516 Caledonia St

Newly constructed home for sale by the City! The sale price is $295,000 however qualified Purchasers will be eligible to receive a deferred 2nd mortgage of up to $107,750 and a forgivable 3rd mortgage of $25,000 to help make monthly mortgage payments affordable. The deferred 2nd mortgage accrues at 3 simple interest capping at half of principal; monthly payments are not required until the first mortgage is paid off. The forgivable 3rd mortgage is 0 interest, forgiven over 15 years. Purchaser shall have financing of at least $162,250 and must meet the gross income eligibility requirements to be eligible for the City's Program. Must remain single family owner occupied. First round of applications are due by 10/15/25.