City of Jeannette Down Payment & Closing Cost Assistance Program

City of Jeannette Down Payment & Closing Cost Assistance Program is a forgivable loan for homebuyers in Jeannette, Pennsylvania, administered by City of Jeannette (CDBG), with Redevelopment Authority of the County of Westmoreland (RACW). The City of Jeannette offers low-to-moderate-income homebuyers a matching down payment and closing cost grant of up to $3,000 (paying up to 50% of required down payment and/or closing costs) toward the purchase of a single-family home within the city. Assistance is structured as a recorded second mortgage equal to the city's contribution, forgiven 20% per year and fully forgiven after five years of continuous owner-occupancy. Up to $3,000 toward down payment/closing costs. Matches up to 50% of buyer costs. 0% interest. Forgiven 20%/year over 5 years. Funding comes from Federal CDBG / HOME funds via City of Jeannette and Westmoreland County.

City of Jeannette Down Payment & Closing Cost Assistance Program offers up to $3,000 in assistance. Award tiers: Matching assistance: pays up to 50% of required down payment and/or closing costs, maximum $3,000. City contribution matched by buyer. Homebuyer contribution: Buyer must contribute a matching share (city pays up to 50% of down payment/closing costs). The program can be combined with Layered with a primary mortgage; commonly combined with PHFA and other Westmoreland County programs. Amounts are the program's published maximums, not an offer — City of Jeannette (CDBG), with Redevelopment Authority of the County of Westmoreland (RACW) determines any individual award.

City of Jeannette Down Payment & Closing Cost Assistance Program is forgiven after 5 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Forgiven 20% per year; lien fully forgiven after 5 years of continuous owner-occupancy. If sold before the 5-year anniversary, remaining balance must be repaid. The assistance is recorded in Second mortgage (subordinate lien held by the city). position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

City of Jeannette Down Payment & Closing Cost Assistance Program is open to homebuyers who will live in the home as their primary residence. Residency requirement: Property must be a single-family home located within the City of Jeannette. Confirmed via Westmoreland County official Homeownership & Rental Programs page (RACW); terms: up to $3,000 / 50% match, forgivable second mortgage 20%/yr over 5 years, <80% AMI for City of Jeannette, single-family in city limits, max price <=95% of FHA 203(b) limit. GAPS: explicit FTHB requirement, full HUD income table by household size, homebuyer-education requirement, HQS/inspection requirement, min credit/DTI, participating lenders not confirmed on a single official program PDF — verify against City of Jeannette/RACW guidelines (724-830-3600).

City of Jeannette Down Payment & Closing Cost Assistance Program limits household income to 80% of the area median income, which varies by county and household size. Household income must be below 80% of the area median income for the City of Jeannette (HUD limits adjusted by household size). Full per-household-size dollar table not published — confirm current HUD 80% AMI limits with the City/RACW. The limit applies to total household income, not only the borrower&rsquo;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.

City of Jeannette Down Payment & Closing Cost Assistance Program caps the purchase price as follows: Maximum purchase price may not exceed 95% of the maximum FHA 203(b) loan amount for the area. Eligible property types include Single Family.

City of Jeannette Down Payment & Closing Cost Assistance Program serves homebuyers purchasing in Jeannette, Pennsylvania.

Applications for City of Jeannette Down Payment & Closing Cost Assistance Program go through City of Jeannette (CDBG), with Redevelopment Authority of the County of Westmoreland (RACW), which publishes the current terms and the application steps on its own site. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.