evidence: Home Buyer Incentive Program - The Home Buyer’s Incentive Program provides interest free deferred loans up to $5,000 to assist income qualified first-time homebuyers to purchase properties within the City of Newark. The funds can be used for up to 50% of down payment and 100% of settlement closing costs associated with the purchase of the home. All funding requested will be used for the Home Buyer’s Incentive Program loans and program costs (mortgage recording fees, lead paint, and electrical inspections, etc.) The loans will be secured by a second mortgage on the home to be purchased.