Community Lending · Requirements
Community Lending Requirements
Qualifying for a community or affordable lending program comes down to two neutral tests: how your income compares to the area median, or where the home sits by census tract. Both are defined by federal data — and your lender confirms eligibility for the specific buyer and address.
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The two qualifying paths
Income or location — not both required
Income and census-tract thresholds are based on federal data and vary by program; they change periodically. Eligibility for a specific buyer or address is determined by Bond Street.
How the two paths work
Either test can open the door
The income path
If your household income is at or below the program's threshold — often 80% of area median, sometimes higher — you may qualify regardless of where you buy in the service area.
The location path
If the home is in a qualifying lower-income census tract, some programs let you qualify based on the property's location, with income limits relaxed or removed.
Owner-occupied
These programs are generally for the home you'll live in as your primary residence — not investment property.
Homebuyer education
Many programs ask you to complete a homebuyer education course, which also helps you go in prepared.
Eligible homes
Homes that meet the location path
These listings sit in lower-income census tracts per the 2026 FFIEC maps — the same live feed on our Eligible Properties page. A tract match flags a candidate; Bond Street confirms eligibility for the specific address.
Listings are sourced and matched by an automated process against 2026 FFIEC census-tract data. Availability changes; a property appearing here may be under contract or sold. Confirm current status and program eligibility with the team.
Eligibility checklist
What lenders typically look at
- Household income relative to the area median — many programs use an 80% threshold, though some allow more
- Or the property's location in a qualifying lower-income census tract, defined by federal data
- The home must usually be your owner-occupied primary residence
- Completion of a homebuyer education course is often required
- Standard credit, income, and property review by the lender
- Final eligibility for any buyer or address is confirmed by Bond Street
Common questions
Requirements FAQs
What income counts toward the limit?
Programs generally look at qualifying household income against a percentage of the area median — commonly 80%, though some programs set it higher. Your lender calculates this using the same income figures used to underwrite your loan.
What if I earn too much for the income limit?
You may still qualify through the location path — if the home is in an eligible census tract, some programs relax or remove the income cap. Bond Street can check a specific address against the program's eligibility data.
Do I have to be a first-time buyer?
Not always — it depends on the program. Some are open to repeat buyers, while others focus on first-time buyers. Eligibility is based on the income and location tests, not first-time status alone.
How do I confirm I qualify?
Bond Street reviews your income and the property's census tract against the program criteria. Start your pre-approval and we'll connect you to begin that check.
Our trusted lending partner
Bond Street Mortgage
We work hand-in-hand with Bond Street Mortgage, serving Bergen, Passaic, Morris, Hudson, and Essex counties. Their team coordinates with us from pre-approval through closing, and confirms eligibility for community lending programs.
Talk to the team
Find out if you qualify
Reach out and we'll connect you with the right loan path and a pre-approval that holds weight in a competitive market.
RE/MAX Select - Chopper Russo Team. Thomas "Chopper" Russo, 392 Ramapo Valley Rd, Oakland, NJ 07436. Not a commitment to lend. Community and affordable lending programs, eligibility criteria, and terms are offered and determined by Bond Street Mortgage subject to applicable law and program guidelines. Equal Housing Opportunity.