Program provides up to $5K in assistance for homebuyers

Average house prices in Western Pennsylvania continue to be near all-time record highs. Wouldn’t it be nice if first-time homebuyers could get some help?

Through the First Front Door (FFD) program, funded by the Federal Home Loan Bank of Pittsburgh, they can. Qualified homebuyers receive up to $5,000 in assistance toward down-payments and closing costs. Funds are available on a first-come, first-served basis.

Under FFD, qualified homebuyers can receive a 3-to-1 matching contribution from a participating lender. That means that for every $1 the homebuyer contributes, they can receive $3 in grant assistance, up to a maximum of $5,000.

Qualified first-time homebuyers can use FFD grants toward closing costs and down-payment assistance on eligible properties that are intended as the primary residence of the homebuyer at the time of program enrollment.

Eligible homes include single-family homes, townhomes, condominiums and modular units. Manufactured homes may be eligible if they are permanently affixed to a site. Investment properties are not eligible for FFD assistance.

Homebuyers may be eligible for First Front Door if they:

• Are a first-time homebuyer (have not owned a home in the past three years, or owned only as a married person and are now single),
• Have an income at or below 80 percent of the area median income, and
• Complete four hours of homeownership counseling.

Approved housing counseling is offered through Mon Valley Initiative. To sign up—and receive help applying for the First Front Door program—contact Jonathan Weaver at 412-464-4000, ext. 4008 or 724-565-8040, ext. 1; or email jweaver@monvalleyinitiative.com.