First-Time Homebuyer Program
Helping First-Time Homebuyers in Monroe County Achieve Affordable, Safe, and Stable Homeownership
First-Time Homebuyer Program
The Monroe County First-Time Homebuyer Program helps income-eligible individuals and families purchase their first home. This initiative is a partnership between the Monroe County Commissioners, the Monroe County Affordable Housing Board, and participating mortgage lenders. Funding is provided through the County’s Affordable Housing Trust Fund.
Program Benefits
Qualified applicants may receive:
- A no-interest second mortgage loan of up to $20,000, or 20% of the purchase price (whichever is less), to be used toward the down payment and/or closing costs
- An additional $5,000 for applicants who have lived in Monroe County for at least the past 12 consecutive months
This assistance is secured by a second lien on the property and is forgiven at 10% per year over a 10-year affordability period, or until the property is sold.
Eligibility Requirements
To qualify for the First-Time Homebuyer Program, applicants must:
- Be a first-time homebuyer, as defined by the program
- Have a household income at or below 100% of Monroe County’s median income (updated annually)
- Contribute at least 3% of the purchase price from their own funds
- Purchase an existing home (new construction is not eligible)
- Occupy the home as their primary residence
- Be a U.S. citizen or permanent resident alien
- Complete a Pre-Purchase Counseling Workshop approved by HUD
INCOME LIMITS
The Monroe County First Time Home Buyer Program assists income-eligible households in purchasing safe, stable, and affordable owner-occupied homes.
*Income limits are determined annually and subject to change based on Housing Urban Development (HUD) Median Income limits for Monroe County.
| Household Size | Annual Income Limit |
|---|---|
| 1 person | $73,063 |
| 2 people | $83,500 |
| 3 people | $93.938 |
| 4 people | $104,400 |
| 5 people | $112,750 |
| 6 people | $121,125 |
| 7 people | $129,438 |
| 8 people | $137,813 |
Loan Terms
Repayment terms may apply if the 10-year affordability period under these conditions; The property is sold or transferred; Borrower ceases to occupy the property as borrower’s primary residence; The first mortgage is paid in full or refinanced for more than the original purchase price; Borrower defaults under the Promissory Note or Mortgage; or It is discovered that Borrower submitted incomplete, false, or misleading information in connection with the loan or Program application.
How to Apply
If you are interested in either program, please contact the Redevelopment Authority of the County of Monroe at (570) 421-4300. Our team will help determine your eligibility and guide you through the application process.
We are committed to strengthening Monroe County’s communities by supporting safe, sustainable, and affordable housing opportunities for local residents.