The City Of Atlantic City has placed four new construction homes in a lottery system and is now offering $100,000 Down Payment Assistance Grant.
All prospective buyers must complete a lottery application to be considered.
In order to be eligible to purchase the homes, buyers have to be current Atlantic City residents and must have lived in the City for more than 5 years. Anyone, including offers we have already received, who doesn’t live in Atlantic City is not eligible to purchase.
The successful lottery winner will receive $100,000 in down payment assistance from the City of Atlantic City. There will be a forgivable mortgage associated with the down payment assistance.
The properties will sell for $300,000 and no more. If a buyer offers more than $300,000 then their contract price will still be $300,000 if they are selected in the lottery.
Visit https://www.acnj.gov/ for details and application.
Completed applications must be returned by end of business on August 19, 2024. @MattHaviland