Duggan is offering special mortgages for city employees.

The program will be through Flagstar Bank, and city employees must purchase a home in Detroit through the Detroit Land Bank auction. The good news is that homes should be more affordable than ever.
In March, Duggan announced a 50 percent discount on Land Bank homes for city workers, retirees, and their immediate family members. The incentive seems to be working.
44 homes, about 22 percent of the total, have been sold to qualifying bidders as part of the employee discount program.

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  • Loans will be written for up to 300 percent of a home’s loan to value ratio
  • Renovation funding is included in the mortgage
  • City employees are eligible for a 50 percent discount on final bid on Detroit Land Bank Auctions
  • The mortgage is 15 year fixed rate
http://www.dailydetroit.com/2015/06/...e-opportunity/