William Penn Bank to participate in First Front Door funding to help first-time homebuyers with grants up to $5,000

The 2023 funding round for First Front Door (FFD) is now open with $8.5 million available in homebuyer grants. FFD provides down payment and closing cost assistance to qualified first-time homebuyers with incomes at or below 80% of the area median income.

The program provides a 3-to-1 matching grant. For every $1 provided by the homebuyer, FFD will provide $3 in assistance, up to $5,000.

To qualify for the First Front Door Grant, you must:  Confirm that you are a first-time homebuyer who has not owned a single-family home used as their primary residence in the last three years. This also includes if purchasing jointly with other individuals, at least one person has not owned a single-family, primary residence in the last three years.  Potential borrowers must commit to owning the home for five years, complete required homeownership counseling prior to closing and contribute personal funds toward down payment and closing costs.

Don’t worry if you have questions! William Penn Bank, a participating lender will review these and other FFD requirements with you. Don’t wait call today – limited funding available.

For more information contact Alex DiTullio, Vice President, Mortgage Lending Officer. Direct Number: 856-656-2201 ext. 1058.  NMLS #1612758.  William Penn Bank is Equal Housing Lender and Member of the FDIC.

First Front Door is offered by members of FHLBank Pittsburgh.

Homebuyers must finance their first mortgage through a participating FFD provider to access the FFD funds.

Photo Cap: As a first-time homebuyer, you could qualify to receive up to $5,000 toward your down payment and closing costs.

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