Formerly known as Project 14 the Chase Down Payment Assistance Program is currently closed as all provided funding has been expended. The City of Detroit and its partners are exploring additional funding opportunities.
There's A Great Home for You in Detroit!
If you are looking to purchase a home in Detroit, then you need to consider the Chase Down Payment Assistance Program. The program provides down payment assistance for qualified individuals moving into the following neighborhoods; North End, Boston Edison, Southwest/Hubbard Farms, East English Village and North Rosedale Park. Anyone can apply.
To qualify, applicants must:
Purchase a home in one of the listed neighborhoods
Complete a home buyers counseling course
Have a fixed rate mortgage with a reputable lender
55 participants have already been awarded grants totaling $850,000 and closed on their new homes in Detroit.
The Chase Down Payment Assistance Program provides homeownership opportunities through partnerships with the City of Detroit, Department of Housing and Urban Development, the Detroit Land Bank Authority and Bank of America. The program also uses Neighborhood Stabilization Program funds to acquire and rehabilitate homes and provide individuals with down payment and closing cost assistance. Additional incentives from partners such as the Michigan State Housing Development Authority, DTE Energy, JP Morgan Chase Foundation and others makes the Chase Down Payment Assistance Program one of the most innovative residency programs in the country.
For further information about the program, please call the City of Detroit, John Truong in the Mayor’s Office at (313) 224-3738 or email him at email@example.com