Down Payment and Closing Cost Assistance Program (< 80% AMI)

Down Payment and Closing Cost Assistance Program (< 80% AMI) is a forgivable loan for homebuyers in Pittsburgh, Pennsylvania. URA Pittsburgh DPA tier for buyers under 80% AMI. Up to $7,500 deferred 0% forgivable second forgiven at 5 years. Pittsburgh city limits, FTHB, 660 FICO, 45% DTI, 1% borrower contribution, mandatory counseling. URA Pittsburgh's Down Payment and Closing Cost Assistance Program (DPCCAP) for buyers under 80% Area Median Income (AMI). Provides up to $7,500 in deferred 0% interest forgivable second mortgage assistance for down payment and/or closing costs. The DPA is FORGIVABLE after 5 years of continuous owner-occupancy (per HUD HOME affordability rules). Pairs with FHA, VA, USDA, or Conventional first mortgage. Buyers must purchase a 1-2 unit owner-occupied primary residence in the City of Pittsburgh, complete pre-purchase homebuyer counseling, contribute minimum 1% from own funds, and meet 660 minimum credit score. Funding comes from Local, Federal, and HOME.

Down Payment and Closing Cost Assistance Program (< 80% AMI) is forgiven after 5 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Forgivable after 5 years of continuous owner-occupancy. If property is sold, refinanced, transferred, or borrower vacates within 5 years, unforgiven balance due in full. The assistance is recorded in 2nd Lien position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Down Payment and Closing Cost Assistance Program (< 80% AMI) is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time" has exceptions here: First-time homebuyer required (no ownership in past 3 years). On credit, the program states: 660 minimum FICO. A homebuyer education course is required, through URA-approved homebuyer counseling agencies including NeighborWorks Western Pennsylvania, ACTION-Housing, Catapult Greater Pittsburgh, and Hosanna House. Residency requirement: Property must be located in the City of Pittsburgh and used as borrower's primary residence. Citizenship or immigration status: U.S. citizen, permanent resident, or qualifying non-permanent resident alien per first-mortgage product. Property must be located within the City of Pittsburgh and used as borrower's primary residence (1-2 unit owner-occupied). First-time homebuyer required (no ownership in past 3 years). Income at or below 80% AMI for Allegheny County (4-person 80% AMI ~$80,000; full range $56,250-$93,150 1p-8p). 660 minimum credit score. 45% maximum DTI. Borrower must complete pre-purchase homebuyer counseling at URA-approved agency. Borrower must contribute minimum 1% from own funds. Loan forgiven at 5 years of continuous owner-occupancy.

Down Payment and Closing Cost Assistance Program (< 80% AMI) limits household income to 80% of the area median income, which varies by county and household size. Income limits at or below 80% AMI for Allegheny County. Full household range $56,250 (1-person 80% AMI) to $93,150 (8-person 80% AMI). The limit applies to total household income, not only the borrower&rsquo;s. The program lists a maximum household size of 8. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Down Payment and Closing Cost Assistance Program (< 80% AMI) caps the purchase price as follows: No URA-set maximum; per first-mortgage product loan limits and Allegheny County FHA loan limits. Eligible property types include 1-2 unit owner-occupied primary residence (single-family detached, duplex, condominium, townhouse). New construction is eligible. Manufactured homes are not eligible.

Down Payment and Closing Cost Assistance Program (< 80% AMI) names veterans, active-duty service members, reservists and National Guard members, and surviving spouses among the groups it serves. Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

Down Payment and Closing Cost Assistance Program (< 80% AMI) serves homebuyers purchasing in Pittsburgh, Pennsylvania.

Applications for Down Payment and Closing Cost Assistance Program (< 80% AMI) go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through Reserved by URA-approved participating lender at rate lock through URA's reservation system. 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.