Eligibility Requirements

Eligible Applicants

Prospective homebuyers must meet the following requirements to be eligible to receive assistance:

• Purchase a home within the City of Trenton
• Must be a First time homebuyer(s), if:
  • Buyer(s) have never owned a property
  • Buyer(s) have not owned a home in at least three years
  • Buyer is a legally divorced, single parent who owned a home with a former spouse
• Must be able to obtain a home loan (mortgage)
• Be a qualified low-income or moderate income household
• Occupy the property as their primary residence after the purchase
• Attend certified housing counseling certificate courses
• Be the owner of the property after purchase
• Be a United States citizen or legal resident

Eligible participants do not need to be residents of the City of Trenton at the time of application.

2019 Income Limits

All households applying to the program must be income certified by the City of Trenton. Income information must be provided for all members of the household and cannot exceed 80% of Area Median Income by household size. Income limits are revised by the U.S. Department of Housing and Urban Development on an annual basis and currently set as follows.

Mercer County Housing and Urban Development Section 8 Income Limits

Eligible Properties

Eligible properties for the program are limited to single-family and multi-family homes that will serve as the prospective homebuyer’s primary residence. Multi-family homes are limited to 4 units or less. Housing styles may include:

• Attached (row homes)
• Condominiums
• Detached single-family homes
• Manufactured homes
• Semi-detached (duplexes)

Eligible Uses of Assistance

Eligible homebuyers may receive funds to:

• Provide down payment assistance up to one half of 3.5%
• Provide closing costs
• Reduce the purchase price (principal write-down)