More than 300 Detroiters have become first-time homeowners through the first round of the City of Detroit’s Downpayment Assistance Program (DPA), which closed Dec. 4, city officials announced on Tuesday. An additional 76 Round 1 applicants have been approved and are in the process of preparing to close on their homes.
Mayor Mike Duggan announced the DPA program in March 2023 to provide approximately 450 people with up to $25,000 in downpayment assistance to purchase their own home, using $12 million in funding from President Biden’s American Rescue Plan Act. The program has been available to low- and moderate-income earners currently renting a home who were able to afford a monthly mortgage payment but didn’t have enough savings for a downpayment.
“There are a lot of Detroiters who are paying enough in rent to pay a mortgage, but just need some help with the downpayment costs,” said Mayor Duggan in a statement. “We created the downpayment assistance program so hundreds of Detroiters can kiss their landlord goodbye and have the security of owning their own home.”
Due to the overwhelming success of the program, Detroit City Council approved two amendments to double the original $6 million allocation, bringing the total Round 1 funding support for first-time homebuyers to $12.25 million. Additional applications already received will continue to be processed until all Round 1 funds are exhausted.
While funding for 2023 has come to an end, there are several steps Detroiters can take right now to secure their dream home when the program reopens for Round 2, which is expected to begin in early 2024.
For more information about the program, visit detroitdpa.org.
Other headlines for Tuesday, Dec. 5, 2023:
- The Michigan Department of Health and Human Services is offering customized classes for veterans with the online GetSetUp initiative.
- Officials say the City of Detroit is on track to record its lowest number of homicides in nearly 60 years.
- “One Sleepy Night-Detroit” is a brand new Christmas musical premiering Wednesday at the Black-owned Garden Theater in Detroit.
- Jim Leyland, who led the Florida Marlins to a World Series championship and the Detroit Tigers to two American League pennants, was elected to the National Baseball Hall of Fame on Sunday.
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