See programs you qualify for
Get Matched Free →Rehabbed and Ready Down Payment Assistance Program
How much assistance
Up to 20% of purchase price (Grant)
Grant with 3-year residency requirement. Prorated over 3 years if the buyer moves before the period ends.
Eligibility
- Income limits: Household income below 120% of MSHDA income limit for Wayne County.
- First-time buyer required: No
- Geographic restrictions: Must purchase a Rehabbed and Ready home listed by the Detroit Land Bank Authority within the City of Detroit.
- Homebuyer education required: Yes
How to Apply for Rehabbed and Ready Down Payment Assistance Program
Step 1: Complete a homebuyer education course from a HUD-certified counseling agency. Get pre-qualified by a lender for a purchase or renovation mortgage. Find and select a Rehabbed and Ready home from the Detroit Land Bank Authority listings. Must contribute a minimum of $1,000 toward the purchase. Must provide proof of residency in the City of Detroit for 12 months prior to application. Contact National Faith Homebuyers at (313) 255-9500.
Notes
Partnership between National Faith Homebuyers, Detroit Land Bank Authority, and Rocket Community Fund. Rocket Community Fund committed $200,000 to support this program. Housing expense must not exceed 35% of income.