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What is the Growing Homeowners Initiative?
A matched savings initiative to help individuals and families turn the dream of purchasing a home into a reality.
How can Growing Homeowners Initiative funds be used?
1. The saved money and match money must be used toward the purchase of a home in Luzerne County.
2. The money can be used toward closings costs, down payment, or a combination of both.
3. The match money is secured by a second mortgage that is forgiven over a five-year period.
How does the Growing Homeowners Initiative work?
Currently, interested people who apply and are determined financially within the guidelines must commit to the following:
1. Opening a savings account and starting a savings plan for at least a 90-day period. Length of time in program will vary for each participant.
2. Working with a homeownership specialist to set a goal and an action plan on how to achieve the goal.
3. At the closing on a purchase of a home, your savings will be matched $2 for every $1 saved. The amount of matching funds provided will not exceed $7500.
4. Attending at least three (3) homebuyer readiness workshops including such topics as developing a budget/credit and credit repair, obtaining a loan, finding a real estate agent, etc.
*Additional assistance may be available depending on household income
Who is eligible for the Growing Homeowners Initiative?
Anyone interested in purchasing a home now or in the future whose household income does not exceed the guidelines listed below --
Household Size Annual Income Limit
1 person $37,500
2 people $42,900
3 people $48,250
4 people $53,600
5 people $57,900
6 people $62,200
7 people $66,500
8 people $70,800
How does someone apply for the Growing Homeowners Initiative?
Basic steps to apply for the initiative are:
1. Fill out an application and send it to the HDC office -- the Home OwnershipSpecialist will call to set up an appointment.
2. Attend appointment with the Home Ownership Specialist; bring income verification and social security cards for the entire household.
For more information or to apply, please contact:
Housing Development Corporation
570-824-4803 (Wilkes-Barre)
or 570-501-1030 (Hazleton)
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