Are you a first-time homebuyer? If so, you can receive up to $5,000 to assist with closing costs and down payment on your new home. To qualify, you must:
- Be a first-time homebuyer.
- Contribute personal funds as part of the down payment and closing costs.
- Have an income at or below 80 percent of the area median income at the time of FFD program enrollment.
- Not be a student working less than 30 hours per week..
- Complete at least four hours of homeownership counseling from an approved counseling agency prior to the purchase of the home. Counseling must include the topic of predatory lending. PCDC provides free homeownership counseling. Make an appointment by calling us at 215-922-6156.
- NOT receive more than $250 cash back at loan closing.
- Retain the home for five years from the loan closing date in order to keep the full amount of the grant.
- Look to purchase a primary residence.
Eligible residences include single-family homes, townhomes, condominiums, and modular units.
To apply, contact a participating bank to discuss their mortgage process and ask for a First Front Door grant. Find the full list of banks and contact information here: https://www.firstfrontdoor.com/ffdbanks.html
If you have any questions about the First Front Door Program, contact PCDC at 215-922-6156.