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CLOSING COST CALCULATOR

Closing cost calculator








Venango County First Time Home Buyer Program

Nice house with sold signClosing Costs/Down Payment Assistance For First-Time Home Buyers

Do you want to purchase your first home in Venango County? Have you been approved for a mortgage and need some money for the down payment and or closing costs? Then let's see if the Venango County First Time Home Buyer Program can help you buy your first home.

The program provides eligible applicants with an assistance loan of up to $5,000 or 10% of the purchase price, whichever is less. The Affordable Housing Trust funds are a deferred loan. A second mortgage will be placed on the property with no forgiveness during the first five years of ownership. Any transfer of the property during the five-year period from the date of the mortgage shall require that the money be repaid in full immediately to the Affordable Housing Trust. In the event of a refinancing of any prior indebtedness, a request for subordination shall be evaluated on a case-by-case basis.


Check markAre you a first time home buyer? A first time home buyer is someone who has not owned a home in the past three (3) years.

Check markWill you occupy the home located in Venango County as your principal residence?

Check mark Will you purchase a single family home?

Check markCan you contribute a minimum of two (2%) percent of the purchase price from your checking, savings or another account?

Total income of all household members cannot exceed 100% of the median household income for Venango County and it cannot be lower than the Low-Income maximum as adjusted annually.

Household income limits must meet the The Applicant’s debt to gross income ratio may not exceed 28 percent.

Additional:
Proof of income for all household members include all the following (if applicable)

  • A minimum of 3 payroll check stubs,
  • A minimum of 3 direct deposit statements
  • A printout verifying child support for a period of one year,
  • W-2 forms
  • tax returns
  • 1099 forms,
  • A letter from the Social Security Administration listing ssi payments for a full year.

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