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New Construction Information
Program Description
This program provides a deferred loan (maximum of $5,000) to any household that buys or builds a newly constructed single-family home, townhouse, or condo in East Grand Forks. 

General Information
  • Eligibility - All households (East Grand Forks and non-East Grand Forks) are eligible.
  • Qualifications - There is no limit on the price of the new home, townhouse, or condo.
  • Income Limits - There are no household income limits. However, non-East Grand Forks households will be required to document the amount of their annual household income.

Finance Terms
The deferred loan maximum of $5,000 is forgiven after 10 years unless the applicant sells, transfers, or ceases to live in the property during the 10-year period of the agreement. If these requirements are not met, full repayment of the principal is required. Deferred loans are without interest.

Required Information / Documentation
  • Loan approval documentation, if applicable
  • Purchase agreement for a new home, townhouse, or condo or an agreement with a contractor to build a new home, townhouse, or condo

Additional Information
For more information, please call the EDA Office at (218) 773-8939, or you may print off a copy of the New Construction Opportunities Program information sheet.

City of East Grand Forks | 600 DeMers Ave. | East Grand Forks, MN 56721
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