First & New Home incentive for first-time homebuyers.
The City of Moorhead has a CITYWIDE housing program for first time homebuyers purchasing newly constructed homes. $500,000 is now available to make homeownership and special assessments more affordable for first time buyers of new homes! When combined with new down payment options available through Minnesota Housing, the Make Moorhead Home 2-year Property Tax Rebate, and historically low interest rates, homeownership in Moorhead is even more affordable. The First & New Program is available for buyers purchasing homes on or after April 9, 2013 and while resources last.
- $5,000 deferred 0% loan (no monthly payments)
- First time buyers; no income or purchase price limits
- New construction (first occupant)
- Funds applied to special assessments (the primary local improvements (i.e. curb, gutter & paving and sewer & water services))
- Approximate monthly savings $46/annual savings $550
- Loan repayable when owner sells or moves from the home (not assumable)