The sales price is $231,700 however qualified Purchasers may be eligible to receive a deferred second mortgage of up to $86,700 and a forgivable third mortgage of $25,000 to ensure monthly mortgage payments are affordable. Purchaser MUST meet the gross income eligibility requirements. Deferred second mortgage accrues at 3% simple interest and matures after 30 year. The forgivable third mortgage is 0% interest, a portion is forgiven each year, over a 15 year period. Purchaser shall provide $120,000 of investment, through down payment and/or financing. Purchaser must meet the gross income eligibility requirements and be eligible for the City's Replacement Housing Program. Replacement Housing Applications are available. Home must remain single family owner occupied.
MLS ID: 1757118