The City of Jackson City Council has approved an expansion of down payment assistance available through the city’s 100 Homes initiative, increasing support for qualified homebuyers and strengthening access to attainable homeownership in Jackson.
The approved amendment increases the maximum down payment assistance available to eligible buyers from $25,000 to up to $50,000, allowing the program to better support current and future residents navigating rising housing costs.
City leaders say the change helps address one of the largest barriers to homeownership: saving for a down payment.
“Saving for a down payment remains one of the biggest challenges for working families,” Cory Mays, Grant Coordinator for the City of Jackson said. “By increasing assistance through the 100 Homes initiative, the city is helping more families move into a home and begin building equity right away.”
Expanding Access to Homeownership
The 100 Homes initiative combines state and federal funding to expand attainable homeownership opportunities within Jackson neighborhoods.
The program is not limited to first-time homebuyers and is available to qualified buyers purchasing newly constructed homes through the initiative.
Program Progress
The initiative continues to gain momentum in Jackson:
•?34 homes have been completed or sold
•?18 additional homes are currently under construction
Equity for Homeowners
Many of the homes built through the program are already appraising above their purchase price, meaning buyers may begin with immediate equity the day they receive the keys to their home.
The amendment reallocates funds from the city’s portion of the JACKSONHOUSING24 State of Michigan Allocation Grant to increase available assistance. No new funding was requested. The change represents a program adjustment designed to better support qualified buyers and expand access to homeownership.
This expanded assistance will help more residents purchase homes, build long-term stability, and continue reinvesting in Jackson neighborhoods. The expanded assistance takes effect immediately.
Residents interested in learning if the 100 Homes program is their path to affordable homeownership can visit https://www.cityofjackson.org/100Homes.
The approved amendment increases the maximum down payment assistance available to eligible buyers from $25,000 to up to $50,000, allowing the program to better support current and future residents navigating rising housing costs.
City leaders say the change helps address one of the largest barriers to homeownership: saving for a down payment.
“Saving for a down payment remains one of the biggest challenges for working families,” Cory Mays, Grant Coordinator for the City of Jackson said. “By increasing assistance through the 100 Homes initiative, the city is helping more families move into a home and begin building equity right away.”
Expanding Access to Homeownership
The 100 Homes initiative combines state and federal funding to expand attainable homeownership opportunities within Jackson neighborhoods.
The program is not limited to first-time homebuyers and is available to qualified buyers purchasing newly constructed homes through the initiative.
Program Progress
The initiative continues to gain momentum in Jackson:
•?34 homes have been completed or sold
•?18 additional homes are currently under construction
Equity for Homeowners
Many of the homes built through the program are already appraising above their purchase price, meaning buyers may begin with immediate equity the day they receive the keys to their home.
The amendment reallocates funds from the city’s portion of the JACKSONHOUSING24 State of Michigan Allocation Grant to increase available assistance. No new funding was requested. The change represents a program adjustment designed to better support qualified buyers and expand access to homeownership.
This expanded assistance will help more residents purchase homes, build long-term stability, and continue reinvesting in Jackson neighborhoods. The expanded assistance takes effect immediately.
Residents interested in learning if the 100 Homes program is their path to affordable homeownership can visit https://www.cityofjackson.org/100Homes.
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