Pilot home ownership programs officially launched in Dickinson County March 6, in Ottawa County April 28 and in Republic County April 29. The program provides a combination of down payment loans and closing cost grants to eligible buyers. Funds are limited and available on a first come, first served basis.
Primary objectives of the pilot program are to reduce the number of homes on the market, be a catalyst for first time home buyers, benefit employers in recruiting and retaining employees, and attract alumni back to the region to work, start/buy a business, or retire. The program is made possible through a partnership of local banks, businesses and charitable foundations. The NCRPC is administering the program.
“We are pleased to bring the pilot program to these counties,” Debra Peters, Program Manager, said. “It offers an opportunity to make home buying a reality for individuals and families, particularly in these challenging times.”
Similar pilot programs have been completed in Cloud, Ellsworth, Lincoln and Mitchell Counties. Since first launching in 2018, home ownership programs in the region have combined to assist in the purchase of 33 homes at an approximate value of $4.6 million. Results of the pilot programs will be used to develop a permanent regional home ownership program sometime in the future.
To learn more about the pilot program in Dickinson, Ottawa or Republic County, contact your local bank or realtor or visit www.ncrpc.org/services/homeownership.
This article appeared in the May 2020 NCRPC Newsletter.