Washington County Homebuyer Assistance Program

The Redevelopment Authority of the County of Washington has introduced the Homebuyer Assistance Program to help potential, first-time homebuyers by providing financial assistance for the purchase and rehabilitation of eligible housing units. 

Eligibility Requirements 
The first-time homebuyer must not have owned a housing unit within the past 3 years unless she/he is a displaced homemaker. Homebuyers must have the financial capability to provide cash payment of 3% of the purchase price of the housing unit for the purchase. Moderate income homebuyers must have the financial capability to obtain an 80% mortgage from a participating lending institution. Low-income homebuyers must have the financial capability to obtain a 71% loan from a participating lending institution. Homebuyers must successfully complete the pre-purchase counseling class. The house purchased must be occupied as the primary residence and the value after rehabilitation must not exceed $164,000. 

Income Limits  
1-person household: $47,500 
2-person household: $54,300  
3-person household: $61,100  
4 -person household: $67,850  
5-person household: $73,300 
6-person household: $78.750  

  
*Seller-funded down payment programs were eliminated in the Housing and Economic Recovery Act of 2008, but states and local government agencies are still permitted to help borrowers finance their homes with second mortgages and grants. These agencies set different requirements that a borrower needs to meet in order to qualify for the grant programs, such as property location, and purchase price, and income limits.          

Note: All figures mentioned above were accurate at the time of publication and may no longer be current. Visit the program website for updated information.