Municipal News
- Last Updated on Sunday, 02 October 2016 12:05
Up to $10,000 is available right now to people who want to buy a home in Charleroi Borough … but they need to take advantage of it as soon as possible.
The money—available through the state’s housing trust fund—may be put toward a down payment or closing costs, said Jonathan Weaver, a housing counselor at the Mon Valley Initiative (MVI), which along with the Greater Charleroi Community Development Corp. is helping home buyers get access to the funding.
Fourteen people have already received similar assistance to purchase houses across the river in Monessen, Westmoreland County, but no one has yet requested the help in Charleroi, he said.
“We’ve had success in Monessen, and we’d like to see the same thing happen in Charleroi,” Weaver said. “There are a lot of good houses for sale right now in the borough.”
MVI wants to receive applications before Dec. 31, 2016. More information is available at www.bit.ly/charleroi16.
Money for the program comes from the Pennsylvania Housing Affordability and Rehabilitation Fund, or PHARE, created by the state legislature in 2010. In Charleroi Borough, the money is administered by the Redevelopment Authority of the County of Washington.
The funding in Charleroi is available to people who want to purchase a house for their primary residence—it may not be used for purchase of a rental property, Weaver said. And the assistance may not exceed 50 percent of the purchase price of the house.
There are income eligibility requirements, he said. Applicants may not have an annual income more than 80 percent of the so-called Area Median Income (AMI). In Washington County, the AMI ranges from $39,900 for a single person, living alone, to $56,950 for a family of four.
Applicants must complete free Homebuyer Education training offered through the Mon Valley Initiative, and they must pre-qualify for a mortgage—Weaver said MVI can provide assistance with applying for a mortgage—and the home they’re purchasing must pass an independent code inspection.
Applicants and others who want more information about the program should call Weaver at 412-464-4000, extension 4008, or email jweaver@monvalleyinitiative.com.
