Town & Country CU Steps Up to Help Homebuyers Affected by Floods

Minot, N.D. – There is a new homebuyer incentive program in Minot for those impacted by the 2011 flood and Town & Country Credit Union is here to help. If a resident’s home is being acquired by the Minot flood control project or if the home or apartment they lived in during the 2011 flood was significantly damaged, they could qualify for the Resilient Homebuyer Program which can help them purchase a home within the City of Minot. The Town & Country Credit Union mortgage team is here to help those who qualify access their benefits and purchase their new home. Plus, borrowers who qualify and purchase a home through Town & Country Credit Union will receive a $300 credit on their closing costs*!

Qualified buyers may be eligible for up to $60,000 to help them purchase a home. This assistance is available through the North Dakota Housing Finance Agency (NDHFA) to eligible low and moderate income (LMI) homebuyers for the purchase of an existing resale home or a newly constructed home in what the City of Minot has qualified as “resilient neighborhoods.” In short, these are neighborhoods outside the new FEMA 100-year flood plain and within the boundaries of the City of Minot.

“We know that the impacts of the flood are still rippling through the City of Minot now seven years later,” said Jeremiah Kossen, Town & Country Credit Union CEO. “As community members ourselves, we believe stepping up and offering these loans to qualifying home owners is just one small way we can help our fellow citizens continue to recover and build a more resilient Magic City.”

To determine if a resident qualifies for the Resilient Homebuyer Program, they need to contact the Minot Disaster Recovery Office managed by CDM Smith to fill out a homebuyer profile. They can be reached between 9 a.m. and 4 p.m. Monday-Friday by phone at 701-837-5813.

After the resident fills out the homebuyer profile and CDM Smith determines that they qualify for the program, they can reach out to Town & Country Credit Union for an initial meeting with our mortgage lenders. Our trained mortgage lenders – Renata, Jill and Lisa – will walk them through the Resilient Homebuyer Application, including any required income documentation, and work through the rest of the qualification process.

“We know flood recovery has already been a long, complicated process. That’s why we’re committed to working with qualifying homebuyers to make taking advantage of this incentive program and purchasing their new home as smooth as possible,” said Kossen.

For more information on the incentive program and the qualifications for participants, visit www.townandcountry.org.

To get in touch with a Town & Country Credit Union mortgage department, call 701-420-6795 or contact our executive mortgage officers online at https://www.townandcountry.org/mortgage/purchases.

Town & Country Credit Union is a member-owned financial cooperative with a mission of building trusted financial relationships through personalized service. Founded in 1939, the credit union has ten locations in North Dakota. Membership is open to anyone living within 75 miles of Minot and 50 miles of Fargo or Kenmare. More information can be found at www.townandcountry.org * Rates and loan approval are dependent on credit and underwriting factors. Terms, conditions and restrictions may apply and are subject to change. Additional qualifications apply.