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How Do I Apply?

Apply Now for Detroit Downpayment Assistance

 

The Detroit Downpayment Assistance Program provides qualifying families grants up to $25,000 for downpayment, prepaids including interest rate buy down, closing costs, and principal reduction in conjunction with purchasing a home using a purchase mortgage or a purchase renovation mortgage. The total amount of assistance cannot exceed 50% of the purchase price, downpayment, prepaids including interest rate buydown, closing costs, and repairs financed into a renovation mortgage. The grants are available to homebuyers who have not held interest in a property for the last 3 years. All grant recipients must have household incomes of less 300% of federal poverty level issued annually by the Department of Health and Human Services. THE PURCHASED HOMEMUST BE THE PRINCIPAL RESIDENCE FOR THREE (3) YEARS AFTER GRANT AWARD OR THE GRANT MUST REPAID.

  • For purchase mortgages, you must be a homebuyer who has not held an interest in property in the last 3 years
  • You must prove that you resided in the city of Detroit for the last 12 months
    OR
    You must prove that you lost a home due to property tax foreclosure within the City of Detroit between the period of 2010-2016
  • Your total household income may not exceed 300% of the national poverty level for your household size issued annually by the US Department of Health and Human Services. See the table below for income limits. 

     

    1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
    $40,770 $54,930 $69,090 $83,250 $97,410 $111,570 $125,730 $139,890

     

  • You must complete the required HUD-approved education
  • You must purchase a 1-2 unit property in the City of Detroit as your primary residence and plan for it to remain as your primary residence for the next 3 years
  • You must contribute a minimum of $1,000 towards the purchase of the property
  • The housing expense ratio must not exceed 35%
  • The program offers up to $25,000 to be used for downpayment, prepaids including interest rate buy down, closing costs, and principal reduction in conjunction with a purchase mortgage or a renovation mortgage. The total amount of assistance cannot exceed 50% of the purchase price, downpayment, prepaids including interest rate buy down, closing costs, and repairs financed into a renovation mortgage.
  • Each section of the application for assistance must be completed for each household/family member. If the amount for any family member income attestation is zero (0), you must enter a zero (0).
  • Your application for assistance will not be processed if any information is missing. All lines that require a signature must be signed. If there is a witness line, it must be signed by a witness before it can be submitted. If there is a notary section, the document must be notarized before it can be submitted.
  • All household income must be declared and will be counted toward the income limit for your family size
  • NO FILE(S) WILL BE SUBMITTED TO CITY OF DETROIT FOR PAYMENT UNTIL ALL DOCUMENTATION HAS BEEN RECEIVED AND VERIFIED FOR ACCURACY, COMPLETION AND ELIGIBILITY
  • AN OFFICIAL LETTER OF APPROVAL RESERVING THE ASSISTANCE FUNDS IS ISSUED BY THE CITY OF DETROIT ONCE THE FILE IS DETERMINED SATISFACTORY FOR ALL ELIGIBILITY TERMS AND GUIDELINES BY THE CITY OFDETROIT
  • If you are unsure how to complete your paperwork, please call or visit the National Faith Homebuyers (NFH) office so a NFH representative can help you complete your paperwork.
    615 Griswold Street, Suite 506
    Detroit, MI 48226
    OR
    32150 Dorsey Street Suite 15
    Westland, MI 48186
    www.nationalfaith.org
    Office: (313) 255-9500 | Fax: (313) 255-9555
CLICK HERE TO COMPLETE THE ELIGIBILITY SURVEY
AND APPLY FOR DOWNPAYMENT ASSISTANCE

 

Download application forms for your records

DOWNPAYMENT ASSISTANCE APPLICANT CHECKLIST

 

Thank you for making an application for downpayment assistance with National Faith Homebuyers. In order for us to process your request, the following documents are required.

CUSTOMER

To be in line for Downpayment Assistance you must submit items 1, 2 & 11 below:

  1. Lender Pre-Approval Letter* (Required)
  2. Accepted Purchase Agreement* (Required)
  3. Most recent 30 Days income for ALL household members over the age of 18
  4. Two years of tax returns & W-2’s for ALL household members over the age of 18
  5. Most recent 3 months of asset verifications (bank statements)
  6. Application for homebuyer assistance (Note: Anyone 18+ must sign page 2)
  7. Copy of driver’s license or state-issued identification: front and back for anyone 18+
  8. One of the following requirements must be met:
    • Copy of social security card for all household members
    • Permanent residents must provide included evidence of lawful permanent residence for all household members.
    • Non-permanent residents must provide a valid SSN, except for those employed by the World Bank, a foreign embassy, or equivalent employer.
  9. One of the following:
    • Employment Authorization Document (USCIS Form I-766) showing that work authorization status is current
    • A USCIS Form I-94 evidencing H-1B status, and evidence of employment by the authorized H-1B employer for a minimum of one year.
    • Evidence of being granted refugee or asylee status by the USCIS.
    • Evidence of citizenship of the Federated States of Micronesia, the Republic of the Marshall Islands, or the Republic of Palau
  10. Birth certificates for household members under the age of 18
  11. Completion of HUD or MSDHA-approved homebuyer education
  12. Signed lead disclosure form
  13. Signed freedom to choose form
  14. Proof that you are a first-time homebuyer who has not held an interest in property in the last 3 years
  15. Proof that you are a city of Detroit resident OR that you resided in the city of Detroit for the last 12 months OR that you lost a home due to property tax foreclosure within the period of 2010-2016

LENDER

  1. Flood Determination
  2. Appraisal (1004)
  3. First Mortgage Application (1003)
  4. Title Insurance
  5. Loan Estimate
  6. Any Renovation Specific Documents at the request of NFH

INSPECTOR

  1. For purchases including renovations – Certificate of Acceptance is required after lender approval of the completion of any repairs executed during the draw period for any renovation mortgage (A Private inspection may NOT be used as a substitute)

REALTOR

  1. Signed Purchase Agreement
  2. Copy of Earnest Money Deposit (EMD)

When all documents have been received by National Faith Homebuyers; confirmed for completion, accuracy, and eligibility; the material will be submitted to City of Detroit for final approval and reservation of funds. The City of Detroit requires 5 business days prior to the scheduled closing in order to issue of DPA approval in a timely fashion. These documents may shared electronically with previous authorization from National Faith Homebuyers.

If you should have any questions or concerns, please do not hesitate to contact National Faith Homebuyers at (313) 255-9500.

Thank You,

National Faith Homebuyers

615 Griswold Street, Suite 506
Detroit, MI 48226

OR

32150 Dorsey Street Suite 15
Westland, MI 48186

www.nationalfaith.org Office: (313) 255-9500 | Fax: (313) 255-9555