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FAQs

Is it a loan or a grant?

The Arriving Home loan program offers a fixed-rate second mortgage loan to be paid back over a set term. The interest rate is 2% over the first mortgage lender’s interest rate. 
 

Are there any fees?

There are standard program closing costs for the second mortgage assistance, plus any other fees associated with the loan.
 

Why do I have to meet with a homeownership counselor?

All borrowers must complete approved homebuyer education and counseling to participate in the Arriving Home loan program, because we want to set you up for successful homeownership.

Becoming a prepared homebuyer takes time. Our counseling and education team is here to help first-time buyers like you become comfortable, confident, and informed as you plan for and make your purchase.

Also, you must meet with a homeownership counselor six months after closing and annually, for 7 years after closing. The annual check-in is designed to support you along your homeownership journey. Whether you want to review your budget as you plan for home improvements, or you’re experiencing an unexpected life event, like a job or income loss, and need help prioritizing bills, we'll be there for you.
 

Can I combine the loan with other down-payment or closing-cost assistance?

Yes, the Arriving Home loan program allows you to combine other down payment-closing costs assistance programs with this loan.
 

Other questions?

Contact us by email or call 412-281-9773. 

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