City of Pittsburgh's First Time Home Buyer Loan
City of Pittsburgh First Time Home Buyer Program Requirements
You must own and occupy the City of Pittsburgh home. It may have 1 to 4 residential units. Your income and the purchase price must not exceed the limits. If you are purchasing in a program area you must be either a first time homebuyer or haven’t owned a home in the past three years. The borrower will also have to pay approximately a $300 fee for an application and a credit report. If you receive a Down Payment Closing Cost Assistance Grant, you will need to attend a homebuyers education class.
You must occupy the property purchased as a primary residence - no investors
|1 - Unit||$248,900|
|2 - Units||$280,340|
|2 - Units||$340,600|
|4 - Units||$393,000|
- Maximum Sales Price - Approximately $298,481
- Mortgage Program - FHA
- Minimum Down Payment - 3 1/2% (FHA)
You must be a first time home buyer or not owned a home within the previous three years and meet the household income limits in non-targeted area.
- Term - 30 Years only
- Eligible Areas - All areas of the City of Pittsburgh
Must be a single family residence. Condominiums, townhomes and mobile homes permanently affixed to a Borrower's individually owned lot are eligible. Houses that include rental space or commercial space are ineligible.
HOME BUYER COUNCILING
Participants' maybe required to obtain pre-purchase credit counseling (Homebuyer Education Counseling). A Certificate of Completion must be submitted to the mortgage company to be made a part of the Borrower(s) loan file. An acceptable Certificate of Completion may be obtained by the Borrower(s) from a PHFA or HUD certified counseling agency. Participants will also be required to meet with a Counselor for a one on one counseling session to go over budget, credit, mortgage financing and home ownership responsibilities. The counseling session will last a few hours.
City of Pittsburgh Closing Cost and Down Payment Assistance
Participants in the First-Time Homebuyer Program may qualify
for up to a maximum of $3,000 in Closing Cost and Down Payment Assistance
Targeted Area Homebuyers Program
Prospective home buyers in the following census areas are not required
to be first time home buyers. All other requirements of the PHOP Program
In target neighborhoods, there are no income limits and you do not have to be a first time home buyer!.
Maximum Sales Price - Approximately $364,810
|Allegheny Center||Central Northside (Part)||Garfield (Part)||Manchester (Part)|
|Allentown (Part)||Central Oakland||Glen Hazel||Middle Hill|
|Arlington (Part)||Chateau||Hazelwood (Part)||North Oakland (Part)|
|Arlington Heights||Crawford Roberts||Homewood North (Part)||Northview Heights|
|Bedford Dwellings||East Hills||Homewood South||Perry South (Part)|
|Bluff||East Liberty||Homewood West||Spring Hill South|
|Brighton Heights (Part)||East Liberty (Part)||Knoxville (Part)||St.Clair|
|California Kirkbride||Fairywood||Larimer||Terrace Village|
|Central Lawrenceville (Part)||Fineview (Part)||Lincoln-Lemington-Belmar (Part)||West Oakland (Part)|
|Upper Hill (Part)|
How much does it cost to buy a house in Pennsylvania?
Use the PA mortgage calculator to estimate the down payment, closing costs and monthly payment for FHA, VA, USDA & conventional loans.