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WDAZ: Your Home Team

Published April 29, 2013, 08:59 PM

Grand Forks makes purchasing a home easier for future homeowners

The City of Grand Forks is making it easier for future home buyers to purchase a home. The Down Payment and Closing Cost Assistance program will provide no-interest, no-payment deferred loans of up to 10,000 dollars for income-eligible buyers.

The City of Grand Forks is making it easier for future home buyers to purchase a home. The Down Payment and Closing Cost Assistance program will provide no-interest, no-payment deferred loans of up to 10,000 dollars for income-eligible buyers.

The new program is similar to the "American Dream" program, but it's "beefed up a little bit." Half the minimum down payment as well as closing costs are taken care of with the program.

Andrea Laraway, Community Betterment Specialist: "It's a great program to kind of get those people who are renting that could afford the mortgage payment but can't afford the up front costs to get that foot in the door so it kind of helps them move forward and get in the right direction with home ownership and things like that."

City council authorized 420,000 dollars for the program which begins May 1st.

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