Homeownership Affordability Fund
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Homeownership Affordability Fund Down-payment/closing cost assistance for low- to moderate-income (LMI) families and properties in LMI areas Pittsburgh Community Reinvestment Group, in conjunction with Fifth Third Mortgage Company, will assist low- to moderate-income individuals, or those looking to buy in low- to moderate-income areas to make an application for a down-payment/ closing cost assistance grant up to $1,500. PITTSBURGH COMMUNITY REINVESTMENT GROUP 1901 Centre Avenue, Suite 200 Pittsburgh, PA 15219-4378 www.pcrg.org © 2014 Pittsburgh Community Reinvestment Group
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The Homeownership Affordability Fund (HAF) and PCRG, with support from Fifth Third Mortgage Company, will offer first-time The Homeownership Affordability Fund (HAF) and PCRG, with support from Fifth Third Mortgage Company, will offer first-time homebuyers the final piece of financial assistance they may need to purchase a home affordably. The HAF provides up to a $1,500 down payment or closing cost assistance grant to eligible Fifth Third Mortgage Company borrowers. For more information, click here.the final piece of financial assistance they may need to purchase a home affordably. The HAF provides up to a $1,500 down payment or closing cost assistance grant to eligible Fifth Third Mortgage Company borrowers.
Transcript of Homeownership Affordability Fund
HomeownershipAffordability FundDown-payment/closing cost assistance forlow- to moderate-income (LMI) families
and properties in LMI areas
Pittsburgh Community Reinvestment Group, inconjunction with Fifth Third Mortgage Company,will assist low- to moderate-income individuals, orthose looking to buy in low- to moderate-incomeareas to make an application for a down-payment/closing cost assistance grant up to $1,500.
PITTSBURGH COMMUNITY
REINVESTMENT GROUP
1901 Centre Avenue, Suite 200Pittsburgh, PA 15219-4378
www.pcrg.org
© 2014 Pittsburgh Community Reinvestment Group
The Homeownership Affordability Fund (HAF), and Pittsburgh Community Reinvestment Group(PCRG), with support from Fifth Third Mortgage Company, will offer first-time homebuyers the finalpiece of financial assistance they may need to purchase a home affordably. This program will beavailable exclusively to eligible Fifth Third Mortgage Company borrowers.
Homeownership Affordability Funddown payment / closing cost assistance
Contact Rachel Rue at 412-391-6732 ext. 202 or [email protected] for more information.
The applicant's mortgage loan application will continue to be processed even if the applicant is not approved for the grant fund, unless themortgage loan application is withdrawn by the applicant. If the grant application is denied, the applicant will be responsible for ensuring sufficientfunds are available for down payment and/or closing costs related to the pending mortgage loan.
Loans subject to credit review and approval. Prices and programs subject to change without notice. Fifth Third Mortgage Company, 5001 KingsleyDrive, Cincinnati, Ohio 45227 an Illinois Residential Mortgage Licensee. Fifth Third Mortgage Company d/b/a Fifth Third Mortgage CompanyIncorporated and licensed by the New Hampshire banking department. Fifth Third Mortgage is the trade name used by Fifth Third MortgageCompany (NMLS #134100) and Fifth Third Mortgage-MI, LLC (NMLS #447141). Fifth Third Bank, Member FDIC. Equal Housing Lender.
Pittsburgh Community Reinvestment Group, in conjunctionwith Fifth Third Mortgage Company, will provide up to a$1,500 down payment or closing cost assistance grant toeligible Fifth Third Mortgage Company borrowers. The grantconsideration and approval process will be the sole responsibilityof PCRG; Fifth Third Mortgage Company personnel will notbe involved in the income eligibility verification for the grant.
To be eligible, grant applicants must:
• Have household incomes at or below 80 percent of thearea median income, as defined by the U.S. Departmentof Housing and Urban Development (HUD);
OR
• Be borrowers purchasing a home in low- to moderate-incomecensus tracts;
Funds only available to Fifth Third Mortgage Company borrowersas noted above.
Path to Approval
• Grant applicant applies for a mortgage withFifth Third Mortgage Company.
• Fifth Third submits eligibility information to PCRGfor verification.
• PCRG verifies eligibility.
• Within 15 business days of receiving a completedapplication through Fifth Third Mortgage Company,PCRG will send a denial/approval letter to the applicant.*
• Once the applicant is separately approved for a mortgage,PCRG will notify the borrower of the intent to releasegrant funds.
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