Lehigh Valley Down Payment And Closing Cost Assistance

Lehigh Valley Down Payment And Closing Cost Assistance

I believe this is the best kept secret in the Lehigh Valley when it comes to helping buyers with purchasing a home: There are other options for assistance in Lehigh and Northampton Counties. There is currently little marketing for this program, but the requirements to participate are certainly worth checking out:


It's the HOOP Program = Home Ownership Outreach Program


This Program is offered by the Neighborhood Housing Services of the Lehigh Valley, 239 North 10th Street, Allentown, PA 18102, Phone # 610-437-4571. 


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Without getting too detailed, depending on your income and family size, they will help subsidize down payment and closings costs for purchasing homes in the Lehigh Valley area. The program requirements are different for different cities and towns within the Lehigh Valley:


Lehigh County Area: HOOP will help subsidize down payment and closings costs for purchasing homes in Lehigh County (Schnecksville, Egypt, Coplay, Catasauqua, Fountain Hill, Coopersburg, Whitehall, Emmaus, Trexlertown, Macungie, Alburtis, Wescosville, Fogelsville, Salisbury, Slatington etc.). Properties in the cities of Allentown and Bethlehem are not eligible for this particular program (see below). Lending institutions must provide 95% of the purchase price.  The HOOP program will provide the remaining 5% plus all the closing costs at 0% interest (with the exception of private mortgage insurance at no more than 1%). The HOOP loan will be 100% forgiven after 5 years of ownership occupancy! THERE ARE ADDITIONAL QUALIFICATIONS FOR THIS PROGRAM. 


Allentown, Bethlehem, Easton and Northampton County: HOOP will help subsidize down payment and closing costs for purchasing a home in the cities of Allentown, Bethlehem and Easton and within Northampton County. Lending institutions must provide 90% of the financing. The HOOP program will provide the remaining 10% plus closings costs. The HOOP loan will have an interest rate of 3% with a maximum term of 30 years.  Upon sale of the property, the balance of the HOOP loan and any interest and late charges accrued must be paid to HOOP. The HOOP funds will be secured as a second lien mortgage.  THERE ARE ADDITIONAL QUALIFICATIONS FOR THIS PROGRAM.


Lehigh & Northampton Over 80% (higher income limits): HOOP will help subsidize down payment and closing costs for purchasing homes in the cities of Allentown, Bethlehem and Easton and the counties of Lehigh and Northampton. You must get a loan from a lender for 95%. Qualified applicants are eligible to receive loans for the remaining 5% of the purchase price plus closing costs. The loans will have a maximum term of 30 years and will be secured as a second lien mortgage. Upon sale of the property, the balance of the loan and any interest and late charges accrued must be paid to HOOP. THERE ARE ADDITIONAL QUALIFICATIONS FOR THIS PROGRAM. 


Please contact me if you would like to get pre-qualified for any of these programs or would like my guidance in purchasing your future home.


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Phone: 610-914-3763
Dated: April 4th 2017
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Heather Martin

Pittsburgh, PA
610-914-3763