Apr 9, 2013 at 8:16 am
Looking to buy your first home? The city of Grand Forks may soon have a deal for you. The Finance Committee Monday approved an incentive program that provides up to ten-thousand dollars for a down payment and closing costs. The assistance would take the form of a no-interest deferred loan secured by a second mortgage. If the buyer refinances…sells the home…or ceases to occupy it as a primary residence the loan must be repaid to the city. The homebuyer program will be funded to the tune of 420-thousand dollars and is available for the purchase of both new and existing homes.