Union County: First Time Home Buyer Program

The Union County Commissioners understand how difficult it is for first-time home purchasers to save for a down payment and closing fees.
As a result, Union County devised a down payment and closing-cost assistance program to aid qualified homebuyers. Union County offers eligible homebuyers a down payment of $10,000 or 10% of the purchase price and closing-cost assistance.

Any loan must not exceed $10,000 in the total amount. The assistance grant (loan) is an interest-free second mortgage that must be returned if the applicant refinances or sells the property.

Eligibility Guidelines:

You must be a first-time buyer of a property. All borrowers may not have owned a house in the previous three years. Borrowers and co-borrowers may not possess any other real estate or company other than the one that provides their primary source of income.

Your total annual household income must meet the Union County median income limits. (adjusted annually).

The house must be situated in Union County, and the buyer must live in and utilize the acquired property as their primary residence.
Union County allows one or two-family houses; revenue from rentals for one housing unit is permitted. The house must satisfy the Union County Affordable Housing Fund Board's minimal property upkeep requirements, which the Union County Commissioners must authorize.

You are required to be a U.S. Citizen or Resident alien.

Prospective home-buyers are required to complete homeownership counseling.

The prospective homebuyer(s) must contribute a minimum of three (3%) percent of the property's purchase price from their funds, excluding gifted funds.

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

SOURCE:

Recommended Reading
Upper Darby: First Time Homebuyers Program 
USDA Loans in PA: Homebuyer Requirements

USDA Loans PA: Income Limits 2022

If you found this information useful, please tell a friend.