Shippensburg Non-Profit Housing Corporation has acquired eight houses on East Orange Street in Shippensburg Borough. These homes at 20, 22, 25, 27, 112, 114, 105, and 232 East Orange Street will be rehabilitated and then sold to income eligible families who are first time homebuyers. Annual household income can not exceed 80% of the County’s median income. A first-time homebuyer is defined as someone who has never before owned a home, has owned a mobile home but not the land the mobile home was located on, or someone who has lost their home due to a divorce settlement and has not owned a home since.

The Lutheran Hill homes are now being rehabilitated and will be sold for the post rehab appraised value. The buyers will pay 90% of the post rehab appraised value at settlement and a lien for the remaining 10% value will be placed on the property in the form of a five-year forgivable loan. A deed restriction requiring the property to remain homeowner occupied for a period of twenty-five years will also be in place. Closing cost assistance of up to $3,000 is also available through the Shippensburg Borough CDBG Down Payment and Closing Cost Assistance Program. The buyer’s participation in a certified home buyer’s education workshop is required before settlement.

These properties are eligible for both the USDA Rural Development Section 502 Direct Loans and the USDA Guaranteed Rural Housing Loan Program offered through area banks. Prospective buyers are encouraged to investigate the best loan financing options for which they would be eligible.

HOUSEHOLD SIZE            TOTAL HOUSEHOLD ANNUAL INCOME LIMIT

            1                                                                $33,950

            2                                                                $38,800