Adams County: First Time Homebuyer Program

Everyone wants to buy a home, but doing so requires a down payment and a little additional cash for closing fees. If you're looking to buy a house in Adams County, you're in luck. The Pennsylvania Interfaith Community Programs, Inc. and Adams County Housing Authority provide low-interest loans ranging from $2,000 to $7,000 for closing expenses or down payments to qualified home purchasers.

Applicants must be first-time home purchasers with household incomes at or below the HUD low to moderate household income limits for Adams County. The applicant(s) must be US citizens or permanent residents. Prospective homebuyers must be at least 18 years old and legally capable of incurring loan commitments.

Applicants must live in the house. Investors are not permitted.
The prospective homebuyer(s) must be approved for a mortgage on the property.

Homebuyers are not permitted to hold tangible assets in excess of the lender's reserve requirement or $1200, whichever is higher. Savings accounts, checking accounts, certificates of deposit, bonds, stocks, and so on are examples of tangible assets.

Applicants must attend home-buyer education courses offered by PICPI and ACHA.

Repayment Of Assistance

Following closing, a second mortgage in the amount of the down payment will be placed on the property (or closing-costs). 1The down payment and/or closing-cost assistance loan must be paid on a monthly basis until the loan is paid off in full or the house is sold.

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

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