Delaware county first time home buyer

You're in luck if you want to purchase a house in Delaware County!

The Delaware County Homeownership First Program assists eligible first-time home purchasers with down payment and closing-cost assistance of up to $5,000.

Nice house with a sold signThe down payment and closing-cost assistance grant is a 0% interest loan that can only be repaid when the property is sold or transferred. Borrowers' income, credit history, and accessible assets will be considered. The total amount of the assistance loan will not exceed $5,000. The down payment aid is restricted to 2% of the home's purchase price. If there are any leftover funds, they will be allocated to qualifying closing expenses.

Homes must be purchased in the following communities:
Aston Township, Bethel Township, Brookhaven Borough, Chadds Ford Township, Chester Heights Borough, Concord Township, Edgmont Township, Marple Township, Media Borough, Middletown Township, Nether Providence Township, Newtown Township, Radnor Township, Rose Valley Borough, Springfield Township, Swarthmore Borough, Thornbury Township, Upper Chichester Township, and Upper Providence Township

Eligible Properties include single-family houses (detached, twin, row house, townhouse, or condominium) which are in compliance with Delaware County housing quality standards.

Special conditions apply to renter occupied properties, duplexes, and properties that are located in and pay property taxes to Chester City, Haverford Township or Upper Darby Township.

Applicants must be 18 years of age or older and have not owned property (or had a deed in your name) for three (3) years prior to the date of application. Displaced homemakers may also qualify.

home-buyers must contribute at least $1,000 towards the purchase of the home.

Household income must be at or below 80% of the median family income for Delaware County. See income limit chart

Prospective homebuyers are not permitted to sign a sales agreement for any property unless they have completed group and individual counseling. Home-buyer education and counseling comprise a minimum of eight (8) hours of group homeownership counseling and one individual therapy session. After the prospective homebuyer(s) successfully completes all items on their Action Plan, a Certificate of Achievement will be given to the applicant.

Applicants are required to obtain a first mortgage from a reputable lender. First mortgages must be 30-year fixed, at or below market interest-rate, with at least a 5% down payment.

The maximum sales price is $218,000

Credit counseling & First Time Home Buyer Classes in Delaware County PA