HomeOwnership Program Financing (HOP)

HomeOwnership Program Financing (HOP) is a grant for homebuyers in Reading, Pennsylvania. The HomeOwnership Program (HOP) is NHS Greater Berks's signature portfolio first-mortgage product. NHS originates, underwrites, and services HOP loans in-house using portfolio-lending guidelines that consider full credit history, alternative tradelines, and household budget rather than scorecard-only underwriting. HOP is intended for buyers who cannot qualify for FHA / VA / USDA / Conventional financing through traditional channels but who have demonstrated capacity to repay through NHS counseling. HOP can be paired with NHS's Closing Cost Assistance Loan (CCAL) to cover closing costs. NHS Greater Berks's flagship in-house first-mortgage product. The HomeOwnership Program (HOP) is a portfolio first-mortgage loan offered by NHS, designed for credit-worthy buyers who do not qualify for FHA, VA, USDA, or Conventional financing through traditional channels. HOP includes paired closing-cost and down-payment financing flexibility and is fully servicer-retained by NHS. Funding comes from NHS CDFI capital, PHFA Housing Trust Fund, FHLB AHP, and Local Government.

HomeOwnership Program Financing (HOP) is structured as a grant, so it is not repaid. Repayment is triggered by Standard monthly amortization over the loan term and due on sale, refinance, or transfer. The assistance is recorded in 1 position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

HomeOwnership Program Financing (HOP) is open to homebuyers who will live in the home as their primary residence. On credit, the program states: 620 minimum FICO; alternative-credit borrowers considered case-by-case. A homebuyer education course is required, through NHS Greater Berks HUD-approved housing counseling program; pre-purchase 8-hour homebuyer education and one-on-one counseling required. Residency requirement: Property must be located within NHS Greater Berks's Berks County / Reading service area and be the buyer's primary residence. Citizenship or immigration status: U.S. citizen or eligible non-citizen. Buyer must apply directly to NHS Greater Berks, occupy the property as primary residence, complete NHS pre-purchase counseling and 8-hour homebuyer education, and meet a 620 minimum FICO. Household income approximately $52,500 to $129,872 (Reading, PA MSA AMI tiers). Property must be located in NHS Greater Berks's Berks County / Reading service area. NHS underwrites HOP using portfolio guidelines that consider full credit history, alternative tradelines, and household budget.

HomeOwnership Program Financing (HOP) limits household income to 140% of the area median income, which varies by county and household size. Household income approximately $52,500 (1-person) up to $129,872 (8-person, ~140% Reading MSA AMI). Limits updated annually. 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.

HomeOwnership Program Financing (HOP) caps the purchase price as follows: Tracks NHS Greater Berks portfolio underwriting guidelines. Eligible property types include Single-family detached, Townhouse, Condominium, and 2-4 unit (owner-occupied). New construction is eligible. Manufactured homes are not eligible.

HomeOwnership Program Financing (HOP) serves homebuyers purchasing in Reading, Pennsylvania. The program targets specific areas: Berks County, PA and the City of Reading.

Applications for HomeOwnership Program Financing (HOP) go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through Direct-to-NHS application; first-come, first-served subject to NHS portfolio capacity. 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.