The Atlantic County Improvement Authority (ACIA) has a program to help home buyers with down payment and closing costs.
To Qualify 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, 2008)
Number of household members: 80% of Median income
- Single family residences in Atlantic County excluding Atlantic City.
- Sale price can't exceed $200,000.
- 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 garanteed if funds are low.
Contact me at 609-916-7342 ext 704 for more details on this program and other down payment grant and assistance programs. Or contact Annie Reid at the Atlantic County Improvement Authority at 609-645-5838.