First Time Homebuyer Down Payment & Closing Cost Assistance Program

First Time Homebuyer Down Payment & Closing Cost Assistance Program is a deferred second loan for homebuyers in Butler County, Pennsylvania. The Housing Authority of the County of Butler's First Time Homebuyer Down Payment & Closing Cost Assistance Program provides up to $5,000 in down-payment and closing-cost assistance for first-time homebuyers purchasing a primary residence in Butler County, PA. Assistance is a 0% interest deferred / forgivable second mortgage with a 5-year affordability period funded through PHFA Housing Trust Fund and HUD HOME pass-through dollars. Up to $5,000 in down-payment and closing-cost assistance for first-time homebuyers purchasing a primary residence in Butler County, PA. Provided as a 0% interest deferred / forgivable second mortgage funded through PHFA Housing Trust Fund / HUD HOME pass-through dollars and administered by the Housing Authority of the County of Butler. Funding comes from PHFA Housing Trust Fund, HOME, Federal, and Local Government.

First Time Homebuyer 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 pro-rata over a 5-year affordability period and balance due if buyer sells, refinances with cash-out, transfers title, or ceases primary-residence status during the affordability period. The assistance is recorded in 2 position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

First Time Homebuyer Down Payment & Closing Cost Assistance Program 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 (no ownership of principal residence in prior 3 years). On credit, the program states: Underwriting follows first-mortgage product; no published HACB credit floor. A homebuyer education course is required, through HUD-approved housing counseling agencies serving Butler County (commonly NeighborWorks Western PA or NWP Bridgehouse); pre-purchase 8-hour education certificate required. Residency requirement: Property must be located within Butler County, PA and occupied as the buyer's primary residence for the 5-year affordability period. Citizenship or immigration status: U.S. citizen or eligible non-citizen permitted by HUD HOME rules. Buyer must be a first-time homebuyer (no ownership of principal residence in prior 3 years), purchase a primary residence in Butler County, complete HUD-approved homebuyer education, and contribute a minimum of $1,000 from their own funds. Household income may not exceed 80% HUD AMI for the Pittsburgh MSA / Butler County: 1-person ~$56,700 up to 8-person ~$106,900. Property must pass HUD HQS / lead-based paint inspection. 5-year affordability period applies; lien forgiven pro-rata.

First Time Homebuyer 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 at or below 80% Pittsburgh MSA AMI for Butler County: 1-person ~$56,700; 4-person ~$80,950; 8-person ~$106,900. Limits updated annually by HUD. The limit applies to total household income, not only the borrower’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.

First Time Homebuyer Down Payment & Closing Cost Assistance Program caps the purchase price as follows: Tracks HUD HOME 95% area median purchase price for Butler County. Eligible property types include Single-family detached, Townhouse, and Condominium. New construction is eligible. Manufactured homes are not eligible.

First Time Homebuyer Down Payment & Closing Cost Assistance Program serves homebuyers purchasing in Butler County, Pennsylvania.

Applications for First Time Homebuyer Down Payment & Closing Cost Assistance Program go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through First-come, first-served subject to annual PHFA / HUD HOME allocation. 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.