City moving forward with down payment assistance program

WARREN — The city of Warren is moving forward with a program that could help homebuyers with a down payment.

At its Jan. 27 meeting, the Warren City Council agreed to be involved in a process by the vendor — National Faith Home Buyers — as they work to create a website that will be used for homebuyers to apply for assistance.

“I think it’s important for there to be periodic check-ins for us to be updated on (the program),” City Council Secretary Mindy Moore said at the meeting.

Moore said whenever the vendor has an update, they will hold a meeting with Councilman Johnathan Lafferty, Council President Angela Rogensues or Moore, depending on who’s available.

The program was first discussed at the City Council’s Dec. 16 meeting. The program will use $5 million in American Rescue Plan Act funds awarded to the city to help residents repair their homes or receive income-based assistance toward a down payment on a new home.

Qualified homeowners could receive up to $25,000 for repairs under the proposal. Homebuyers can also receive up to $25,000, Moore said at the Dec. 16 meeting, and oftentimes lenders will contribute up to $10,000, Lafferty added, because of the Community Reinvestment Act.

Some of the requirements to qualify for the grant would include making sure the buyer is able to make the payments once the house is purchased. They might also be required to attend training on topics such as budgeting and maintenance, Moore said.

Council members voted unanimously at the Dec. 16 meeting to approve the request. Additionally, they also voted unanimously to approve the program for a two-year period, with the option to extend it to four years.

Moore said National Faith Home Buyers would handle the administration of the program. She said she does not currently know when the program would become available.