The Wahpeton HELP Fund offers many attractive features, including down payment and closing financial assistance; low cost, sometimes free, replacement of existing lot water and sewer lines; combination of grant and long term/low interest rate financing on new lot specials; 2 year property tax exemption; and City/Employer cash match grants.
HELP is targeted towards encouraging affordable new housing starts and helping you, the Wahpeton home buyer.
- New subdivisions with lots zoned as R-1c or
- Single lot, as approved, or
- Existing lot in subdivisions platted prior to 1947 or
- Townhouse/Twin Home lot with single unit ownership and
- Owner occupied
- New construction
- Wahpeton city limits
- One incentive package per household.
*R-1cZoning provides for a single family dwelling with a maximum main floor living space of 1,100sq.ft., a minimum lot width of 50' and a minimum lot area of 5,000sq.ft.
|Direct Cash Matches:|
|Up to $1,000 grant to you as a local employee ($500 City plus $500 employer) when you purchase a new HELP home.Ask your Employer|
|Property Tax Exemptions:|
|Two-year property tax exemption on the first $75,000 of your home's appraised value, worth approximately $3,500.|
|Special Assessment Savings:|
|R-1c Zoning/new lots:|
Costs for engineering, bonding, construction interest, etc., will be covered by the City. Balance of assessments will be spread over 25 years at 6% interest.
The City will replace old water and sewer service lines from the main to the property line for lots platted prior to 1947.
|Each approach is worth approximately $2,000 in up front savings.|
|Zero Interest Loans:|
|Short term financing is also available:|
Maximum loan amount -- $5,000Interest Rate - 0%Maximum term - 5 yearsCombination of first mortgage and the loan cannot exceed 100% of purchase price exclusive of MIP.
This flexible financing may be used for any combination of these eligible uses:
Down PaymentClosing costsDemolition