Detroit Unveils $7M Second Round of Down Payment Assistance for Aspiring Homeowners

Homeownership in Detroit is more than just a key to a house; it’s a gateway to stability, community pride, and long-term prosperity. In a city that’s rebounding with growth and energy, owning a home means laying down roots and investing in the future. For Detroiters, especially in a city with a rich yet turbulent history, the chance to own a piece of their community is a powerful step toward rebuilding neighborhoods, fostering generational wealth, and creating a legacy of hope and resilience for years to come. Pushing this narrative is Detroit Mayor Mike Duggan and other city officials as they have recently announced the second round of down payment assistance for prospective homebuyers in Detroit, marking a significant step toward increasing homeownership in the city. This initiative, which was first introduced in December, follows a successful initial round that allocated $12 million to support 434 Detroit residents in becoming homeowners. The program is designed to provide up to $25,000 in down payment assistance to low- to moderate-income residents, with funding caps determined by income and household size. Mayor Duggan highlighted the transformative impact of the program, made possible by President Biden’s American Rescue Plan Act (ARPA). “Thanks to President Biden’s...