The Middlesex County Division of Housing, Community Development & Social Services will award $5,000 in downpayment and closing cost assistance to income eligible first time homebuyers under the US Dept. of Housing and Urban Development (HUD) HOME Investment Partnerships Program.
Basic Program Requirements
1. Applicants must be first time homebuyers and existing Middlesex County residents for a period of at least one year.
2. Applicants must complete an in person, group homebuyer training course offered by a HUD approved housing counseling agency. The class must be completed prior to closing.
3. Applicants are required to undergo budget review and individualized counseling as part of their application process. Appointments and application documents can only be obtained through one of the below HUD approved housing counseling agencies:
• Puerto Rican Action Board - Housing Coalition Unit – Phone (732) 249-9700
4. Applicants can only purchase a single family property. Eligible properties are detached homes, townhouses, condos, and co-ops. The purchase price of the property cannot exceed four times the certified income level of the household, with an overall maximum of $304,000.
5. Applicants must have a mortgage pre-approval issued within the past 2 months.
6. Applicant must purchase their single family housing in any Middlesex County municipality except New Brunswick and Perth Amboy (which are not in the HUD jurisdiction for this particular program.)
7. Total household income can not exceed the following limits:
One-person - $48,800 Five-person - $75,300
Two-person - $55,800 Six-person - $80,900
Three-person - $62,750 Seven-person - $86,450
Four-person - $69,700 Eight-person - $92,050
8. The property being purchased must meet HUD’s Housing Quality Standards and must also be certified free of lead based paint hazards if built prior to 1978.
9. Applicant must be putting down at least 1% of the purchase price from their own funds.
10. Any co-signers of the primary mortgage must also be occupiers of the property being purchased.
11. Assistance will be in the form of a deferred repayment mortgage, which doesn’t require payment of principal or interest by the homebuyers provided they own and live in the property for five years.
For additional information on the program, please contact Melissa Bellamy
Middlesex County Division of Housing, Community Development & Social Services