The 0% Interest Home Repair Loan Program launched in April 2015 offers 10-year, interest-free loans from $5,000 to $25,000 to help Detroit homeowners invest in and repair their homes – promoting public health and safety, increasing property values and helping residents secure and maintain homeowner’s insurance.
- Must own and live in the home for at least six months prior to applying. Vacant, unoccupied units are not eligible.
- Low to moderate income homeowners can apply no matter where they live. View the income table to learn more.
- Regardless of income, homeowners in HUD designated areas in each city council district can still apply. See the map.
- The minimum credit score is 560. Debt to income ratio cannot exceed 45% and housing ratio cannot exceed 35%. Loan to value cannot exceed 150%.
- Homeowner’s insurance and property taxes must be current.
- The homeowner must be able to afford the loan payments.
- Removal of lead & other health/safety hazards (required)
- Electrical repairs;
- Furnace & HVAC replacement;
- Roof replacement;
- Door and window replacement;
- Concrete repairs (sidewalks, driveways);
- Porches, foundations and other structural repairs.
You can also visit one of the 11 Intake Centers as well as any City of Detroit Rec Center to pick up an application for a home repair loan. When you have completed the application and compiled all of the required documents, please contact an Intake Center to schedule an appointment to submit your application.