Up to $7, 000 in a 0% interest loan is available to qualified applicants, to be used for down payment and closing costs in buying a home. Payments may be deferred for up to 20 years as long as you own and occupy the home. The borrower must invest at least one half of the required down payment (one half of the difference between the sales price and the first mortgage loan amount). Gift funds for the borrower investment are allowed.