The process
From first call to keys, in eight steps.
Every step, who owns it, and what to watch for. Nothing hidden.
- 01
Get pre qualified first
Build the plan before you shop. It costs nothing and it puts you in a real price range.
Steve or Greg - 02
Take the homebuyer education course
Maybe required, depending on the program. About 6 to 8 hours. Free through National Faith. Do it early.
You - 03
Find your home and your agent
Shop in range. Watch for lead paint on older homes, which triggers extra inspection.
You + agent - 04
Make an offer and sign the purchase agreement
Most assistance applications need this signed before they can be submitted.
You + agent - 05
Lock the loan and choose your programs
Stack DPA, a temporary rate buydown, and the MCC now. The MCC must be set up before closing.
Steve or Greg - 06
Submit the assistance applications
For Detroit, applications route through National Faith and Neighborly.
With your loan officer - 07
Appraisal, inspections, underwriting
A failed lead inspection means fix and re inspect, not the end of the deal.
Lender + inspectors - 08
Program approval, then close
Detroit DPA needs about 5 business days. Funds are applied at closing, never cash to you. Then keys.
Everyone