The First Home Program provides a qualified borrower with a 30-year fixed rate first mortgage (FHA, USDA-RD or VA loan only) and forgivable down payment and closing cost assistance.

ELIGIBILITY CRITERIA* –
1. Buyers (and spouse if applicable) must be first-time buyers.
2. All applicants must be considered irrespective of age, race, color, religion, national origin, sex, marital status, military status or physical handicap.
3. Buyers must occupy the property purchased within 60 days of closing.
4. Buyers must live in the property as their principal residence and the property may never be rented.
*Speak with a participating lender for details.

DOWN PAYMENT ASSISTANCE
0.00% Interest, deferred, 5-year forgivable second mortgage, in an amount of 3.5% of the total Note Amount (maximum $17,882). The assistance may be used for down payment and closing cost. The assistance will be due if the first mortgage is prepaid, refinanced, borrower no longer occupies as their principal residence or if the borrower sells, transfers or otherwise disposes of the property, including foreclosure, before the end of the 5-year period.

INCOME LIMIT CRITERIA
Include income for the buyer (and spouse if applicable) and anyone 18 years of age or older who will live in the property.

Non-Targeted Areas
1-2 person households $97,877
3 or more person households $112,559

Targeted Areas
1-2 person households $108,360
3 or more person households $126,420

MAXIMUM SALES PRICE LIMIT – This price must include everything paid by the buyer or on the buyer's behalf.
Non-Target Areas $544,232
Targeted Areas $665,173

HOMEBUYER EDUCATION
All buyers (any person on title to the property) must attend an approved homebuyer education course. A non-occupant co-signer does not need to attend. Homebuyer education must be conducted PRE-CLOSING and by HUD-approved counseling agencies including online HUD-approved non-profits using eHomeAmerica (Neighborworks based curriculum).