“This opportunity to achieve my dream of owning a home is too good to not look into,” said Eric Corales.
Eric is one of 40 aspiring homebuyers who attended a seminar on July 22 in Detroit to learn about special incentives offered through Bank of America. The incentives are for families and individuals with low to moderate household income. The seminar was hosted by Southwest Solutions’ Homeownership Assistance Team.
For residents of Detroit who want to purchase homes in the city, an extraordinary opportunity is available for up to $30,000 in downpayment assistance through a program called the Community Home Fund. This program is offered by Opportunity Resource Fund with support from Bank of America.
Bank of America is also offering the America’s Home Grant Program for low to moderate income residents of Wayne County. This program provides up to $2,500 toward closing costs. Eligible Detroit residents can combine this program with the Community Home Fund.
To quality for the Community Home Fund, the homebuyer must agree to live in the home for at least three years and must complete a Homebuyer Education course. Southwest Solutions offers both in-person and online homebuyer education.
Eric graduated from Southwest Solutions’ Earn + Learn job training program a year ago and then immediately got a full-time job in the food industry. He has also been working with one of Southwest Solutions’ financial coaches, Ivory Hodges.
“My credit has improved to point where I’ll be able to get a mortgage,” Eric said.
Eric now is looking to buy a home in southwest Detroit.
For more information about these great homebuying incentives and how you might qualify, contact Olga at 313-297-0095 or email her.