The Lower South Valley Land Bank announced the creation of a “Homebuyer Assistance Pilot Program” provided with funding from the Pennsylvania Housing Affordability and Rehabilitation Enhancement fund.
Eligible buyers may receive up to $10,000 toward their down payment, closing costs and other purchase-related expenses if they are purchasing an owner-occupied, primary residence in six municipalities, the announcement said: Ashley, Hanover Township, Newport Township, Nanticoke, Wilkes-Barre and Kingston.
To qualify, applicants must:
• Commit to occupy the property as their primary residence for at least five years following closing.
• Have a household income up to 200% of the area median income. For example, that cap would be $167,000 for a family of four. Applications from lower-income households will be prioritized.
• Be represented by a title company or attorney and have a scheduled closing date.
Applicants are limited to one application per residential property purchase and must complete and submit the online application at LSVlandbank.com/homebuyer. This site also contains information on required supporting documentation, the prioritization of applicants, and program requirements.
The program is designed to promote homeownership, stabilize neighborhoods and support long‐term occupancy in the land bank’s service area, the announcement said.
The Lower South Valley Land Bank is a public‐private partnership dedicated to returning vacant and tax‐delinquent properties to productive use.
