York City Homebuyer Assistance Program (HOME)

What is 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.
• This is a federal program, so it is available beyond a single state or city.
• Funding comes from HUD HOME Investment Partnerships Program funds (City of York).

How much assistance does it provide?

York City Homebuyer Assistance Program (HOME) offers up to $10,000 in assistance.

• The program asks buyers 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.

Do you have to pay it back?

York City Homebuyer Assistance Program (HOME) is forgiven after 5 years, so a buyer 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.

Who qualifies?

York City Homebuyer Assistance Program (HOME) is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

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.

What kind of home can it be used for?

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.

Where does it apply?

York City Homebuyer Assistance Program (HOME) is a federal program, so it is not limited to Pennsylvania.

How do you apply?

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.

1. 1

   Take a homebuyer education course

   Required by the program, through HUD-approved Homebuyer Education Course administered by Tenfold; individual pre-settlement counseling required.

2. 2

   Contact City of York Bureau of Housing Services; administered by Tenfold Community Lending to reserve funds

   Funds are reserved with the provider and are subject to availability.

3. 3

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.