The sales price is $159,300 however qualified Purchasers may receive a deferred second mortgage of up to $54,300 to ensure monthly mortgage payments are affordable. Deferred mortgages accrue at 3% simple interest per annum, interest will cease to accrue when it reaches half of the principal value and matures after 30 years. Purchaser shall provide $105,000 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. Please refer to the Replacement Housing Application for a full list of eligibility requirements. Home must remain single family owner occupied. The home features custom-made cabinets, engineered hardwood floors, 2 egress windows & stubbed plumbing in the basement.
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