City of Carbondale Homebuyer Program

What is City of Carbondale Homebuyer Program?

City of Carbondale Homebuyer Program is a forgivable loan for homebuyers in Carbondale, Pennsylvania, administered by NeighborWorks Northeastern Pennsylvania (for the City of Carbondale).

• Administered by NeighborWorks Northeastern Pennsylvania, offers qualified buyers a forgiven, deferred-payment loan toward down payment and closing costs in the City of Carbondale. Awards run 10–15% of purchase price with a $5,000 minimum, based on adjusted household income against annually updated HUD guidelines. Buyers complete education and counseling before receiving an application.
• $5,000 minimum award.
• 10–15% of purchase price.
• Forgiven deferred-payment loan.
• Income deductions may apply.
• HUD-certified counseling included.
• Funding comes from City of Carbondale (HUD CDBG/HOME-type funds) via NeighborWorks NEPA.

Do you have to pay it back?

City of Carbondale Homebuyer Program is a forgivable loan, so the balance is forgiven once the program's conditions are met.

• Repayment is triggered by Forgiven deferred-payment loan; repayment triggered only if the home ceases to be owner-occupied during the affordability period.
• The assistance is recorded in Second position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

City of Carbondale Homebuyer Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

City of Carbondale Homebuyer Program sets its income limit as follows: Approval based on adjusted household income; income guidelines follow HUD guidance, updated annually. Specific dollar limits not published.

• The limit applies to total household income, not only the borrower’s.
• Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

City of Carbondale Homebuyer Program can be used for Single Family.

Where does it apply?

City of Carbondale Homebuyer Program serves buyers purchasing in Carbondale, Pennsylvania.

How do you apply?

Applications for City of Carbondale Homebuyer Program go through NeighborWorks Northeastern Pennsylvania (for the City of Carbondale), which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through NeighborWorks NEPA (HUD-approved); workshops in person or online via eHomeAmerica..

2. 2

   Contact NeighborWorks Northeastern Pennsylvania (for the City of Carbondale) to reserve funds

   Funds are reserved through Must complete Homebuyer Education and a one-on-one HUD-Certified Housing Counselor session before an application is issued., and are subject to availability.

3. 3

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.