Down payment assistance is available for households seeking to purchase a market home. The Housing Department can provide a qualified household with 20% of the home's value, not to exceed $200,000. In exchange for this financial assistance, the household will record a permanent Workforce deed restriction on their new home at closing. Thus far in 2021, three households have purchased homes using this tool and another household is under contract to purchase a home.
To qualify for the program a household must earn at least 75% of their income locally, at least one adult in the household must work full-time for a Local Business, and the household may not own other residential real estate within 150 miles.
Get pre-qualified for this assistance today! Once pre-qualified, we will provide the household with a letter to give their lender, stating their qualification for the program.
Learn more about the program here.