Hosted by Brick + Beam Detroit. RENOVATE A HOME PRE-QUALIFY 1 Apply for FREE with one of the participating banks at detroithomemortgage.org or visit any branch location. Detroit Home Mortgage. “The Detroit Home Mortgage program seeks to reverse this trend by providing residents the borrowing power to both purchase a home and to renovate and invest in that home.” “This is a game-changer for Detroit,” said Detroit Mayor Mike Duggan “We are confident that Detroit Home Mortgage will increase homeownership in the city of Detroit. Here is a list of common acronyms that are covered in the video: Current and potential Detroit Home Mortgage borrowers can reach out to one of our homebuyer counselor partners to take the required homebuyer education course. This events calendar is updated monthly with upcoming HUD-Approved Homebuyer Courses and DHM-Approved Homebuyer Counseling Agencies are listed below the calendar. Take the time to understand the information presented and feel free to take notes. As a Michigan … 13K likes. Detroit Home Mortgage. Detroit Home Mortgage. This mortgage continuing education course provides a review of relevant issues facing mortgage loan originators (MLO's) today. You may pause the video at any time or restart at any time. Get up to $2,500 in closing cost assistance to close your new TCF Bank mortgage. Grant funds are subject to availability. Once you have finished with the course, contact one of the Homebuyer Counselors below for the next steps. In 2016, Kresge partnered with nearly a dozen other funders, banks and nonprofits to launch Detroit Home Mortgage, a financing product to help address and close the appraisal gap in Detroit’s neighborhoods. Show Map. 13K likes. Huntington will pay certain closing costs for borrowers that utilize the Detroit Home Mortgage Program. Looking for a little extra support with closing costs, such as title insurance, appraisal fees or credit report costs? Of the 703 homes in Detroit purchased with mortgages in 2016, our homeownership programs assisted with 10% through our homebuyer education workshops, our Detroit HomeLIFT program, or our partnership with Detroit Home Mortgage. As a participating lender, we offer a variety of solutions that can assist in financing homes in the City of Detroit. Russell Woods. Homebuyer Education. All rights reserved. Properties can be located anywhere in the City of Detroit. Independent Bank is proud to partner with the Detroit Home Mortgage program. The innovative product offers a first mortgage from regional banks and a second mortgage of up to $75,000 for home renovations. Interested. You can take the course by watching the video below, and following the instructions at the end. Huntington supports the Detroit revitalization. Click here for more information! Applicants must be in good financial standing with a minimum FICO credit score of 600, have adequate income, and the required down payment. 6:30pm on May 19 2017. 248-607-5397 | communityhousingnetwork.org, 313-873-0064 | centraldetroitchristian.org. In 2015, Community Reinvestment Fund, along with local, state and national partners committed to launch the Detroit Home Mortgage to provide $40 million in second mortgages to fund necessary repair and rehab activities for 1,000 homebuyers in Detroit over the next three year. Huntington will pay certain closing costs for borrowers that utilize the Detroit Home Mortgage Program. pin. Conducts continuing education and state certification courses. Mortgage Educators stands out as the premier CE provider for our fresh content, high reviews, and expert team. Detroit Home Mortgage (DHM) Renovation Education is a required course for prospective DHM home buyers pursuing a home with renovation needs. DHM's High CLTV course is one of the two courses you will need to obtain a DHM loan. Friday, May 19, 2017 at 6:30 PM – 8:30 PM EDT. Detroit Home Mortgage borrowers must complete classes in homebuyer education and the financial risks involved in borrowing more than the appraised value of a home. Congratulations Dickerson family on the purchase of your new home and thanks so much for trusting Detroit Home Mortgage with your dream! 09 – HUD Approved Homebuyer Course | 8:30am-4:30pm |, 15 – HUD Approved Homebuyer Course | 4:00pm-8:00pm |, 17 – HUD Approved Homebuyer Course | 9:15am-5:15pm |, 21 – HUD Approved Homebuyer Course | 1:00pm-7:00pm |, 31 - HUD Approved Homebuyer Course | 10:00am-2:00pm |, 03 - HUD Approved Homebuyer Course | 5:30pm-8:30pm |, 05 - HUD Approved Homebuyer Course | 5:30pm-8:30pm |, 07 - HUD Approved Homebuyer Course | 10:30am-1:30pm |, 10 – HUD Approved Homebuyer Course | 5:30pm-8:30pm |, 12 – HUD Approved Homebuyer Course | 5:30pm-8:30pm |, 13 – HUD Approved Homebuyer Course | 8:30am-4:30pm |, 14 - HUD Approved Homebuyer Course | 10:30am-1:30pm |, 14 – HUD Approved Homebuyer Course | 9:15am-5:15pm |, 14 - HUD Approved Homebuyer Course | 10:00am-2:00pm |, 18 – HUD Approved Homebuyer Course | 1:00pm-7:00pm |, 21 – HUD Approved Homebuyer Course | 9:00am-3:30pm |, 28 - HUD Approved Homebuyer Course | 10:00am-2:00pm |, 03 – HUD Approved Homebuyer Course | 4:00pm-8:00pm |, 05 – HUD Approved Homebuyer Course | 9:15am-5:15pm |, 08 - HUD Approved Homebuyer Course | 5:30pm-8:30pm |, 10 - HUD Approved Homebuyer Course | 5:30pm-8:30pm |, 11 – HUD Approved Homebuyer Course | 8:30am-4:30pm |, 12 - HUD Approved Homebuyer Course | 10:00am-2:00pm |. It is important to know that your pre-qualification letter amount covers the purchase of the home and the renovation costs. The program couples a conventional first mortgage with a second mortgage and, so long as the borrower can afford to make the payments, the two mortgages combined can exceed the original appraised value of the home. Detroit Home Mortgage borrowers must complete classes in homebuyer education and the financial risks involved in borrowing more than the appraised value of a home. independentbank.com/detroit-home-mortgage-program. Libby Palackdharry, Director of Financial Stability