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The Redevelopment Authority of the County of Washington has established the Highland Ridge Homebuyer Assistance Program to assist homebuyers in attaining their goal of home ownership by providing financial assistance for the purchase of newly constructed houses in the Highland Ridge Neighborhood within the City of Washington. Basic Eligibility Requirements:
1. Annual household income must not exceed 80% of the Median Family income for the Pittsburgh MSA as determined by HUD and adjusted based on family size.
Family of 1 - $35,000
Family of 2 - $40,000
Family of 3 - $45,000
Family of 4 - $50,000
Family of 5 - $54,000
Family of 6 - $58,000 2. Homebuyers must have the financial capability to provide a cash payment of 2% of the purchase price of the house. The purchase price of the house will be approximately $85,000, the actual price will be determined by an appraisal. 3. Homebuyers must obtain a mortgage loan from a participating lending institution for the maximum amount they can afford to pay, but in no event will the mortgage loan be less than $52,700. 4. Homebuyers must have successfully completed a HUD approved homebuyer counseling/training program. All eligibility requirements must be met for participation. This includes requirements not listed above but included in the H.A.P. guidelines. What to expect:
Once we receive your pre-application, we will send you a letter stating that we have received your pre-application and that you have been placed on our waiting list. When funding becomes available, a Community Development Specialist will contact you to start processing your application. Program Benefits
*Own a brand new home for as little as $500 a month
*Choice of numerous lot locations and different house styles
*All homes are energy star rated to maintain low utility costs Remember:
Funding for programs is not guaranteed. The number of annual participants may vary. |
