HomeMarlton NewsProgram urges workers to ‘live where they work’

Program urges workers to ‘live where they work’

By ROBERT LINNEHAN | Marlton Telegram

The state’s Live Where You Work program is beginning to gain momentum in the township, Mayor Randy Brown said, and mortgage rates offered by the Housing and Mortgage Finance Agency are steadily decreasing.

Passed in January, Evesham Township was one of the first South Jersey municipalities to adopt the specialized program designed to attract township employees to buy a home in Evesham. The program offers potential homebuyers home mortgage , including low-interest rates and other perks.

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Offered through the state’s Housing and Mortgage Finance Agency, the program partners with area real estate agents and banks to offer attractive mortgage rates, flexible loan-application reviews or underwriting criteria, and down-payment and closing-cost assistance of up to 5 percent.

According to the state, the assistance offered from this program does not have to be paid back if the homeowner lives in their new home for more than seven years.

The state’s goal for the program is to build stronger communities by promoting homeownership and encouraging people to live closer to their jobs.

See this week’s print edition of The Telegram for the full story.

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