Montgomery County Employer Assisted Housing Program
Financial assistance is available to help county employees purchase their dream home in Norristown or Pottstown
The Employer Assisted Housing Program, established and administered by the Commissioners and the Department of Housing & Community Development, is available to assist County employees in purchasing a home in the Boroughs of Norristown or Pottstown in Montgomery County. Participating County employees will receive assistance up to the amount of $15,000 per household for down payment, closing costs or rehabilitation costs. Participants may be required to complete a counseling program and meet with the Counselor to go over budget, credit, mortgage financing and homeownership responsibilities. Funds for the program are supplied through the County’s Community Revitalization Program.
Application Process
Applications can be obtained from the Department of Housing & Community Development (610) 278-3540. Limited funds are available to all qualified applicants on first come, first serve basis. The Housing Programs Manager administers the Program through the Department of Housing & Community Development. Any County employee interested in participating in the program must be approved PRIOR to entering into an agreement of sale. There is a $25.00 nonrefundable fee payable at the time of application.
Household Eligibility
To be eligible for financial assistance, the employee must:
1. Be a full time employee of Montgomery County, as defined in the Montgomery County Employee Handbook, (under Employee Classifications) at time of application and loan closing;
2. Intend to occupy the property purchased as a primary residence;
3. Be creditworthy and able to qualify for a mortgage at or below the current market rate;
4. Complete the required counseling program (applicable to first time home buyer only) prior to executing any contract of sale for the purchase of real estate;
5. Have the ability to meet primary lender’s asset requirements or a minimum of annual taxes and escrow reserve requirements by lender (approximately $4,000.00); and
6. Intend to remain a full time employee of Montgomery County, as defined in the Montgomery County Handbook, for a full twelve months after settlement.
Property Eligibility
Property purchased under the program must:
Be an existing or newly constructed single family residence located in the Boroughs of Norristown or Pottstown.
Be acceptable to the primary lender and insurer of the first mortgage.
Special Feature
Financial assistance can be used for rehabilitation of a home. Eligible improvements include:
Remodeling interior and exterior amenities or features such as bathrooms, kitchens, appliances, façade, electrical and heating system
Structural alterations and reconstruction
Elimination of health and safety hazards such as lead-based paint
Others – as approved
**All rehabilitation requests are subject to Department’s final approval**
Assistance Terms
1. Financial Assistance amount is up to $15,000 per employee household re-gardless of income, selling price of property, or household assets.
2. Interest rate of zero percent (0%).
3. Repayment only if:
Home is sold, conveyed, granted or otherwise transferred within 8 years from the date of purchase of the property;
Vacated or abandoned as a primary residence within 8 years from the date of purchase of the property;
Used as investment or income producing property;
Terminated employment with the County within one year of purchase of home.
