Down Payment Assistance Program This is only for existing buildings, not for a person building a new home. It also does not apply to mobile homes. The home must be within the city limits of Gaylord. The economic authority accepts applications on a monthly basis and the board approves them once a month. Business Loans: Revolving loan fund information for homes and businesses. The Economic Development Authority (EDA) advises the city council regarding economic development, housing, and redevelopment matters, and exercises certain powers as authorized by the council.