I’ve been getting so many calls and email regarding my previous posts about the grant program I thought I would compile the information on my previous posts into one blog entry… Of course if you have any additional questions contact me.

The Atlantic County Grant Program for first time home buyers has money available now.  This is a great program for first time home buyers in Atlantic County, NJ. 

The grant through The Atlantic County Improvement Authority (ACIA) provides up to $20,000 for first time home buyers to cover down payment and closing costs.  First time home buyers are buyers who have not owned a primary residence in the last three years.

Here is a list of communities that qualify for the grant money:

Galloway, NJ

Absecon, NJ

Egg Harbor City, NJ

Pleasantville, NJ

Mullica Township, NJ

Hammonton, NJ

Egg Harbor Township, NJ

Hamilton Township, Mays Landing, NJ

Northfield, NJ

Linwood, NJ

Somers Point, NJ

Brigantine, NJ

Ventnor, NJ

Margate, NJ

Longport, NJ

Estell Manor, NJ

Beuna, NJ

*Atlantic City, NJ Has a seperate grant program with up to $30,000 in grant money.

To Qualify For The First Time Home Buyer Grant You Must:

* Have resided in Atlantic County for the last 12 months or are employed in Atlantic County * Have not owned a home in the last three years.

* Have acceptable credit history and be able to obtain a mortgage.

* Have incomes below 80% of median income (effective February 13th, 2009)

Number of household members:               80% of Median income

               1                                                $38,300

               2                                                $43,750

               3                                                $49,250

               4                                                $54,700

               5                                                $59,100

               6                                                $63,450

               7                                                $67,850

               8                                                $72,200

* Please note the median income amounts are based on the 2008 numbers.  I’m waiting to get updated 2010 numbers and will update this post when I receive them.

Eligible Properties:

1. Single family residences in Atlantic County excluding Atlantic City.

2. Sale price can’t exceed $200,000.

3. Property must meet all requirements for an approved mortgage.

The program is designed to help pay closing costs and down payment up to $20,000. These funds will be forgiven after 5 or 10 years. Funds are limited and may not be guaranteed if funds are low.

If you or someone you know would like to take advantage of this opportunity before the money is gone. Please contact me immediately at 609-484-9890 ext. 132.

Best wishes,

Matt

Your Trusted Real Estate Expert For Life