Keeping Homeowners in their Homes

Detroit created the  0% Interest Home Repair Loan Program in 2015 to help keep homeowners in their homes by offering 10-year, interest-free loans ranging from $5,000 to $25,000 to help homeowners replace windows, remove lead and fix structural issues. 

The program is a  $13.5 million investment in the community. 95% of borrowers are Black. It is lauded as Black homeownership preservation tool to build intergenerational wealth.

Route Fifty | One City’s Attempt to Bring Racial Equity to Home Repairs