The homebuyer grant program of the FHLBank of Pittsburgh

Through First Front Door, the FHLBank will assist with closing cost and down payment by matching a qualified homebuyer's contribution 3-to-1, based on the buyer's need. For every $1 of contribution the buyer makes, the FHLBank will provide $3 in grant assistance, up to a maximum of $5,000. To receive the full $5,000, a homebuyer would need to contribute $1,667.

Participant contributions can take the form of savings, a gift, tax refund, inheritance or any other funds accumulated by the homebuyer. Contributions may not take the form of another grant or forgivable loan.

Funds are available on a first-come, first-served basis until all funds are exhausted. First Front Door money is provided by the FHLBank through a network of nearly 60 banks.

Eligible Properties

Qualified first-time homebuyers can use First Front Door grants toward down payment and closing costs on owner-occupied homes. These include single-family houses, townhomes, condominiums and modular units.

Homebuyer Eligibility Requirements

Each prospective homebuyer must:

• Be a first-time homebuyer (which means they have not owned a home within the past three years, or they owned a home only while married but not as a single person within the last three years).
• Contribute personal funds as part of the down payment and closing costs.
• Have an income at or below 80% of the area median income at the time of First Front Door registration. To check for all states (use low income limit) click here.
• Complete at least 4 hours of homeownership counseling from a participating counseling organization, prior to the purchase of the home, including the topic of predatory lending.
• Pay at least 15% of their monthly household income for PITI (principal, interest, taxes and insurance), NOT contribute more than $15,000 to the purchase of the home, and NOT receive cash back at loan closing. (Buyers paying <15% for PITI may still qualify, but a more thorough assessment of need is required.)
• Obtain a first mortgage from a participating bank.
• Retain the home for five years in order to keep the full amount of the grant. A second mortgage and note are made part of the original mortgage documentation. If the homebuyer sells or moves from the home before the five-year retenion period expires, a prorated portion of the grant may be recovered and repaid to the FHLBank.

How First Front Door Works
Prospective homebuyer calls or visits a participating member bank or asks housing counseling agency or REALTOR® for referral		Participating bank and homebuyer complete registration form and gather income verification documentation		Participating bank submits completed registration and income verification documentation to the FHLBank		Within 10 business days, the FHLBank notifies participating bank of registration approval and FFD amount or requests additional information or documentation
		Within 6 months, prospective homebuyer attends and completes homeownership counseling, buys home with participating bank providing a first mortgage and advancing eligible grant amount		Participating bank submits disbursement request with required documents to the FHLBank within		FHLBank disburses funds to participating bank