Down Payment Assistance Resources

This page will provide you with great information on the many Down Payment Assistance Programs that are available for use with Detroit Home Mortgage.
Take some time to review the available programs and please contact one of the program partners below for more information.

Huntington Bank

Huntington will pay certain closing costs for borrowers that utilize the Detroit Home Mortgage Program. Properties can be located anywhere in the City of Detroit. This allows the borrower to enjoy the benefits of a new home without the worry of paying certain closing costs.

Closing Costs that may be waived (not all inclusive):
  • Appraisal Fee
  • Credit Report
  • Tax Service Fee
  • Data Verification Fee
  • Flood Certification Fee
  • Inspection Fees
  • C/P Inspection Fees
  • Project Manager Fee
  • Title Company Lender Policy Fee
  • Title Company Closing Fee
  • Title Endorsement Fees
  • Recording Fees
  • Survey Fees

TCF Bank

Looking for a little extra support with closing costs, such as title insurance, appraisal fees or credit report costs? The new TCF Bank closing cost assistance program is here to help. Get up to $2,500 in closing cost assistance to close your new TCF Bank mortgage.

Independent Bank

Independent Bank offers a grant for up to $1,000 towards closing costs for eligible DHM borrowers. Grant funds are subject to availability.

Down Payment Assistance Grant Details:
  • No income restrictions
  • 0% interest grant that is forgivable 20% each year for five years
  • Funds are not required to be repaid if under hardship (as with DHM seconds)
  • No repayment requirement if first and second mortgages paid off
  • The prorated balance due is repayable if the property is sold, refinanced, transfer of title, or in foreclosure within the first 5 years
  • In the event of a refinance of the first mortgage, there can be no cash out to the borrower
  • Funds that are “recaptured” would be returned to the pool of funds and made available for assistance to other qualified borrowers of this DPA Program

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