Loan | Zero-Interest Loan | Up to $10,000 | Yes | View → |
- Type:
- Grant
- Amount:
- Up to $15,000 (up to $25,000 through some participating lenders)
- First-time only:
- Yes
- Type:
- Deferred Loan
- Amount:
- Up to $25,000
- First-time only:
- Yes
- Type:
- Zero-Interest Loan
- Amount:
- Up to $10,000
- First-time only:
- Yes
Federal Programs
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| FHA Loans | Government-Insured Mortgage | Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026) | No | View → |
| Good Neighbor Next Door (HUD) | Government Property Sale Program | 50% discount off the list price of HUD-owned homes | Yes | View → |
| Home Possible Mortgage (Freddie Mac) | Government-Guaranteed Mortgage | Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment | No | View → |
| HomeReady Mortgage (Fannie Mae) | Government-Guaranteed Mortgage | Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment | No | View → |
| HUD $100 Down Program | FHA-Financed HUD REO Purchase | Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs. | No | View → |
| USDA Rural Development Loans | Government-Guaranteed Mortgage | 100% financing (no down payment required); loan amount up to appraised value | No | View → |
| VA Loans | Government-Guaranteed Mortgage | No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026) | No | View → |
- Type:
- Government-Insured Mortgage
- Amount:
- Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026)
- First-time only:
- No
- Type:
- Government Property Sale Program
- Amount:
- 50% discount off the list price of HUD-owned homes
- First-time only:
- Yes
- Type:
- Government-Guaranteed Mortgage
- Amount:
- Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
- First-time only:
- No
- Type:
- FHA-Financed HUD REO Purchase
- Amount:
- Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs.
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- 100% financing (no down payment required); loan amount up to appraised value
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026)
- First-time only:
- No
Nonprofit Programs
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| Community Housing Network Homebuyer Education and Counseling | Grant | Free homebuyer education courses and one-on-one housing counseling | No | View → |
| Habitat for Humanity of Oakland County Homeownership Program | Forgivable Loan | Below-market-price homes with affordable mortgage terms | No | View → |
| LMCU HomeAssist Down Payment Assistance | Zero-Interest Loan | Up to $10,000 (up to $15,000 in targeted areas) | Yes | View → |
| OLHSA Homebuyer Education and Counseling | Grant | — | No | View → |
- Type:
- Grant
- Amount:
- Free homebuyer education courses and one-on-one housing counseling
- First-time only:
- No
- Type:
- Forgivable Loan
- Amount:
- Below-market-price homes with affordable mortgage terms
- First-time only:
- No
- Type:
- Zero-Interest Loan
- Amount:
- Up to $10,000 (up to $15,000 in targeted areas)
- First-time only:
- Yes
- Type:
- Grant
- First-time only:
- No
How to Apply
Step 1: Check your eligibility. The CHN Oakland County HOME Homebuyer Subsidy requires household income at or below 80% of the area median income. The Oakland County Treasurer program allows income up to 120% AMI ($123,240 for 2025). The MSHDA MI Home Loan is available to first-time buyers statewide.
Step 2: Complete homebuyer education. Community Housing Network offers free homebuyer education courses and one-on-one housing counseling for Oakland County residents. OLHSA also provides HUD-approved homebuyer education. Both issue MSHDA Certificates of Completion required for state DPA.
Step 3: Contact Community Housing Network. They administer the Oakland County HOME Homebuyer Subsidy providing up to $25,000 as a zero-interest, zero-payment soft second mortgage. This is the largest local assistance available to Royal Oak buyers.
Step 4: Apply for the Oakland County Treasurer grant. Contact Independent Bank at 844-821-6178 to discuss eligibility for the $5,000 grant. You must contribute at least $1,000 of your own funds and use Independent Bank for the mortgage.
Step 5: Get pre-approved for a mortgage. Work with an MSHDA-approved lender to qualify for the MI Home Loan with up to $10,000 in down payment assistance. Ask about the First-Generation DPA program if neither you nor your parents have owned a home.
Step 6: Explore additional options. The LMCU HomeAssist program provides up to $10,000 in down payment and closing cost assistance. Habitat for Humanity of Oakland County offers affordable homeownership for qualifying families. Contact them at 248-338-1843.
Frequently Asked Questions
How much down payment assistance can I get in Royal Oak?+−
Do I have to be a first-time homebuyer to qualify?+−
What is the maximum home price I can pay?+−
What homebuyer education is required?+−
Does Royal Oak have its own down payment assistance program?+−
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