York City Homebuyer Assistance Program (HOME)

York City Homebuyer Assistance Program (HOME) is a forgivable loan for homebuyers in York, Pennsylvania, administered by City of York Bureau of Housing Services; administered by Tenfold Community Lending. The City of York's Bureau of Housing Services provides down payment and closing-cost assistance to income-eligible first-time homebuyers purchasing a home in York City, funded through HUD HOME dollars (the '3/2 Program') and administered by Tenfold Community Lending. Assistance is a 0% interest, no-monthly-payment second-mortgage loan tiered by sale price (6% up to $10,000 for homes over $60,000). The loan is prorated and forgiven over five years and becomes repayable if the home is sold, transferred, or no longer the buyer's primary residence within that period. 0% interest, no monthly payments. Up to $10,000 (6% of sale price for homes over $60,000). Forgiven over 5 years. Down payment and closing-cost assistance. Homebuyer counseling and education included. Funding comes from HUD HOME Investment Partnerships Program funds (City of York).

York City Homebuyer Assistance Program (HOME) offers up to $10,000 in assistance. The program asks homebuyers to contribute 1% of purchase price or $1,000, whichever is greater. The program can be combined with other assistance, subject to the rules of each. Amounts are the program's published maximums, not an offer — City of York Bureau of Housing Services; administered by Tenfold Community Lending determines any individual award.

York City Homebuyer Assistance Program (HOME) is forgiven after 5 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Prorated loan repayment due upon sale or transfer, or if the borrower ceases to occupy as primary residence within five years (forgiven over the five-year term). The assistance is recorded in Second mortgage lien position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

York City Homebuyer Assistance Program (HOME) is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time" has exceptions here: Not owned a home within the last 3 years; previously jointly-owned home with a former spouse (now divorced) permitted if removed from deed and released. On credit, the program states: Minimum middle credit score of 620; case-by-case exceptions; no-credit-score buyers need 3 open trade lines with 12-month satisfactory history. A homebuyer education course is required, through HUD-approved Homebuyer Education Course administered by Tenfold; individual pre-settlement counseling required. Citizenship or immigration status: U.S. citizens, permanent resident aliens, or non-permanent resident aliens with a valid SSN eligible to work and meeting a 5-year clearance date from settlement. HUD-approved homebuyer education and individual counseling required before settlement; Sales Agreement must include an executed YHAP Addendum; cash reserve after closing no more than $7,500 and no less than one month's PITI.

York City Homebuyer Assistance Program (HOME) limits household income to $84,100. 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.

York City Homebuyer Assistance Program (HOME) caps the purchase price at $236,000. Eligible property types include Single Family and Manufactured. New construction is eligible. Manufactured homes are eligible.

York City Homebuyer Assistance Program (HOME) serves homebuyers purchasing in York, Pennsylvania.

Applications for York City Homebuyer Assistance Program (HOME) go through City of York Bureau of Housing Services; administered by Tenfold Community Lending, which publishes the current terms and the application steps on its own site. 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.