Westmoreland County: First Time Home Buyer Programs
I'm searching whether Westmoreland County has any First Time Home Buyer Programs. Please send me an email if you have any information on the following first-time time home-buyer programs.
In the meantime, take a look at PHFA, Pennsylvania's First Time Home Buyer program.
City of Jeannette - Down payment & closing-cost Assistance Program
The City of Jeannette provides down payment and
closing-cost assistance loans to first-time homebuyers with low to
moderate incomes. Purchase prices that surpass 95 percent of the
maximum FHA 203(B) loan amount are not permitted under this program.
Aiming to assist qualified homebuyers in the purchase of
single-family homes in the City of Jeannette, the program was
established.
The assistance grant may be used to cover up to 50% of closing
expenses and/or the down payment that is needed on a home. The total
amount of help provided cannot exceed $3,000.00. Approximately half
of a buyer's down payment and closing expenses are covered by the
matching funds.
On the property will be put a second mortgage in the amount of the
city's contribution, which will be paid off over time. Approximately
20% of the assistance loan will be forgiven on an annual basis. The
lien will be released once the homebuyer has lived in the house for
five years without interruption.
The household's income must be less than 80% of the
median income
for the City of Jeannette in order to qualify.
Credit Counseling & First Time Home Buyer Classes in Westmoreland County PA
SOURCE:
Recommended Reading
VA Loan Eligibility in Pennsylvania
VA Loan Facts Every Veteran Should Know
VA Loans Explained: 28 Questions & Answers You Need to Know