The city of Detroit will allocate $6 million to give low-income Detroiters who don’t own a home a down payment of up to $25,000.
The Detroit Down Payment Assistance Program provides qualifying Detroit households grants up to $25,000 for a down payment. Funding also can be used for other home purchase-related expenses, including prepaids (such as escrow deposits for property taxes), interest rate buy-downs, closing costs and reduction in principal.
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