Chester County First Time Home Buyer Program

The Housing Partnership of Chester County (HPCC) offers low-moderate income individuals and families the First Time Home Buyer Program to assist them in buying a new home within Chester County. The Program provides pre-purchase home ownership counseling and a loan for down payment and closing costs to first time buyers. 

Available Assistance 
The assistance comes in the form of a zero-interest loan. The loan amount, which is based on financial needs of applicant, cannot exceed $10,000 for purchase of a home in Chester County, or $20,000 for purchase of a home in the City of Coatesville. 

Eligibility Requirements 
All applicants must  

• Be 18  years of age or older. 
• Have a total gross household income at or below 80% of the median income, adjusted for household size. Liquid assets of borrower after closing cannot exceed $15,000. 
• Intend to occupy the property being purchased as a primary residence. 
• Be able to secure a 30 year, fixed rate mortgage from a local lending institution. 
• Not have owned a home in the last 3 years or be a displaced homemaker. 
• At least $1,000 towards the purchase of the home plus two (2) months reserves by settlement. 

Property Guidelines 
Any home purchased with program funds must meet HUD housing quality and lead based paint standards. Eligible property types include existing or newly constructed single-family, detached, semi-detached, attached, or condominiums within Chester County. The sales price must not exceed FHA limits, adjusted annually per FHA, and the home must be insurable. If any portion of the residential improvements is determined to be located within a Special Flood Zone Area (SFZA), insurance under the National Flood Insurance Program (NFIP) must be obtained. 

Income Limits 
1-person household: $54,150 
2-person household: $61,850 
3-person household: $69,600 
4-person household: $77,300 
5-person household: $83,500 
6-person household: $89,700 
7-person household: $95,900 
8-person household: $102,050 

*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.