Educating New Homeowners 2015: A Review

The Mon Valley Initiative Housing Counseling Program assists potential homeowners to prepare for and realize their dreams of homeownership. In addition to providing pre-purchase housing counseling services, MVI also serves as a National HUD Intermediary, securing grant funding for 23 Housing Counseling agencies around the U.S. The Housing Counseling Team holds multiple group workshops each year and offers a variety of ways for people interested in owning a home to get involved with the program. Check out some of their significant accomplishments and highlights of 2015:

 

Expanding Homeownership Opportunities in Charleroi and Monessen

In 2015, MVI received Pennsylvania Housing Affordability Rehabilitation Enhancement (PHARE) funding in the amount of $110,000 to provide assistance to potential homebuyers in Charleroi Borough. In addition to Charleroi, MVI also received PHARE funding this year to support a homeownership program in Westmoreland County, along with another affordable rental unit to the Cornerstone Apartments in West Newton, and for a modest rehab for resale program in Allegheny County. MVI was previously awarded PHARE funding for a down payment and closing cost assistance program in Monessen.

Both opportunities in Charleroi and Monessen require that applicants have an income between 60-80% Area Median Income (AMI), and that applicants enroll in MVI’s Housing Counseling program to earn a certificate of completion in order to receive assistance. A maximum of $10,000 will be awarded to qualifying households for the purpose of assisting with down payment and closing costs.

 

Group Counseling Workshops

Each year, our Housing Counselor holds public group workshops out in the community, in addition to the individual counseling regularly offered. In 2015, Jonathan held two workshops in October and one in December to help answer common questions about homeownership and invite attendees to enroll in the program as individual participants.

Jonathan provided housing counseling services to 394 program participants in 2015, and out of those served, 104 were able to successfully purchase homes.

 

Intermediary Successes

In 2015, our HUD Intermediary worked to secure funding for 23 Housing Counseling agencies across the U.S., receiving $656,822 in HUD funding and leveraging $6,065,140.61 in additional Housing Counseling funding.
Interested in owning a home? You can sign up today by contacting Jonathan at jweaver@monvalleyinitiative.com or 412-464-4000 x.4008. You can also view 5 reasons why now is a great time to think about homeownership or make a donation to our program. Thank you!