The city of Newark kicked off a five-day homebuyer event on Friday.

The event’s purpose is to help low-and-moderate income homebuyers get access to affordable mortgages.

People were able to apply for mortgages with no down payment or fees with the help of the Neighborhood Assistance Corporation of America.

“Only one in four people in this city own a home,” said Newark Mayor Ras Baraka. “The wealth gap in NJ is overwhelming and it is driven by home ownership so it’s incredibly important to get homes into people's hands."

Homebuyers can attend the event ever day until Tuesday from 8 a.m. to 8 p.m.