Detroit Home Mortgage
City of Detroit + participating lenders
Two-loan structure to cover appraisal gap on Detroit homes
Overview
Two-mortgage product designed to overcome Detroit's appraisal gap — finances both purchase + renovation to full restored value.
Detailed requirements
Single-family Detroit homes. Borrower contributes 3% down. Combined LTV up to renovated value. Lenders: participating local banks. Income limits typically ≤ $115K. Homebuyer education required.
Eligibility at a glance
- Owner-occupied required
- Yes
- Homebuyer education required
- Yes
Note: Designed to overcome low appraisals in Detroit. First mortgage at market value + 2nd mortgage covering the gap up to renovated value.
Ready to apply?
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Last verified 2026-09-02. Updated weekly. Always confirm details on the official program page before applying.