Center City

              Neighborhood Development Corporation

         "Changing the face of our neighborhood.....one improvement at a time."   

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Center City's newest and most successful homeownership program is the Home Ownership / Home Rehabilitation Program.  This program also addresses the need in our community to improve the existing housing stock while opening the home ownership opportunity to more low-income families.

First-time homebuyers shop the real estate market and find a home in their price range.  Average sale price of homes participating in this program are between $15,000 to $35,000.  These homes typically remain on the market longer and are in need of rehabilitation to bring the homes up-to-code and maintain affordable for the low income buyer over the lifetime of the mortgage.

Center City will inspect the selected home for the purpose of approving the home for the program. (This service is not to be used as a replacement for the certified home inspection).  Homebuyers must secure private mortgage financing to cover the mortgage.  Down Payment/Closing Cost Assistance Loans are available with this program.  Center City will offer a Grant of up-to $18,000 to address code violations, mechanicals, and weatherization issues in the home that could affect long-term affordability for the buyer.

ELIGIBILITY FACTORS:

    1)    Must be a first-time home buyer (not owned property in the past 3 years)

    2)    Home must be approved by Center City for program participation

    3)    Property must be a single-family home in the Center City Area

    4)    Must secure private mortgage financing with acceptable terms

    5)    Must own and occupy as primary residence for at least 10 years

    6)    Must complete Center City's First-time Homebuyer Ed. Series

    7)    Must meet Income Guidelines.