City of Perth Amboy Down Payment Assistance for First-Time Homebuyers

City of Perth Amboy Down Payment Assistance for First-Time Homebuyers is a deferred second loan for homebuyers in Perth Amboy, New Jersey, administered by City of Perth Amboy Office of Housing & Social Services. The City of Perth Amboy offers Down Payment Assistance ranging from $10,000 up to $14,000 to help first-time homebuyers purchase an owner-occupied one- or two-family home located within Perth Amboy. Buyers must meet HUD low/moderate-income guidelines and complete a homebuyer education course from a HUD-certified agency. Homes built before 1978 require a lead-based paint assessment and clearance. $10,000 to $14,000 in down payment assistance. One- or two-family homes eligible. Bilingual (English/Spanish) program support. Funding comes from HUD funds (administered by City of Perth Amboy); HUD low/moderate-income guidelines apply.

City of Perth Amboy Down Payment Assistance for First-Time Homebuyers offers between $10,000 and $14,000 in assistance. Amounts are the program's published maximums, not an offer — City of Perth Amboy Office of Housing & Social Services determines any individual award.

City of Perth Amboy Down Payment Assistance for First-Time Homebuyers is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off. The assistance is recorded in Subordinate position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

City of Perth Amboy Down Payment Assistance for First-Time Homebuyers is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. On credit, the program states: Not published. A homebuyer education course is required, through Homebuyer Education Course from a HUD-certified agency. First-time homebuyers purchasing in Perth Amboy only. Must be owner-occupied. Credit score, DTI, exact income limits, purchase price cap, and recapture/forgiveness term are not published on the official city page; confirm with the Office of Housing & Social Services.

City of Perth Amboy Down Payment Assistance for First-Time Homebuyers limits household income to 80% of the area median income, which varies by county and household size. Family must meet HUD low/moderate-income guidelines for the area; specific dollar limits by household size not published on the city page. The limit applies to total household income, not only the borrower’s. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

City of Perth Amboy Down Payment Assistance for First-Time Homebuyers caps the purchase price as follows: Not published. Eligible property types include Single-family (one-family) and Two-family. Manufactured homes are not eligible.

City of Perth Amboy Down Payment Assistance for First-Time Homebuyers serves homebuyers purchasing in Perth Amboy, New Jersey. The program targets specific areas: Property must be located within the City of Perth Amboy.

Applications for City of Perth Amboy Down Payment Assistance for First-Time Homebuyers go through City of Perth Amboy Office of Housing & Social Services, which publishes the current terms and the application steps on its own site. Funds are reserved through Apply through the Office of Housing & Social Services, 1 Olive Street, 1st Floor. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.