Programs at Southwest Solutions, is featured in this short video by Detroit Home Mortgage.Libby talks about how her team helps prospective homebuyers build their credit and prepare to become homeowners. Zillow has 2,660 homes for sale in Detroit MI. Click on a marker to get more information, including price and year the home was built. Home sale prices are rising fast in some city of Detroit neighborhoods and making it easier for ordinary buyers to finally get a mortgage and not rely on all-cash deals or risky land contracts. This page will provide you with great information on the many Down Payment Assistance Programs that are available for use with Detroit Home Mortgage. This events calendar is updated monthly with upcoming HUD-Approved Homebuyer Courses and DHM-Approved Homebuyer Counseling Agencies are listed below the calendar. It is NMLS-approved for the eight hours of continuing education required for mortgage loan originators to renew their mortgage license. As a participating lender in the Detroit Home Mortgage program, Huntington offers construction and renovation loans for properties located in the city of Detroit where the cost to purchase and renovate will exceed the current value of the property. Take some time to review the available programs and please contact one of the program partners below for more information. Detroit Home Mortgage. Properties can be located anywhere in the City of Detroit. The new TCF Bank closing cost assistance program is here to help. A news release today said Duggan and others will announce the Detroit Home Mortgage initiative, which it described as “a new mortgage to address Detroit’s appraisal financing gap … oDOCUMENTS TO GATHER: PRE-QUALIFICATION LETTER BECOME EDUCATED 2 All rights reserved. Douglas Procunier | Greater Detroit Area | Program Administrator for the Detroit Home Mortgage Program | 179 connections | See Douglas's complete profile on Linkedin and connect More than a year ago. © Detroit Home Mortgage. This allows the borrower to enjoy the benefits of a new home without the worry of paying certain closing costs. You can even hire our president and mortgage industry expert, David Luna, to come speak at your next event, giving you an entertaining and education way to complete your CE requirements. Please see tcfbank.com/personal/mortgage/heart-and-home for more information. of the Detroit Home Mortgage program. Detroit, Michigan. *Note: The Detroit Home Mortgage program is only available for move-in-ready homes and can no longer be used for renovation purposes. “We will provide education to qualifying borrowers who would like to buy and renovate a home in Detroit,” said Hector Hernandez, executive director of Southwest Economic Solutions, a homebuyer counseling agency. Independent Bank supports the revitalization of Detroit. Students interested in becoming a mortgage broker must pursue formal education, training, and a mortgage broker license. We offer monthly Homebuyer Education workshops at DHHS Southwest Service Center, located at 2524 Clark St., Detroit, MI 48209. Learn more about how we help prospective homeowners here. Current and potential Detroit Home Mortgage borrowers can reach out to one of our homebuyer counselor partners to take the required homebuyer education course. In an effort to respond to the immediate needs of Michigan residents, Wayne Metro is implementing our CARES Relief & Recovery Services. Most home sales in Detroit require cash; only 19 percent of the 3,800 sales in 2016 involved a mortgage, reflecting the difficulty to secure loans in a city where property values are less than half what they were a decade ago. A DHM Representative will present an overview of the process, identify roles and responsibilities, and provide tips on how to choose the right contractor. Provides online mortgage broker and Mortgage Loan Originator training throughout the United States. 11:00am on Sep 10 2020. Events. This page will provide you with the educational resources that you will need to obtain a Detroit Home Mortgage. Wayne Metro understands that our communities are facing unprecedented challenges due to the COVID-19 pandemic. This allows the borrower to enjoy the benefits of a new home without the worry of paying certain closing costs. • Hire It Done is a separate entity from Detroit Home Mortgage and the program’s participating banks.It is your responsibility as the active and engaged lead to research and select contractors who will get the job done properly and on time. The Detroit Home Mortgage (DHM) program is set up through five banks—Huntington, Chemical, Independent, Liberty, and Flagstar—to … Independent Bank offers a grant for up to $1,000 towards closing costs for eligible DHM borrowers. The Moss Foundation/ Detroit Home Mortgage All Detroit Home Mortgage resources. Click here for a printable version of the training video. tcfbank.com/personal/mortgage/heart-and-home. Detroit Home Mortgage Finance Financing Mortgage Propety Taxes. ... FINANCIAL & HOUSING EDUCATION & COUNSELING ORIENTATION with WMCAA. Please contact Homebuyer Counselor to confirm courses. clock. View listing photos, review sales history, and use our detailed real estate filters to find the perfect place. Dates and times are subject to change. Detroit Home Mortgage is a first of its kind collaboration of local banks, foundations, MSHDA, and nonprofits seeking to address Detroit’s appraisal gap. Here we discuss these mortgage broker job requirements and more. Detroit Home Mortgage is a first of its kind collaboration of local banks, foundations, MSHDA, and nonprofits seeking to address Detroit’s appraisal gap. © Detroit Home Mortgage. Detroit Home Mortgage Financing Mortgage Social. Detroit Home Mortgage borrowers must complete classes in homebuyer education and the financial risks involved in borrowing more than the appraised value of a home. Register Today; Links. Fixer-Upper Supper Club: Detroit Home Mortgage edition! 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