Building a Stronger Financial Future
Families that participate in Grand Rapids Housing Commission affordable-housing programs generally pay 30 percent of their income toward rent; so an increase in earned income typically results in a rent increase.
When a client enrolls in the GRHC’s Family Self-Sufficiency (FSS) Program, we establish an escrow account for the family in which we deposit roughly the amount of the rent increase each month. Escrow can accrue for up to five years, and clients who successfully complete the FSS Program receive these funds. Many families use their FSS funds toward the purchase of a home.
More than 400 West Michigan families currently participate in the Grand Rapids Housing Commission’s FSS Program. During 2018, the GRHC disbursed a total of $412,335 to 36 program graduates.
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