Round 2 of Detroit's Down Payment Assistance Program now underway

Detroit Down Payment Assistance Program accepting applications again

"You may qualify for up to $25,000 in down payment and closing cost assistance when buying a home," according to the City of Detroit.

DETROIT (FOX 2) - Detroit's Down Payment Assistance Program has helped many families own homes for the first time. And now, applications for round two are open.

"We get to have a place that we get to call home and do life in," said Michael Williams, standing next to his partner, Megan. "We’ve been able to have over 100 different people in our home for dinner. Megan been cooking; she’s been going crazy."

Detroit residents, who took advantage of the city's program, shared how ecstatic they are about their new homes as Detroit Mayor Mike Duggan and White House officials gathered Thursday to announce additional housing assistance available to 300 more soon-to-be homebuyers.

"My mom never bought a home. My siblings never bought a home. So this is great for me," said Satin Adams, another first time home buyer.

Both Adams' and Williams' families were given money to put down on their new houses as part of the program.

"You have to be of middle to lower income and you have to had lived in Detroit for one year as a renter," Duggan said.

Round one of the plan saw families go from renters to owners – with up to $25,000 in down payments from the American Rescue Plan.

"We saw 434 people in a matter of months (who) bought their home through this program," the mayor added. "You can buy a house, pay the taxes, pay the mortgage for less than what you’re doing and you never have to worry about moving again."

And home buying education is available.

"Those who received or attended homeownership counseling… they were more financially prepared, their credit score improved, and some avoided major pitfalls," said Gene Sperling, the American Rescue Plan coordinator.

During the second round, the City of Detroit will use $7 million in federal and partner funds. The announcement was made in the Morningside subdivision; even the head of the American Rescue Plan showed up for encouragement.

Some residents "just need that down payment help to become a homeowner and take another step in the American dream," he said.

Applications for the next round of down payment assistance start today.

For the application and more information, click here.