Buyers must have an income under $67,000 and a credit score of 640 to be considered.

Here’s how it works:  if you are buying a home in one of the above counties, you may be eligible for $15,000 in down payment assistance in the form of a five-year, deferred loan at zero interest.  Even better, stay in your home for five years and you won’t need to repay the down payment loan- it is forgiven at 20% per year for each full you reside in the home.

First-time home buyers may also benefit from a Mortgage Credit Certificate (MCC), which provides a federal tax credit of up to $2,000 per year.  Want to know more?  Read more for details.