URA Grants Funds for Low-Income and First-Time Homebuyers to Purchase Homes
The City of Pittsburgh is offering low-income and first-time homebuyers a chance to receive funding from the Urban Redevelopment Authority’s (URA) OwnPGH grant program. This program was designed to promote affordable homeownership in the City of Pittsburgh, by providing grants and second mortgage financing to homebuyers whose income falls at or below 80% of the Area Median Income (AMI).
The OwnPGH program offers participants up to $90,000 in grants and forgivable loans, with $50,000 in grants and $40,000 in loans available through the URA and the city’s housing authority. Furthermore, eligible borrowers can also qualify for the Down Payment and Closing Cost Assistance Program (DPCCAP), which provides an additional $7,500 in forgivable loans.
In order to be eligible for the OwnPGH program, individuals must pre-qualify for a home loan through one of URA’s three bank partners. They must also not exceed 80% of AMI and plan to own a property within the City of Pittsburgh. Unfortunately, properties outside of the City of Pittsburgh do not qualify for OwnPGH assistance.
To learn more about OwnPGH, its income limits, and how to apply, interested individuals can visit the Urban Development Authority’s website. Contact information for the participating bank partners is also available on the site. This is a great opportunity for low-income and first-time homebuyers to receive funding to make their home ownership dream a reality.