Home Buyers Purchase Program

Home Buyers Purchase Program


The City of East Orange Home Buyers Purchase Program currently provides assistance in the form of deferred payment loan to home buyers, and low-interest loans or subsidy grants to developers. The City of East Orange may choose whether to carry out full underwriting and loan-to-value analysis.

First Time Homebuyer Program - Program Changes


Applicants after May 1, 2014 are subject to new Neighborhood Housing and Rehabilitation (NH&R) underwriting procedures including, but not limited to:
  • Applicant must contribute 1.5% of the total mortgage towards down payment
  • 2 months of future mortgage payments secured in the bank (must show evidence)
  • Major systems (i.e. roof, furnace etc.) must have at least a 5 year life expectancy at the time of purchase
  • Commitment to post credit counseling after closing

Monitoring of Rental Units


The NH&R staff will conduct annual certification of all HOME-funded rental units.
In addition, the monitoring staff will annually send to all homeowners
  • Updated rent limits
  • Updated utilities allowance sheet