The Kalamazoo County Land Bank and the City of Kalamazoo have partnered to offer new or newly rehabilitated homes in the following neighborhoods surrounding beautiful downtown Kalamazoo: Eastside, Edison, Fairmont, Northside, Stuart and Vine. KHOP is part of a national effort to create excellent housing opportunities near downtown business centers in great neighborhoods. Funds for the program are provided by HUD’s Neighborhood Stabilization Program. Buyers may qualify for considerable financial assistance to keep mortgage payments affordable. In fact, with this financial help, it is often possible to own a home for an amount that’s the same as or less than rent.
Eligible buyers receive subsidies that reduce the amount of their mortgage loan. The range of the subsidy is a minimum of $1,000 with an additional $2,000 to be applied toward closing costs to $30,000. The amount of the subsidy is dependent upon a buyer’s income (click here for KHOP Subsidy Guidelines). Applicants that are considered very low income may be eligible for subsidies greater than $30,000. Although households at or below 120% of area median income qualify for this program, at this time, we only have homes available for households at or below 50% of area median income (see income limits below).
| 1 person | 2 person | 3 person | 4 person | 5 person | 6 person | 7 person | |
| 50% AMI | $21,850 | $24,950 | $28,050 | $31,150 | $33,650 | $36,150 | $38,650 |
| 120% AMI | $52,440 | $59,880 | $67,320 | $74,760 | $80,760 | $86,760 | $92,760 |
For more information about this program, contact the Land Bank at 269-743-6318.
To begin the qualification process, follow these steps:
Complete a Referral Form and return it to the Kalamazoo County Land Bank to obtain an income packet. The Land Bank is located at 229 East Michigan Avenue, Suite 340, Kalamazoo, Michigan 49007 (map to Land Bank).
To begin the qualification process, follow these steps:
- Obtain a pre-approval letter from a financial institution of your choice.
- Return completed income packet to the Kalamazoo County Land Bank.
- View our website for available homes: www.kalamazoolandbank.org , click on KHOP-Home Ownership.
- If you are notified that you are eligible for the program, you must complete an 8 hour home buyer education course before purchasing a home. More information about registering for this course will be sent to you after notification of your eligibility.
