BUREAU OF HOUSING SERVICES
First Time Homebuyer's Program
Stanley Witkowski
Housing Coordinator
First Time Homebuyer's Program
520 Market Street
City Hall Room 218A
P.O. Box 95120
Camden, NJ 08101-5120
Phone: 856-757-7323
Fax: 856-757-7389
Subsidy of $5,000.00 applied towards cost (down payment, closing costs) associated with purchase of property to be used as principal residence of applicant(s).
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Eligibility Requirements
All applications will be processed on a first come serve basis and meet the following criteria:
- Applicant must be a first time homebuyer or not have owned a home during the three-year period immediately prior to applying for this assistance.
- Applicant must occupy the property being purchased as their principal residence.
- Annual income of all household members cannot exceed 80% of the median income.
- Property to be purchased must meet City Code Standards. No HUD-owned properties or homes sold in as-is condition will be considered.
- Applicant(s) must attend and complete pre-purchase counseling with designated non-profit housing agency and obtain certification of satisfactory completion of training sessions prior to settlement.
- Agreement of Sale must show evidence of applicant depositing a minimum of $500 toward property down payment.
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Documentation
The following documentation must be submitted when completing the formal application:
- Proof of income from all applicable sources: employment, social security, pension, welfare, alimony/child support, unemployment/disability NOTE: Verification of income (e.g. pay stubs, award letters etc.) must be documented in file including two (2) years of W-2's and 1040 Tax Returns. Any applicant with dependents over 18 who claim no income must submit a notarized statement or copy of transcript and photo I.D., if in school.
- Executed Agreement of Sale
- Provide 6 months of bank statements for checking and savings accounts
- Copy of private lender's mortgage application
- Identity and address of private Lender must be disclosed during intake to facilitate communication between agencies on the status of client application.
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