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The City of Fulton’s new ‘Home to Grow’ program is a new program to help first time homebuyers secure up to $20,000 toward the purchase of their first home, it was announced by Sarah Farley, executive director, Fulton Community Development Agency, CDA).
“We’re extremely excited to announce that grant funds are available through this program to help cover down payment and closing costs for income-eligible home buyers,” Farley said. “Funding is based on each buyer’s financial need and homes to be purchased must be existing one-family homes costing less than $171,000 within the City of Fulton. New construction homes are eligible only after all construction is complete. In addition, applicants must qualify for a conventional mortgage through a participating bank, credit union of mortgage company and provide cash to contribute a minimum of one percent of the purchase price as their down payment.”
Once the CDA determines an applicant to be eligible, they will be able to enter a purchase contract for a suitable home and seek an affordable mortgage from a local or regional lender.
“It’s just one more way we are helping families get into their first home and grow our neighborhoods,” said Mayor Deana Michaels. We are always looking for programs and services that make home ownership easier and viable in our city.”
In addition, Fulton CDA housing counselors are partnering with local insurance agent Janet Lake, State Farm, to offer a free Homebuyer Financial Workshop at 7:00 p.m., Thursday, Oct. 13, at 501-1/2 S. 2nd St., Fulton. Grant applicants are highly encouraged to attend to receive more details about the program, Farley said. To register, email fultonhousing@fultoncda.com with name, address, and phone number stating that you are requesting to register for the Homebuyer workshop. Registration is also available by phone at 315-593-7166, opt. 3.
