Waterloo Times

Waterloo Community Development, an organization founded to help increase access to housing and resources within the Waterloo community, is now accepting applications for its 2020-2021 Homebuyer Assistance Program, according to a city press release.

The Homebuyer Assistance Program was created to help low-to-moderate income families gain access to crucial funding that they need to help offset closing costs and real estate fees associated with purchasing a home. 

The initiative, which has been running for several years, provides up to $10,000 in grants per family to help increase access to affordable housing for disadvantaged families. Though the program has helped dozens of families already, approval is granted on a first-come, first-serve basis and grants are limited. The grants are provided in a loan format with 0% interest and deferred payments. 

To be eligible for the grant, recipients must be able to contribute at least $1,000 to the closing of the home. Any fees associated with realtors and closing can be applied to the minimum contribution that each recipient provides. To learn more about the Waterloo Homebuyer Assistance Program, click here.