Buying a home with a down payment assistance grant

Jennifer February 8, 2020

Buying a home with a down payment assistance grant

Allegheny County residents seeking to purchase a house may be eligible to be given a grant for their deposit.

For a limited time, you could receive a $15,000 grant to help you buy a home in Allegheny County. If you are Eligible as active military, veteran, or eligible surviving spouse; law enforcement, firefighter, emergency medical technician or Teacher/paraprofessional, you might be eligible to get an additional $2,500 for a total grant amount of $17,500.

Employing a $3.3 million commitment by Wells Fargo, the application is anticipated to make 175 homeowners at Allegheny County by providing $15,000 down payment assistance grants which require completion of a HUD-certified homebuyer education.

To Qualify, annual incomes should not exceed 80% of their local area networking income in Allegheny County, which can be $63,900 for a person up to a household of four. There are particular parameters for both veterans and service members, educators, law enforcement officers, firefighters and healthcare technicians, who might bring in up to 100% of their area median income from Allegheny County, that will be $79,900 for as much as a household of four, and also book $17,500 down payment assistance grants.

There are a range of required measures you will want to follow when purchasing a house with the NeighborhoodLIFT down payment assistance grant.

1. Ensure your finances are in order

2. Know your mortgage options and get preapproved

3. Take homebuyer education classes

4. Find a home and sign a purchase agreement

5. See if you qualify for the grant

6. Finalize your mortgage approval

7. Close on your new home

Individuals interested in learning more can see www.wfhmconsumerevents.com/aspx/Events/Brochure.aspx or may stop by a Wells Fargo Home Lending office.