Homebuyers Assistance Program (HAP)

Homebuyers Assistance Program (HAP) is a forgivable loan for homebuyers in Chester, Pennsylvania. City of Chester (Delaware County) HOME/CDBG-funded FTHB DPA. Up to $10,000 down payment + $5,000 closing cost assistance as 0% forgivable soft second forgiven at 5 years. Chester city limits, FTHB, 80% AMI, mandatory counseling. Chester Economic Development Authority (CEDA) Homebuyers Assistance Program (HAP) provides HUD HOME and CDBG-funded down payment and closing cost assistance up to $10,000 (down payment) and $5,000 (closing costs) to qualifying first-time homebuyers purchasing in the City of Chester PA (Delaware County). The DPA is a 0% interest deferred forgivable second mortgage forgiven at 5 years per HUD HOME affordability rules. Pairs with FHA, VA, USDA, or Conventional first mortgage. Income range $62,500-$117,850 reflects approximately 80% AMI for Chester city/Delaware County area. NOTE: City of Chester is in DELAWARE COUNTY (not Chester County). Funding comes from Federal, HOME, and CDBG.

Homebuyers Assistance Program (HAP) is forgiven after 5 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by 5-year HUD HOME affordability period. If property is sold/refi/transferred or borrower vacates within 5 years, unforgiven balance due in full. Forgiven at 5 years of continuous owner-occupancy. The assistance is recorded in 2nd Lien position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Homebuyers Assistance Program (HAP) is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time" has exceptions here: First-time homebuyer required (no ownership in past 3 years), with HUD HOME exceptions for displaced homemakers and single parents. On credit, the program states: Per first-mortgage product (typically 620-640 minimum). A homebuyer education course is required, through HUD-approved homebuyer counseling agencies including Diversified Community Services and other regional HUD-approved providers. Residency requirement: Property must be located in the City of Chester (Delaware County PA) and used as borrower's primary residence. Citizenship or immigration status: U.S. citizen, permanent resident, or qualifying non-permanent resident alien per first-mortgage product and HUD HOME rules. Property must be located within the City of Chester (Delaware County PA). First-time homebuyer required (no ownership in past 3 years). Income at or below 80% AMI for Chester city/Delaware County (range $62,500-$117,850 1p-8p). Borrower must complete pre-purchase homebuyer counseling at HUD-approved agency. Property must be borrower's primary residence. Soft second forgiven at 5 years of continuous owner-occupancy per HUD HOME rules. NOTE: City of Chester is in DELAWARE COUNTY, not Chester County.

Homebuyers Assistance Program (HAP) limits household income to 80% of the area median income, which varies by county and household size. Income range $62,500-$117,850 reflects approximately 80% AMI for Chester city/Delaware County area for household sizes 1-8. The limit applies to total household income, not only the borrower’s. The program lists a maximum household size of 8. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Homebuyers Assistance Program (HAP) caps the purchase price as follows: Per HUD HOME 95% area median sales price for Delaware County and first-mortgage loan limits. Eligible property types include 1- to 2-unit owner-occupied primary residence (single-family detached, duplex, townhouse). New construction is eligible. Manufactured homes are not eligible.

Homebuyers Assistance Program (HAP) names veterans, active-duty service members, reservists and National Guard members, and surviving spouses among the groups it serves. Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

Homebuyers Assistance Program (HAP) serves homebuyers purchasing in Chester, Pennsylvania. The program targets specific areas: City of Chester is a HUD-designated low-income community with concentrated CDBG/HOME investment. CEDA prioritizes neighborhood revitalization corridors within Chester.

Applications for Homebuyers Assistance Program (HAP) go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through Apply directly to CEDA. Funds reserved on first-come, first-served basis subject to allocation. 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.