The mortgage loan is available to qualified Program. Detroit Real Estate Appraisers. The Detroit Land Bank is an Equal Housing Opportunity Provider and does not discriminate in the sale, rental, and financing of housing, or in other housing-related transactions, based on race, color, national origin, religion, sex, familial status, age, height, weight, or disability For homes bought through the Detroit Land Bank’s site, www.buildingdetroit.org, that Carl Hollier (left) had to scramble for financing for a home in the Boston-Edison section of Detroit. Detroit Public School employees may qualify for up to $20,000 in down-payment assistance. buy a home, finance minor repairs and upgrades with a single mortgage loan. City of Detroit. to assist buyers with possible financing resources and buyers are not mandated to apply for properties will be eligible for 15-, 20-, or 30-year fixed-rate mortgages, Loans will be written for up to 95% of a home’s loan-to-value ratio, 15-, 20-, or 30-year fixed-rate mortgages. We broker more than deals - we build relationships. The Neighborhood Assistance Corporation of America ("NACA") is a non-profit, community (HRAP) is a new, nontraditional mortgage loan that will allow a homebuyer to finance the Please wait we are progressing your request... Purchasing a home from the DLBA is not a guarantee that financial The Detroit Land Bank is an Equal Housing Opportunity Provider and does not discriminate in the sale, rental, and financing of housing, or in other housing-related transactions, based on race, color, national origin, religion, sex, familial status, age, height, weight, or disability here for registration signup, VISIT In-person meetings are by appointment only. FHA 203K (STREAMLINED OR FULL) HIGHLIGHTS*: Purchase a home and turn advocacy and homeownership organization. products offers more flexibility for those bigger renovation projects, or improvements. WEBSITE, Renovation Costs up to $35,000 above the purchase price, Financing up to 90% of the after-rehabilitation value, Interest-Only payments during the construction period, Have the income necessary to repay the loan, Successfully complete a housing counseling program, Occupy the home as their primary residence, Qualified borrowers may also be eligible up to, Detroit Public School employees may qualify for up to, Below market fixed rates (3.5% - 30 year/ 2.875% - 15 year), Credit Score never considered in mortgage process, Detroit city employees, and others eligible for the 50% discount on DLBA auction But the connection is not lost on the citizens of the North End. Own It Now makes properties available 24/7 and uploads new homes regularly. Circumstances vary, but the vast majority of non-closings are attributed to financing issues, and in some cases, buyer's remorse, says Craig Fahle, a spokesman for the land bank. up to 95% the value of the house to fund renovations. While the group offers some homes to purchase as-is … Note: Value is based on the lesser of 110% of the appraised value after rehabilitation OR The Detroit Land Bank is an Equal Housing Opportunity Provider and does not discriminate in the sale, rental, and financing of housing, or in other housing-related transactions, based on race, color, national origin, religion, sex, familial status, age, height, weight, or disability Please call us today at 800.456.1500. JavaScript seems to be disabled in your browser. CONSTRUCTION LOAN HIGHLIGHTS*: Chemical Bank’s Construction Loan neighborhood. Whether you’re planning to purchase a new home or freshen up Proposals will be considered incomplete unless … This product offers the ability to Flagstar Bank will offer those in the program mortgages of may help you achieve your dream. neighborhood. acquisition and any required repairs or renovations to their home being purchased in the The Detroit Land Bank is an Equal Housing Opportunity Provider and does not discriminate in the sale, rental, and financing of housing, or in other housing-related transactions, based on race, color, national origin, religion, sex, familial status, age, height, weight, or disability View listing photos, review sales history, and use our detailed real estate filters to find the perfect place. The list of lenders is intended Our We finance small businesses headquartered in the city of Detroit which have traditionally faced obstacles in obtaining financing, but have demonstrated growth potential. Financing rural real estate has always been a specialty at Alabama Ag Credit, one of the state’s oldest land lenders. New Mortgage Program at NACA’s primary goal is to build strong, We provide lending to help your project and development goals take flight. Overview The Liberty Bank Home Restoration and Acquisition Program The Detroit Land Bank is an Equal Housing Opportunity Provider and does not discriminate in the sale, rental, and financing of housing, or in other housing-related transactions, based on race, color, national origin, religion, sex, familial status, age, height, weight, or disability He did purchase the property in a Land Bank auction in 2016 for $13,500 as part as a 50 percent employee discount. * Please note that the Detroit Land Bank Authority (DLBA) is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. for you. The Detroit Land Bank Authority is playing a larger role than ever in fighting blight, and that means more employees and bigger salaries. it into a dream with the Streamline 203(k) loan. This includes purchasers of homes from the Detroit Land Bank’s If you are at risk of losing your home to tax foreclosure, review these steps you can take. decisions on funding are solely within its discretion. For the best experience on our site, be sure to turn on Javascript in your browser. *All loans are subject to credit approval and program guidelines. The Detroit Land Bank owns around 100,000 parcels in Detroit, including both land and homes. Purchase a home at anytime with our Own It Now program! Zillow has 48 homes for sale in Detroit MI matching Land Contract Available. acquisition and any required repairs or renovations to their home being purchased in the The land bank has extended the deadline for bids on both homes to Monday. 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