New 4-bedroom construction for sale by the City! This home was constructed in partnership with Western Technical College. The actual sales price is $267,000 however qualified Purchasers may be eligible to receive a deferred second mortgage of up to $122,000 and a forgivable third mortgage of $25,000 to help make monthly mortgage payments affordable. The deferred 2nd mortgage accrues at 3% simple interest; monthly payments are not required and the loan matures after 30 years. The forgivable 3rd mortgage is 0% interest. Purchaser shall have financing of at least $120,000 and must meet the gross income eligibility requirements and be eligible for the City's Replacement Housing Program. Home must remain single family owner occupied. First round of applications are due on Tuesday, Oct. 25th.