|
|
Pennsylvania First Time Home Buyer Program
Special
Programs
 
The My Community Pennsylvania First Time Home Buyer Program Opens Doors for a
Fireman, Police Officer, Paramedic, Teacher, Healthcare Worker such as Nurse,
and Military Personnel.
This program features 3% down financing and you receive a $500 credit toward
closing costs. Also, you can have use part-time or overtime income from last 12
months to qualify.
Pennsylvania First Time HomeBuyer FHA Program
FHA $100 down program is available if you purchase FHA foreclosure.
FHA Single Family Mortgage Limits range from $271,050 to $425,000. Please visit
FHA mortgage limits
if your Metro Area doesn't appear below.
| Metro Area |
Single Family |
2-Unit |
3-Unit |
4-Unit |
| Pittsburgh |
$327,500 |
$419,250 |
$506,800 |
$629,800 |
| Philadelphia |
$420,000 |
$537,650 |
$649,900 |
$807,700 |
| Allentown |
$402,500 |
$515,250 |
$622,850 |
$774,050 |
| Harrisburg |
$271,050 |
$347,000 |
$419,425 |
$521,250 |
| Scranton |
$271,050 |
$347,000 |
$419,425 |
$521,250 |
VA Program
Zero down payment up to $417,000 loan amount
If you served during wartime for at least 90 consecutive days or
during peacetime for at least 181 consecutive days then you are
eligible for the VA Home Loan Program. If you are currently on
active duty then you are eligible for the program after 90 days of
active service. You are also eligible if you are on Reserve, as long
as you have served for at least six years, which can be
non-consecutive and in different branches of the Reserves. The
Reserve branches eligible for the VA Home Loan Program are Army
National Guard, Army Reserve, Air National Guard, Coast Guard
Reserve, Navy Reserve, Marine Corps.
Pennsylvania USDA Rural Program
Zero down payment with NO PMI or mortgage insurance. You must purchase home in
eligible county and there are maximum income limits. The income limit for
all non-high cost counties is $73,600. Philadelphia has $89,500 income limit.
List of INELIGIBLE COUNTIES: Adams, Allegheny, Beaver, Berks,
Blair, Bucks, Butler, Cambria, Carbon, Centre, Chester, Cumberland, Dauphin,
Delaware, Erie, Fayette, Lackawanna, Lancaster, Lawrence, Lebanon, Lehigh,
Luzerne, Lycoming, Mercer, Monroe, Montgomery, Northampton, Northumberland,
Philadelphia, Snyder, Washington, Westmoreland, and York.
Visit
USDA website to determine if a specific home is eligible for the program.
You will need full address with zip code.
Pennsylvania First Time Home Buyer Stats
| Average Home Sales List Price |
$285,683 |
| Foreclosure Rate |
1 in 199 homes |
| Best Places to Live |
West Goshen, Emmaus |
| Most Affordable Place to Live |
Youngstown |
Real Estate Pulse
 Pennsylvania has battled the downturn in the steel industry when jobs were
shipped overseas and now the housing market is struggling after many years of
booming real estate. Every market is experiencing a decline but Pennsylvania is
holding up better than any other state through the Great Recession. Foreclosures
are projected to increase in the coming year and a Pennsylvania first time home
buyer should be able to get a great deal on a home and a $8,000 tax credit as a
bonus.
Back to Top
|
