Allegheny County First Time Home Buyer Program
Unfortunately,
as of 3/2018, the Allegheny County Homeowner's Program is temporarily
closed. Go to the PHFA page to learn
about Pennsylvania's First Time Home Buyer Programs and closing-cost/down
payment assistance loan.
The Allegheny County First Time Home Buyer program is open to all
eligible Allegheny County residents, with the exception of residents
of the City of Pittsburgh. (see
Pittsburgh Homeownership Program).
The home-buyer program provides up to $5,000 in closing-cost and down payment assistance to eligible borrowers.
Down Payment and closing-cost and Assistance Program.
- Loan Term - 30-years
- Minimum down payment - 3.5% (FHA)
- Eligible areas - All areas of Allegheny County except the City of Pittsburgh
- Income Limits - Household income must be at or below 80% of the median family income for Allegheny County
Mortgage loan limit - $248,900
Sales Price Limit - $294,750 for existing homes and new construction
Program requirements
- Applicants must be First Time Home Buyers. If the home is located in a targeted area of Allegheny County, the first-time ownership is waived. Allegheny County defines a First Time Home Buyer as one who has not owned a home during the within the three previous years.
- Applicants seeking assistance must attend a HUD-approved home-buyer Education Course and receive a certification of participation
- Monthly mortgage payment, including taxes, principal interest,
and insurance, cannot exceed 29% of borrower's monthly gross
income (FHA guidelines)
- Monthly obligations, including mortgage payment, credit cards, student loans, etc., may exceed 41% of the borrower's monthly gross income (FHA loan guidelines)
- The applicant's income tax returns for the past three years
must be provided to the mortgage lender.
- The home must be occupied by the borrower as the principal residence.
Closing-cost and down payment assistance
The Allegheny County First Time Home Buyer Program provides down payment and closing-cost assistance to qualified home-buyers up to a maximum of $5,000. Borrowers must satisfy all program guidelines . . . and household income should be at or under 100% of the area median income. The household income limits are:
Household Size | Gross (Pre-tax) Income |
---|---|
1 Member | $45,500 |
2 Members | $52,400 |
3 Members | $58,500 |
4 Members | $64,900 |
5 Members | $70,100 |
6 Members | $73,600 |
7 Members | $73,600 |
8 Members | $73,600 |
Targeted Area home-buyer Program:
All of the First Time Home Buyer Requirements apply EXCEPT:
- There is no First Time Home Buyer Requirement
- The borrower’s Household income must meet Household Income Limits.
- Sales Price Limit $360,250
- The house must be located within one of the following census tracts:
Clairton: 4923
Duquesne: 4869
Homestead: 4838
Rankin: 5140
W. Homestead: 4824
McKees Rocks: 4644
McKeesport: 5509, 5519, 5521
Credit counseling & First Time Home Buyer Classes in Allegheny County PA