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Centre County First Time Home Buyer Program

Nice house with sold signFor some people, the thought of buying a home can seem as far away as the moon. No matter how they try, they can't save enough money for the down payment and closing costs. If this sounds like you, and you want to buy a home in Centre County, then the Centre County Commissioners want to help.

The Centre County Housing Trust Fund offers eligible home buyers a down payment assistance loan of 10% of the sales price or $10,000 (whichever is less) for a home in Centre County.

First time home buyer requirements

Check markThe applicant must be a first time home buyer. A first time home buyer is someone who has not owned a home during the past three years. A single parent who is legally separated and has joint or full custody of one or more minor children may also be eligible.

Check markApplicant are required to be US Citizen(s) and residents of Centre County or employed in Centre County.

Asset Limitation - At the time of application, the buyer’s liquid assets (cash) and real property shall not exceed $15,000 and at the time of settlement, the buyer’s liquid assets (cash) shall not exceed $5,000.

1. Homes that are purchased must be located within Centre County.
2. Home buyers must participate in a home ownership course.
3. Homes must be inspected by a professional home inspector.
4. Home buyers must occupy the house as their principal residence.

Income Eligibility - Applicants must meet the income limits for Centre County (2020)

Household SizeIncome
1$62,100
2$71,000
3$79,900
4$88,700
5$95,800
6$102,900
7$110,000



Rotating question mark Frequently Asked Questions About the Centre County Home Buyer Program

Q. Is the Centre County program better than the PHFA program?
A. Maybe. The Centre County program is limited to buyer(s) whose income is at or below the median income based on family size (80%). If the income exceeds the income limits, then the state program is your only choice. However, if you meet the income and other requirements, then the Centre County program might be better, because the assistance loan can be as high as $10,000.

The state program maximum loan amount is $6,000 and requires repayment over a ten year term.

Pennsylvania Housing Finance Agency (PHFA)

The State of Pennsylvania (PHFA) offers home loan funding for first time home buyers and non-first time home buyers, including down payment and/or closing cost assistance up to $6,000. The PHFA programs can be used with the Centre County assistance program. Read more
Last updated 8/2020

Credit Counseling & First Time Home Buyer Classes in Cntre County PA