Washington County Homebuyer Assistance Program

Washington County Homebuyer Assistance Program is a deferred second loan for homebuyers in Washington County, Pennsylvania, administered by Redevelopment Authority of the County of Washington (RACW). RACW's Homebuyer Assistance Program helps low- and moderate-income first-time buyers purchase (and rehabilitate) single-family homes in Washington County via two 0% deferred loans: a down payment loan of 17%-26% of price plus closing costs, and a rehabilitation loan up to $24,500 forgivable over 10 years. 0% deferred DPA of 17%-26% of price + closing costs. up to $24,500 rehab financing (forgiven over 10 yrs). first-come first-served. Funding comes from HUD HOME and CDBG funds allocated to Washington County.

Washington County Homebuyer Assistance Program provides assistance worth 26% of the purchase price, as set by the program. Award tiers: Down payment assistance (0% deferred loan): low-income 26% of purchase price + closing costs (17% if funding limited); moderate-income 17% of price + closing costs. Separate rehabilitation loan up to $24,500, forgiven 10%/yr over 10 years. The program asks homebuyers to contribute 3% of the purchase price (cash) from buyer. Amounts are the program's published maximums, not an offer — Redevelopment Authority of the County of Washington (RACW) determines any individual award.

Washington County Homebuyer Assistance Program is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off. Repayment is triggered by DPA loan due/payable on payoff of first mortgage, refinance, sale/disposition, or when property ceases to be principal residence; HOME recapture applies during the 5/10/15-year affordability period. The assistance is recorded in Subordinate (second/junior mortgage) position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Washington County Homebuyer 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: Displaced homemakers are exempt from the 3-year no-ownership requirement. A homebuyer education course is required, through HUD-approved homebuyer pre-purchase counseling class. Residency requirement: Home must be in Washington County and occupied as principal residence. Pre-applications by mail only; waiting list. Low-income buyers obtain 71% first mortgage; moderate-income 80%. 6-month income eligibility window. Max assistance caps not published on source.

Washington County Homebuyer Assistance Program limits household income to 80% of the area median income, which varies by county and household size. Household income must not exceed 80% of the Pittsburgh MSA median family income (HUD), adjusted for family size, throughout a 6-month eligibility window. Moderate (80% AMI) 4-person $88,300; low (50% AMI) 4-person $55,200. Limits subject to change. 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.

Washington County Homebuyer Assistance Program can be used for Single Family. New construction is not eligible.

Washington County Homebuyer Assistance Program serves homebuyers purchasing in Washington County, Pennsylvania.

Applications for Washington County Homebuyer Assistance Program go through Redevelopment Authority of the County of Washington (RACW), which publishes the current terms and the application steps on its own site. Funds are reserved through Pre-applications accepted by mail only; reviewed first-come first-served as funding permits; waiting list. 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.