Down Payment &

Closing Cost Help

Each year, Beaver County allocates funds towards down payment and closing cost assistance for low and moderate income people who are buying their first home in Beaver County, Pennsylvania. The First Time Buyer Program allows for a down payment and closing cost assistance grant if an applicant’s income is at or below 80% of the area’s median income.

HOME

OWNERSHIP

INITIATIVE

The Home Ownership Initiative, Housing Opportunities’ down payment assistance program is designed to help eligible first-time homebuyers overcome the financial barriers associated with purchasing a home. The program offers two types of grants, the Income-Based Grant and the Location-Based Grant. If you qualify in at least one of the two ways, you are eligible for:

Down Payment Assistance

Closing Cost Assistance

Counseling and Advisory Assistance

LOCATION-BASED GRANT ELIGIBILITY REQUIREMENTS

The Location-Based Grant is designed to encourage homeownership in targeted areas by offering financial assistance to potential homebuyers. This grant aims to promote community development and neighborhood revitalization, as well as to reduce the concentration of low-income households in certain areas. By providing $2,000 in down payment assistance for home purchases in designated locations, this grant incentivizes homebuyers to consider living in areas that might otherwise be overlooked. The locations are designated by annually by U.S. Department of Housing and Urban Development. Please look below to view Qualified Census Tracts (QCTs) in Beaver and Lawrence County.

Beaver County

Lawrence County

INCOME-BASED GRANT ELIGIBILITY REQUIREMENTS

The Income-Based Grant aims to support low-to-moderate-income individuals and families in their pursuit of homeownership. To qualify for this grant, applicants must meet specific income requirements based on their household size. By offering $3,000 in down payment assistance, this grant reduces the initial financial burden and enables more individuals and families to afford a home of their own.

To apply for our First Time Buyer program, please contact our office to schedule an initial consultation. During your initial consultation, you will be asked to provide other documents relevant to your situation.

Home Ownership Initiative Partners

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