Homebuyer Process

NDC hands over the keys and garage door opener to the new homeowner, in front of the title company's sign.

To purchase a New Development home, you must meet the following requirements:

  • Be a first-time homebuyer (have not owned a home in the last three (3) years)
  • Be mortgage ready with a participating lender. This requires a reasonable debt-to-income ratio and an acceptable credit score
  • Be income-eligible (see the chart at Homes for Sale)
  • Contribute at least 1% of the sales price
  • Complete an approved Homebuyer Education course

We are here to help you through the home buying process. It takes time, and no two buying experiences are the same, but the process will look approximately like this:

(1) Applicant completes the NDC Application Form

Be sure to review form carefully. Sign accordingly. After completing the form, please return it to our office by e-mail: info@newdevelopmentcorp.org or mail:  205 Carrier St NE | Grand Rapids, MI 49505. You must have Adobe Reader to view the application documents. If you have questions, call us!

(2) Return form to New Development Corporation. Keep in mind that our houses are sold on a first-come, first-eligible basis. If you are seeking a particular house, prompt return of these documents may help you secure the house you desire.

(3) Gather the information you will need to apply for a mortgage. At a minimum, gather:

  • Tax returns for the last two years (be sure that W-2’s are attached)
  • Two most recent pay stubs for all borrowers
  • List of current debts and monthly payment schedules
  • Child support payment record from Friend of the Court (if applicable)
  • Landlord information (name, address, phone #) if applicable
  • Social Security numbers for all borrowers
  • Identification (MI driver’s license, State of MI ID, etc.)

(4) In order to get down payment assistance, usually available, our homes can be purchased using only a participating lender. We work with several and are happy to help you find a lender that can meet your needs.  Click here for more information on the City of Grand Rapids HAF Program

(5) PLEASE do NOT give notice to your landlord just yet. This process can take time!

It is our policy to provide housing opportunities to all persons regardless of race, color, religion, sex, familial status, handicap, national origin or sexual orientation.  We are an Equal Opportunity housing provider.  We honor both the spirit and letter of the Fair Housing Act.