There are a few options for Buyer's in Lehigh & Northampton County. I believe this is the best kept secret in the Lehigh Valley Area when it comes to helping buyer's with purchasing a home. Currently there is little marketing for this program, in my opinion and the requirements you must meet to participate with the programs are worth checking out.
HOOP Program = HomeOwnership Outreach Program - Local Lehigh Valley Program
This Program is offered by the Neighborhood Housing Services of the Lehigh Valley, Inc. 239 North 10thStreet Allentown, PA 18102 610-437-4571 ATT: Rosa Gomez Home outreach Coordinator.
Lehigh County Area Program Features: Without getting too detailed. Depending on your income and family size, they will help subsidize down payment and closings costs for purchasing homes in Lehigh County (Schnecksville, Egypt, Coplay, Catasauqua, Fountain Hill, Coopersburg, Whitehall, Emmaus, Trexlertown, Macungie, Alburtis, Wescosville, Fogelsville, Salisbury, Slatington etc.) Properties in the cities of Allentown and Bethlehem are not eligible for this program. Lending Institutions must provide 95% of the purchase price. The HOOP program will provide the remaining 5%, plus all the closing costs at 0% interest, with the exception of private mortgage insurance and no more than one point. The HOOP loan will be 100% forgiven after 5 years of ownership occupancy! THERE ARE OTHER QUALIFICATIONS FOR THIS PROGRAM. Please contact me if you would like to get pre-qualified for this program or would like my guidance in purchasing your future home.
Allentown, Bethlehem, Easton and Northampton County Program Features:Without getting too detailed. Depending on your income and family size, they will help subsidize down payment and closing costs for purchasing a home in the City of Allentown, City of Bethlehem, The City of Easton and Northampton County. Lending institutions will provide 90% of the financing. The HOOP program will provide the remaining 10% plus closings costs. The HOOP loan will have an interest rate of 3% with a max term of 30 yrs. Upon sale of the property, the balance of the HOOP loan and any interest and late charges accrued must be paid to HOOP. The HOOP funds will be secured as a second lien mortgage. THERE ARE OTHER QUALIFICATIONS FOR THIS PROGRAM.
Lehigh & Northampton Over 80% (higher Income Limits) Program Features:Without getting too detailed. Depending on your income and family size, they will help subsidize down payment and closing costs for purchasing homes in the cities of Allentown, Bethlehem, Easton and the counties of Lehigh & Northampton. You must get a loan from a lender for 95%, qualified applicants are eligible to receive 5% loans for the remaining 5% of the purchase price plus closing costs. The loans will have a max term of 30 yrs and will be secured as a second lien mortgage. Upon sale of the property, the balance of the loan and any interest and late charges accrued must be paid to HOOP. THERE ARE OTHER QUALIFICATIONS FOR THIS PROGRAM. Please contact me if you would like to get pre-qualified for this program or would like my guidance in purchasing your future home.
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I hope this information was helpful!
PLEASE REPORT TYPOS
I am very interested in a house in Bethlehem, but I will need a down payment assistance program that could help me with $10-15,000. Do you think this is possible. Reason is that I will like to be able to pay my monthly mortgage payment.
Hello Luz!
Well, the best way to see if this program can help you reach your goals is to talk to a Mortgage Consultant that works with the Programs and they will be able to tell you if you would be able to get help from any of these programs. I would like to suggest that you talk to Melissa Falcone of Allied Home Mortgage, she is located in Bethlehem so it could be a perfect match for you.
The reason I like Melissa is because she is NOT high pressure and she will not tell you want you want to hear...she will tell you the truth and then help you reach your goal. She will fit the best programs that fit your needs and your monthly payment goals too! YOU can contact her or she can call you...you can get her on her Cell anytime 7 days a week 610-554-1982. BEST OF ALL Melissa does not charge anything to help you with the pre-qualification process....she only asks that if she can help you and you are satisfied with what she can do for you that you allow her to help you through to the end.
Are you working with an Real Estate Agent yet? IF NOT, I would love to get the opportunity to represent you as your BUYER'S Agent.....and help you through the entire process.
Email, Text or give me a call....we look forward to helping you.
Hello Natalie! Well, it is not a matter of one program being better than the other. It depends on where you want to purchase a home and for what reason you need help with buying a home. PHFA has programs for Disabled people and other types of programs. Also, PHFA is through out PA. HOOP is only in the Lehigh Valley area. So, the best thing to do is get the help of a Buyer Agent who can walk you through the process starting with a non pushy Mortgage Advisor who will give you help with what loans fit your needs and fit your monthly payment comfort zone.
We would be happy to walk you through every step while building trust and proving to you we are here to help you and here when you need us.