The Commitment to Community Partnership, a collaboration of the City of Detroit, Mayor Dave Bing's Detroit Works Project and Citizens Bank, now part of FirstMerit Bank, is ready to help you get a fixed rate, below-market-rate loan to buy, refinance or improve a home in select Detroit and select areas of Wayne County neighborhoods.
With $1.5 million allocated for below-market-rate loans, down payment assistance and closing cost assistance, you can become a part of Detroit’s revitalization by joining a historic Detroit community or improving your little piece of it.
A loan with the Commitment to Community Partnership really is different.
- A minimum of 1 percent lower than the current market rate*
- Up to $7,500 that can be used for down payment and closing cost assistance*
- A fixed rate
- Various terms available for home purchase loans and refinance loans
- Between $500 and $10,000 with no processing fees for permanent improvements to real estate with the unsecured home improvement loan.
For more information on the Home Purchase, Home Refinance and Home Improvement loans contact Tyrone Starks, NMLS #629449, phone 313-494-3277 or Priscilla Hampton, NMLS #803810, phone 313-494-3278.
*For qualifying areas of Detroit and select areas of Wayne County; total financial assistance (down payment assistance, closing cost assistance, and below market interest rate) may not exceed $7,500 per qualified application.