The Montgomery County Home Buyers Program, established and administered by the Commissioners and the Department of Housing & Community Development, is directed to assist low, moderate, and median income households interested in purchasing a home in Montgomery County.

Home buyers who are employed full time within Montgomery County at the time of the program application and closing are also eligible! Nice!

Eligible participants may receive assistance with closing costs up to 8% of the sales price, and if your income is below 80% of the median income (sse below), the county will chip in an additional 2% toward the down payment for a total assistance of 10% of the sales price.

The loan is repaid if the home is sold or transferred within the first 8 years. You can refinance your first loan without paying off the closing cost assistance loan. The loan amount is based on financial needs of applicant. And here’s the best part, zero percent (0%) interest rate! The loan remains in effect for 8 years.

One member would be a single home buyer, 2 members (husband and wife, parent and child, 2 partners, etc.) 3 members, parents with one child, etc.

Income is based on anticipated household income for the 12-month period following the date of settlement.

Everyone's income who will reside in the home should be included in this part even if they are not related to the head of the household. In other words, if granma will live with you, granma's social security and/or pension must be included. Even if granma is not one of the buyers.

The minimum cash requirements from the program participants is:

1. Three percent (3%) of the sales price towards the down payment is required.
2. Two months’ mortgage payments in the bank in addition to the 3% down payment.
3. Applicants must use their own liquid assets and may receive a matching gift up to 3% prior to home buyer funds.
4. Assistance is not available if applicant has 10% or more of the sales price to put towards purchase.

The following investments are not considered in the 10% limit:

• Ira's
• 401K's
• Roths

Assistance amount is based on the selling price, liquid assets, closing costs, mortgage amount, and other fees paid in the acquisition of the property.

The maximum sales price is determined by the applicant's income, monthly debt, etc.

Grant amount is based on the financial need of the applicant’s household, selling price of property, and household assets.  Assistance up to a maximum of 10% of the estimated affordable sales price for participants.  Interest rate of zero percent (0%).
Repayment only if:

• Home is sold, conveyed, granted or otherwise transferred.
• Vacated or abandoned as a primary residence within 8 years from the date of purchase of the property.
• Used as investment or income producing property.
• The loan is forgiven after 8 years

The funds are available to all qualified applicants on a first come, first serve basis. The Housing Programs Manager administers the Program through the Department of Housing & Community Development. Any eligible household interested in participating in the program must be income and loan eligible PRIOR to entering into an agreement of sale (or putting a deposit on a property). There is a $25.00 non-refundable fee payable at the time of application.

Complete the Montgomery County Home Buyers Program Application below and meet with the Montgomery County councilor, PRIOR to signing a sales contract. You are required to have a one on one counseling session. Once again, the counseling session must be completed PRIOR to buying a home!

For more information, call (610) 278-3540.

Source: Montgomery County Department of Housing & Community Development

Montgomery County Home Buyers Program Application

As of 2010, the population was 801,543, making it the third most populous county in Pennsylvania (after Philadelphia and Allegheny counties).

As of the census of 2000, there were 750,097 people, 286,098 households, and 197,693 families residing in the county

The median income for a household in the county was $60,829, and the median income for a family was $72,183

Demographics Courtesy of Wikipedia®. You will be redirected to the Wikipedia® web site
Montgomery County
Abington Township
Ambler
Bridgeport
Bryn Athyn (official name remains "Borough of Bryn Athyn")
Cheltenham Township
Collegeville
Conshohocken
Douglass Township
East Greenville
East Norriton Township
Franconia Township
Green Lane
Hatboro
Hatfield
Hatfield Township
Horsham Township
Jenkintown
Lansdale
Limerick Township
Lower Frederick Township
Lower Gwynedd Township
Lower Merion Township
Lower Moreland Township
Lower Pottsgrove Township
Lower Providence Township
Lower Salford Township
Marlborough Township
Montgomery Township
Narberth
New Hanover Township
Norristown
North Wales
Pennsburg
Perkiomen Township
Plymouth Township
Pottstown
Red Hill
Rockledge
Royersford
Salford Township
Schwenksville
Skippack Township
Souderton
Springfield Township
Telford (lies partly in Bucks County)
Towamencin Township
Trappe
Upper Dublin Township
Upper Frederick Township
Upper Gwynedd Township
Upper Hanover Township
Upper Merion Township
Upper Moreland Township
Upper Pottsgrove Township
Upper Providence Township
Upper Salford Township
West Conshohocken
West Norriton Township
West Pottsgrove Township
Whitemarsh Township
Whitpain Township
Worcester Township