Buy a Home
Down Payment & Closing Cost Assistance
TheYork Homebuyer Assistance Program (YHAP) is designed to assist first-time homebuyers with down payment and closing costs. There are actually two separate programs under the program, each with a few differences. The Community Progress Council is the current program administrator on behalf of the City of York and the County of York. Required completion of the homebuyer workshops are administrated by the Community Progress Council. Participants are also required to use a participating lender.
YHAP City and County funds are now available for 2014.
City of York
Applies to purchase within the city only. It provides a five year forgivable loan for 2% of down payment and up to 6%-8% of the sales price for closing costs (based on a scale). The maximum contribution cannot exceed $7,000.00. Please take time to review the City YHAP Inspection Guidelines before selecting a property for the program.
County of York
County will provide up to $5,000 in down payment and closing cost assistance. 2% of the eligible funding based on sales price towards down payment and the remainder towards eligible closing cost (does not include pre-paids). Please take time to review the County YHAP Inspection Guidelines before selecting a property for the program.
Before you write a contract which attempts to utilize this program, please make sure you have read over the guidelines. There are income, property and procedural guidelines that need to be followed. Please remember the transaction takes 55 days and the settlement date needs to reflect that.
Documents that need to be submitted to Diane Scott at York Community Progress Council by the REALTOR:
- YHAP Buyer Information Sheet
- Copy of the Agreement of Sale
- Financing Addendum to the Agreement of Sale
- Buyers Inspection Notice Form-COUNTY PROPERTY
- Sellers Inspection Notice Form-COUNTY PROPERTY
- Buyers Inspection Notice Form-CITY PROPERTY
- Sellers Inspection Notice Form-CITY PROPERTY
- Copy of Sellers Disclosure
- Copy of MLS print out
- REALTOR® business card
Dream Makers is a national down payment assistance program for first-time home buyers of modest means who help defend our nation. Grants are eligible for active duty and veteran military personnel as well as current employees of the Department of Defense and Department of Homeland Security. Grants can be used in conjunction with VA, FHA, and conventional mortgages from any lender in the nation. Applications can be submitted online at www.penfedfoundation.org/DreamMakers . Check out this flyer.
First Front Door Down Payment and Closing Cost Assistance
The First Front Door (FFD) program, sponsored by FHLBank Pittsburg, provides grant assistnace toward down payment and closing cost expenses for household with incomes at or below 80 percent of the area median income (AMI). FFD will match $3 to every $1 of the homebuyer's contribution, up to a maximum grant of $5,000. This year, FHLBank set aside $3.3 million dollars for FFD grant use! The demand this year is extremely high, and grants are awarded on a first-come, first-served basis. Check out this flyer for a list of lenders and here for more information.
Homebuyer Education Classes
The Community Progress Council offers homebuyer education that includes three 3-hour sessions. Sessions utilize local real estate experts and cover the home buying process from start to finish. Topics include fair housing, credit, mortgages, insurance, inspections and how to work with a REALTOR. These classes are a requirement of the York Homeuyer Assistance program and are free to the public. Anyone interested in attending these classes is required to register by contacting the Community Progress Council at 717-845-7176 or 1-800-892-5441. Click to see a list of scheduled classes.
Act 137 Closing Cost Assistance Program for Adams County
The closing cost assistance program helps qualified borrowers meet the financial requirements of a real estate settlement. This assistance may be used with various homeownership programs as a low interest loan that requires repayment on a monthly basis. Applicants may borrow from $2,000 to $7,000. To view program guidelines, click here: