Detroit Mayor Mike Duggan and other officials on Thursday officially rolled out the second round of down payment assistance for some would-be homebuyers in the city. 

The second funding round was announced in December following a $12 million first round that city officials say was used to support 434 Detroiters to become homeowners. The program provides up to $25,000 in downpayment assistance for low- to moderate-income residents. Funding is capped based on income and household size.

“Thanks to President Biden’s American Rescue Plan Act, 434 Detroiters now have the security of owning their own home and are building generational wealth,” Duggan said in a statement. “The ARPA program is changing lives in many ways, but perhaps none more significant than what it is doing through the down payment assistance program.”

Second round funding consists of $5 million in federal funding from ARPA and another $2 million from various partners, largely banks and philanthropic foundations. 

Detroiters can apply for assistance at detroitdpa.org or call the Detroit Housing Resource HelpLine at (866) 313-2520 for more information.

Money for a down payment has been widely cited as one of the largest hurdles for renters seeking to buy their own home, particularly as inflation has remained elevated. Programs at the state level offer assistance, as do many banks.

Pontiac-based mortgage lender United Wholesale Mortgage last month rolled out a 0% down payment program available to any first-time homebuyer or those earning 80% or below the area median income where they live. The UWM program comes in the form of a second-lien loan directly from the lender for 3% of the purchase price up to $15,000.