521 4th Avenue South, Grand Forks
$185,000 + up to $60,000 in down payment/closing cost subsidy available to qualified buyers, depending on income (details below).
GFCLT is Reviewing Applications Now!
Now Available through GFCLT! This 2 Bed, 1.5 Bath Twin-home was built in 2016 in Grand Forks’ Historic Near South Neighborhood. With beautiful finishes, spacious bedrooms and walk-in closets, and a large, fenced yard, 521 4th Ave S is the perfect home to start your homeownership journey through GFCLT! Maximize the potential of this home by finishing the basement, which has an egress window, rough-in for an additional bathroom, and laundry hook-ups.
How does GFCLT and our subsidy work?
All buyers must earn under 120% area median income ($87,675 for an individual, $125,175 for a Family of 4). Buyers earning under 80% area median income can qualify for additional subsidy of up to $60,000, with the specific amount determined based on household income. 80% AMI is $58,450 for an individual, $83,450 for a family of 4. Additional eligibility information can be found on our website: https://www.gfclt.org/prospective-buyers.html
Submit your pre-application today at GFCLT.org/apply!
Prospects earning under 80% area median income are encouraged to apply if you have pre-qualified for a mortgage of at least $130,000, though pre-qualification does not guarantee eligibility for a GFCLT home.
GFCLT makes our homes affordable through a shared-equity resale formula. GFCLT homeowners purchase the home’s structure and improvements to the property, while the CLT retains ownership of the land. CLT homeowners agree to share appreciation with the CLT when they sell in the future, allowing GFCLT to keep our homes affordable for future generations. GFCLT homeowners receive approximately 25% of their homes appreciation at resale, plus all of the mortgage principal they’ve paid down during ownership. Additional information can be found in our website, or by sending us a message with questions.
Working with a Realtor? GFCLT will pay 3% commission to Buyer’s representative at closing.
Now Available through GFCLT! This 2 Bed, 1.5 Bath Twin-home was built in 2016 in Grand Forks’ Historic Near South Neighborhood. With beautiful finishes, spacious bedrooms and walk-in closets, and a large, fenced yard, 521 4th Ave S is the perfect home to start your homeownership journey through GFCLT! Maximize the potential of this home by finishing the basement, which has an egress window, rough-in for an additional bathroom, and laundry hook-ups.
How does GFCLT and our subsidy work?
All buyers must earn under 120% area median income ($87,675 for an individual, $125,175 for a Family of 4). Buyers earning under 80% area median income can qualify for additional subsidy of up to $60,000, with the specific amount determined based on household income. 80% AMI is $58,450 for an individual, $83,450 for a family of 4. Additional eligibility information can be found on our website: https://www.gfclt.org/prospective-buyers.html
Submit your pre-application today at GFCLT.org/apply!
Prospects earning under 80% area median income are encouraged to apply if you have pre-qualified for a mortgage of at least $130,000, though pre-qualification does not guarantee eligibility for a GFCLT home.
GFCLT makes our homes affordable through a shared-equity resale formula. GFCLT homeowners purchase the home’s structure and improvements to the property, while the CLT retains ownership of the land. CLT homeowners agree to share appreciation with the CLT when they sell in the future, allowing GFCLT to keep our homes affordable for future generations. GFCLT homeowners receive approximately 25% of their homes appreciation at resale, plus all of the mortgage principal they’ve paid down during ownership. Additional information can be found in our website, or by sending us a message with questions.
Working with a Realtor? GFCLT will pay 3% commission to Buyer’s representative at closing.
Ready to Apply? Click below to submit your online pre-application and save your spot on the waiting list!