Program Eligibility

Open to first time homebuyers or persons who have no homeownership interest in a property at the time of loan approval
Must qualify to purchase property by permanent fixed-rate mortgage through a MHC approved lender
Lender may take value of grant into consideration when approving applicant for mortgage
Household income below 80% of median income adjusted for family size
Must be US citizen or qualified registered alien who has obtained a social security card
Homebuyer education through HUD-approved housing counselor is required. If married, both spouses must attend a home buyer education class regardless if only one spouse will be on the mortgage loan.
Purchase Price Limit - $150,000
Cannot exceed 29/41 Debt to Income Ratio

Must be located in eligible area
Must serve as primary residence
Only site-built, single family homes, condos and town homes qualify
New construction property must be complete
Must pass Historical review
If built prior to 1978, property must undergo Lead-based Paint inspection and test and, if found, must be mitigated
Property cannot be located in a flood zone