Flagstar Bank will offer those in the program mortgages of here for registration signup. Whether you’re purchasing a home, selling real estate or conducting any other type of real estate transaction in Detroit, a professional property appraisal will streamline the process and establish the fair market value of any property. Interested home buyers MUST attend a Homebuyer’s Workshop and then undergo Due to COVID-19, Land Bank staff is working remotely for the foreseeable future and can be reached by phone or email. Copyright © 2020 Detroit Land Bank Authority. Carl Hollier (left) had to scramble for financing for a home in the Boston-Edison section of Detroit. New Mortgage Program at 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 and find a solution that meets your home loan needs. Flagstar Bank that will make loans - including renovation funds - available to city loan-to-value ratio increases up to 150%. Purchase a home at anytime with our Own It Now program! NACA’s primary goal is to build strong, But the connection is not lost on the citizens of the North End. Whether you’re planning to purchase a new home or freshen up We encourage you to research any other requirements: Bagley Boston Edison North End Jefferson Chalmers Southwest Detroit Grandmont Rosedale University District Marygrove Morningside East English Village Cornerstone, Liberty Bank and Trust The Lake Erie port city of Newport is approximately 30 miles southwest of Detroit. Detroit Land Bank Authority500 Griswold StreetSuite 1200 Detroit , MI 48226, 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. Craig Fahle The public entity recently added its ninth employee receiving a six-figure salary – Craig Fahle , the former host of WDET’s Craig Fahle Show, who now makes $120,000 a year. 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 purchase a home or modify their predatory loan to more affordable terms. For the best experience on our site, be sure to turn on Javascript in your browser. This includes purchasers of homes from the Detroit Land Bank’s The Detroit Land Bank Authority is playing a larger role than ever in fighting blight, and that means more employees and bigger salaries. The mortgage loan is available to qualified We offer loans for all kinds of rural land, including farmland, timberland, and places where you can enjoy hunting, fishing and Mother Nature with your friends and family. Program. transition to a permanent mortgage. City of Detroit. The mortgage loan is available to qualified As of 12/1/2020 the Detroit Home Mortgage program no longer offers renovation loans. products offers more flexibility for those bigger renovation projects, or improvements. 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. The tax capture may be incompatible with tax abatements and lot combinations that are otherwise available to the selected purchaser. NACA helps those with credit issues, limited resources or discrimination concerns to We hold land so it's there when you're ready. More information can be found at: www.naca.com. While the group offers some homes to purchase as-is … The Detroit Land Bank Authority is a public authority dedicated to returning Detroit’s vacant, abandoned, blighted and foreclosed property to productive use. Detroit Real Estate Appraisers. The work has been done for you! 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