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City of Erie HOME First-Time Homebuyer Program

City of Erie Department of Economic & Community Development (DECD) · Erie, Pennsylvania

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Assistance

$24,999

The maximum the program publishes — not an offer

Repayment

Forgivable

Forgiven after 10 years

What is City of Erie HOME First-Time Homebuyer Program?

City of Erie HOME First-Time Homebuyer Program is a forgivable loan for homebuyers in Erie, Pennsylvania, administered by City of Erie Department of Economic & Community Development (DECD).

  • The City of Erie's HOME Investment Partnership Program provides first-time homebuyers with closing cost and down payment assistance toward the purchase of a single-family home within Erie city limits. Assistance is provided as a deferred, forgivable HOME loan of up to $24,999, secured by a lien and forgiven on a pro-rata basis over a 5- or 10-year affordability period. Applicants must be pre-approved by a local lender, be income-eligible, and contribute $1,000-$1,500 of their own funds.
  • Up to $24,999 in down payment and closing cost assistance.
  • Deferred, no-payment loan.
  • Fully forgiven if the home is kept as a primary residence through the affordability period.
  • This is a federal program, so it is available beyond a single state or city.
  • Funding comes from U.S. HUD HOME Investment Partnerships Program (HOME) funds.

How much assistance does it provide?

City of Erie HOME First-Time Homebuyer Program offers up to $24,999 in assistance.

  • The program asks buyers to contribute $1,000 or $1,500 depending on total household income.
  • Amounts are the program's published maximums, not an offer — City of Erie Department of Economic & Community Development (DECD) determines any individual award.

Do you have to pay it back?

City of Erie HOME First-Time Homebuyer Program is forgiven after 10 years, so a buyer who stays that long does not repay it.

  • Repayment is triggered by Sale, transfer, refinance, default on the first mortgage, or failure to occupy as primary residence during the affordability period; pro-rata portion repaid to HUD.
  • 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 Erie HOME First-Time Homebuyer Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

The program requires

  • First-time homebuyer — with exceptions: First-time homebuyer defined as someone who has never owned a home, a displaced homemaker, or someone who has not owned a home in the last three years.
  • The home is occupied as a primary residence
  • A completed homebuyer education course
  • Residency: Property must be a single-family dwelling located within the City of Erie limits.
  • Applicant must be pre-approved by a local lending institution, be income-eligible, and commit $1,000 or $1,500 of their own funds (amount depends on household income). Must occupy as primary residence for the entire 5- or 10-year affordability period. NOTE (gap-finder): exact income limits not extracted from the linked PDF; verify before publishing.

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What kind of home can it be used for?

City of Erie HOME First-Time Homebuyer Program can be used for Single Family.

Where does it apply?

City of Erie HOME First-Time Homebuyer Program is a federal program, so it is not limited to Pennsylvania.

  • The program targets specific areas: Assistance is limited to homes purchased within the City of Erie municipal limits.

How do you apply?

Applications for City of Erie HOME First-Time Homebuyer Program go through City of Erie Department of Economic & Community Development (DECD), which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program before funds are reserved.

  2. Contact City of Erie Department of Economic & Community Development (DECD) to reserve funds

    Funds are reserved with the provider and are subject to availability.

  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.

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