Arriving Home Down-payment Assistance Program Welcomes More Lending Partners
PITTSBURGH (May 6, 2021) – NeighborWorks Western Pennsylvania is pleased to announce partnerships with four additional financial institutions through Arriving Home, a down-payment and closing-cost assistance program for first-time homebuyers. Bank of America, Brentwood Bank, Northwest Bank, and SSB Bank are now approved first-mortgage lenders for the program, which makes homeownership more accessible to low- and moderate-income households across the region.
They join Citizens Bank, Dollar Bank, Huntington Bank, PNC Bank, Union Savings Bank (USB), and WesBanco as Arriving Home lending partners.
Arriving Home offers a standard fixed-rate, second-mortgage loan to eligible first-time homebuyers in Western Pennsylvania. Eligible borrowers must obtain a first-mortgage loan from one of the program’s 10 lending partners. Plans call for additional financial institutions to join the program this year.
“We’re excited to welcome our new partners to the Arriving Home program,” said Colin Kelley, CEO, NeighborWorks Western Pennsylvania. “Their participation expands the number of first-mortgage lending partners, which increases options for first-time homebuyers who otherwise thought homeownership was out of reach.”
To be eligible, the property must be a primary residence, single-family dwelling, to be occupied by the owner.
NeighborWorks Western Pennsylvania recently expanded income eligibility for the program. (Click here to learn more about income, property, and other program requirements.)
“One of the most common barriers to buying a home is not having enough money saved for a down payment or closing costs,” said Jonathan Newell, relationship and lending manager, NeighborWorks Western Pennsylvania. “With this affordable loan, an eligible borrower can bring as little as $1,500 of their own funds to the table toward the down-payment/closing costs of their first home.”
Arriving Home allows homebuyers to preserve their savings, so they are better prepared to address unplanned issues as a homeowner, supporting long-term homeownership in a financially sound manner.
All borrowers must complete approved homeownership counseling and education before closing. Additionally, the program requires counseling after purchase.
As a non-profit housing counseling agency, approved by the U.S. Dept. of Housing and Urban Development, NeighborWorks Western Pennsylvania provides services across the entire spectrum of homeownership, from preparing homebuyers to preventing foreclosures. Over the past two years, the organization has helped more than 500 people achieve their dream of homeownership.
For complete program requirements and terms, visit: https://www.neighborworkswpa.org/homebuyerhelp.
Communications & Marketing Manager
NeighborWorks Western Pennsylvania
About NeighborWorks Western Pennsylvania
For more than 50 years, NeighborWorks Western Pennsylvania has promoted stable, vibrant communities by providing our neighbors with comprehensive homeownership services. Legendary community organizer Dorothy Richardson founded our organization, then known as Neighborhood Housing Services, to address the lack of safe and affordable housing on Pittsburgh’s Northside. The success of Richardson and her neighbors, using a resident-led model, inspired NeighborWorks America, a national network of community-based organizations. Today, NeighborWorks Western Pennsylvania is a leader in sustainable homeownership, preparing first-time homebuyers and supporting homeowners in Western Pennsylvania through one-on-one counseling, online education, and down-payment assistance. Our team of homeownership counselors adhere to the highest standards of quality and accountability in the industry. Learn more: www.neighborworkswpa.org.