Detroit’s $25,000 First-Time Homebuyer Grant Program Coming Back Soon

Detroit plans to restart its $25,000 grant program for new homebuyers. Through the non-profit National Faith, the city gave out $22 million in the past two years to make home buying possible for more residents.

"Any program that helps my buyers get $25,000 in free money is going to help me help a lot of people and change a lot of lives," said mortgage broker Shane Ouimet, according to FOX 2 Detroit.

Would-be buyers must live in Detroit for at least a year before applying. The home purchase must also stay within city boundaries.

While current funds are gone, National Faith CEO Dina Harris expects new money soon. The group worked with housing pros to connect buyers with grants.

Working as a team, agent Jermaine Golden and Ouimet helped 80 locals to get grants. Golden stated, "That's my job to educate people that you can buy a house and be in the house with this 25 grand grant."

In just over two years, Ouimet processed 75 applications. The funds made dreams real - like helping a dad of five move his family from a tight two-bedroom unit into a house, despite living on $1,500 monthly Social Security checks.

Success breeds success. One Detroit mom watched all four of her kids become homeowners by 25 through the program. Golden added, "Her kids reach out with more clients that could benefit from this grant."

This initiative fights back against out-of-town buyers snatching up local homes. "I work with investors from California, Canada, even Europe buying houses fast for the high returns. But we can stop them if locals can purchase homes," Golden explained.

Ouimet noted the big impact: "It has boosted homeownership and pride in homeownership in Detroit tremendously." The city will tell residents when new grant money becomes available.