This program is designed to assist low and moderate income households in Fargo with down payment and closing costs to purchase a home. The assistance from the Fargo Home Buyer Assistance Program is in the form of a zero interest deferred payment loan. The persons to receive assistance must attend a home buyer education program that is approved by the City of Fargo prior to making an offer to purchase a home. The gross annual income of all household members must be below the HUD limits outlined below.
Income is based on projected income.
Household size includes all members living in the household and does not include anticipated births or adoptions. The income limits are subject to change. Cash assets do not include Individual Retirement Accounts or other similar retirement investments to which access is limited or restricted. The property must be in the City of Fargo. Eligible properties are existing or newly constructed, one-unit, single family residences, including condominiums and manufactured homes permanently attached to real property.