Through First Front Door (FFD), FHLBank Pittsburgh (Bank) will work with one of our member financial institutions to assist with your closing costs and down payment. For every $1 of contribution you make, the Bank will provide $3 in grant assistance, up to a maximum of $5,000.
Homebuyer contributions can take the form of savings, a gift, a tax refund, an inheritance or other funds you, the homebuyer, put into the deal. Contributions may not include another grant or forgivable loan.
Do I Qualify for FFD?
Each prospective homebuyer must:
- Be a first-time homebuyer (not owned a home within the past three years, or owned a home only while married but not as a single person within the last three years – this includes a married couple if either has not owned a home in the past three years).
- Contribute personal funds as part of the down payment and closing costs.
- Have an income at or below 80 percent of the area median income at the time of FFD program enrollment. To check income limits for all states (use low-income limit) click here.
- Not be a student working less than 30 hours per week.
- Complete at least four hours of homeownership counseling from an approved counseling agency prior to the purchase of the home. Counseling must include the topic of predatory lending.
- NOT receive more than $250 cash back at loan closing.
- Retain the home for five years from the loan closing date in order to keep the full amount of the grant.
Does My New Home Qualify for FFD?
Qualified first-time homebuyers can use FFD grants toward closing costs and down payment assistance on eligible properties that are intended as the primary residence of the homebuyer at the time of program enrollment. These properties include single-family homes, townhomes, condominiums and modular units. Manufactured homes may be eligible if they are permanently affixed to a site. Investment properties are not eligible for FFD assistance.
How Do I Apply?
- Call a contact person from a list of participating member institutions.
- Visit the participating member institutions branch location to discuss their mortgage process and ask for a First Front Door grant.