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Promoting Owner Occupancy of Homes
About the Program
The Promoting Owner Occupancy of Homes (POOH) Program promotes and encourages the owner-occupancy of homes in Newark by providing interest free, deferred payment loans of up to $30,000 towards the purchase of any single family homes in the city with a valid rental permit. View or download the application.

Rental Permits
Rental permits for homes to be purchased must have been issued a minimum of two years from the date of application. The loan will be secured by a second mortgage.

Loan Repayment
Loan repayment will be required at the time of sale or transfer of the property, and will include the full principal amount plus a percentage of the increased value of the home during the borrower’s ownership, in direct proportion to the amount loaned by the city at the time of settlement.  

For example, if the total value of the city POOH loan consisted of 20% of the original purchase price, then the city would receive as the loan repayment 20% of the net appreciation, plus the principal amount.