Beaver County First Time Buyer Program

Each year, Beaver County allocates funds towards down payment and closing cost assistance for low and moderate-income people who are buying their first home in Beaver County, Pennsylvania. The First Time Buyer Program allows for a down payment and closing cost assistance grant if an applicant’s income is at or below 80% of the area’s median income. See chart below for complete income qualification guidelines.  

Available Assistance 
The amount of assistance available is determined by individual needs. The applicant must not have $5,000 in liquid assets at the time of closing. The amount of the assistance grant is forgiven at 20% per year and is totally forgiven after five (5) years. If the home is sold prior to the anniversary date of five (5) years the remaining grant must be repaid. 

Income Limits 
1-person household: $47,500 
2-person household: $54,300 
3-person household: $61,100 
4-person household: $67,850 
5-person household: $73,300 
6-person household: $78,750 
7-person household: $84,150 
8-person household: $89,600 

*Seller-funded down payment programs were eliminated in the Housing and Economic Recovery Act of 2008, but states and local government agencies are still permitted to help borrowers finance their homes with second mortgages and grants. These agencies set different requirements that a borrower needs to meet in order to qualify for the grant programs, such as property location, and purchase price, and income limits.       

 
Note: All figures mentioned above were accurate at the time of publication and may no longer be current. Visit the program website for updated information.