Allentown Homeownership Incentive Program

Home Ownership Incentives

Incentives

Home Ownership Outreach Program (HOOP)

What is it?

  • Provides down payment and closing cost assistance
  • In the form of a second mortgage loan
  • The loan is forgiven at a rate of 20% per year
  • It is totally forgiven after 5 years

Who is eligible?

  • First-time homebuyers (not bought home in last 3 years)
  • Purchasing in Lehigh and Northampton Counties
  • Income that fall under 80% median income
  • Must have a first mortgage from a bank of your choosing
  • Must have:
    • Acceptable credit
    • 2 years of verifiable employment
    • $1,700 in a checking or savings account for min. 90 days
    • Attended the Home Ownership Counseling Program Seminar
    • This is offered by the Community Action Committee of the Lehigh Valley (CACLV)

Façade Grant Program

This program is aimed at improving the external appearance of residential (and commercial) properties in Center City within the boundaries of Tilgham (north), Union/MLK Jr. Drive (south), Jordan Creek (east) and N 12th Street (west). Program grants are first offered to pre-selected owners of residential properties in priority areas in Center City to complement strategic public and private investments that have recently occurred or are currently taking place in those areas. Although the primary focus is on priority areas, the program will routinely receive applications from eligible property owners in Center City, whose applications will be considered on a first-come, first-served basis and on eligibility and availability of funds.

The Neighborhood Partnership Program is offering façade-improvement grants of up to $10,000 to eligible downtown homeowners.

Who is eligible?

  • Residential homeowners
  • Owners of occupied rental housing of 4 units or less

What is Available?

  • A straight grant of up to $10,000 if household income is equal to or less than 80% of the area median income
  • A conditional grant of up to $10,000 if household income is more than 80% of the area median income with a matching requirement of 51% of the grant from the homeowner

What can be done?

  • Brick repointing & stone masonry repair, repair/replacement of architectural metal treatments and woodwork, painting/cleaning, new doors, windows awnings and lighting.

How to get started!
Set up a meeting with CADCA (Community Action Development Corporation of Allentown).

523 N. 7th St. Allentown, PA (610)-433-5703

Complete the application and submit to CADCA.

Habitat for Humanity Lehigh Valley

Are you a hardworking individual who dreams of owning your own home in Allentown?

Habitat for Humanity’s vision is a world where everyone has a decent place to live. anchored by the conviction that housing provides a critical foundation for breaking the cycle of poverty, Habitat has helped more than 4 million people construct, rehabilitate or preserve homes since 1976.

Criteria for Becoming a Homeowner

  1. Must meet income guidelines.
  2. Credit scores above 600.
  3. There must be a need for decent and affordable housing.
  4. Must be able to make low monthly mortgage payments that include taxes and insurance (about $750).
  5. Must be able to save $1,500 for closing costs.
  6. Must e willing to partner with Habitat by volunteering at least 250 hours (sweat equity) helping to build their home and other habitat houses, as well as attend homeownership and budgeting classes.
  7. Debt cannot exceed 43% of income.
  8. Habitat housing cannot exceed 30% of income.