Detroit is providing more residents with home down payment assistance!
This program, initially funded with $12 million from the American Rescue Plan Act, has already helped 434 Detroiters become first-time homeowners.
Round 2, which opens TODAY, aims to assist up to 300 more Detroit families, with $5 million in additional ARPA funding and $2 million from new partner funds.
The program offers up to $25,000 in down payment assistance for low-to-moderate income residents, covering one-time upfront costs such as down payments, closing costs, and more.
“This down-payment assistance program to lower costs for first-time homeowners that Mayor Duggan has created with funding by President Biden’s American Rescue Plan is precisely what President Biden is now proposing to do nationwide,” said Gene Sperling, Senior Advisor to the President.
To apply, residents must have lived in Detroit for the past 12 months or lost a home due to property tax foreclosure between 2010 and 2016.
Interested homebuyers can apply and learn more by visiting [www.detroitdpa.org] or calling the Detroit Housing Resource HelpLine at 866-313-2520.
