City of Williamsport - Home Buyer Assistance

NEW! The City of Williamsport offers Home Buyer Assistance for eligible buyers of newly constructed homes in West End Terrace!

Applications may be submitted by contacting the above developer or calling the Community Development Office at 327-7511. Credit status and household income are verified and are important considerations.

The program offers up to $55,000 in second mortgage financing as a 0% interest, 30 year deferred repayment loan with 50% forgiveness after 20 years. The home must remain the buyer’s primary residence for a minimum of 20 years to receive forgiveness.

The loan is due any time the home is no longer the buyer’s primary residence, or if the buyer commits any instance of default, or at the end of 30 years. The original buyer must occupy the unit as their primary residence until city mortgage lien is satisfied.

The City mortgage is not assumable by a new buyer.

All applicants must meet HUD income requirements.

Applicants must invest $2,500 of their personal funds into the sale.

Buyers must attend Credit Counseling or Homebuyer Training.

Other basic requirements, such as ability to pay, credit history, and HUD income limits apply. Call 570-649-5701 or contact the Community Development Department for more information

HOME BUYER ASSISTANCE PROGRAM II

With Federal Community Development Block Grant and HOME funds, the City of Williamsport also assists income eligible households purchase an existing home. A maximum of 20% of the purchase price is available as a 0% interest, deferred repayment loan. The following guidelines must be met.

The home must be located in the City of Williamsport Corporate limits.
The home must be a single family unit.
The home must pass a city occupancy inspection.
The applicant must obtain the maximum private funding available (at least 80% of the purchase price) from private financing sources such as banks, credit unions... OBTAINING PRE APPROVAL OF FIRST MORTGAGE FINANCING IS STRONGLY RECOMMENDED.
The applicant must contribute at least 4% of the purchase price in to the project. City funding may not exceed 20% of the purchase price.
Standard banking and credit inquiries are done as part of the City application process. Credit status and income are verified and are an important consideration.
City funds are available as a 0% interest, deferred repayment loan.
The property must become the primary residence of the buyer and remain the buyers primary residence for the loan term.

To add your name to our Home Buyer Assistance waiting list complete the form below or contact the Community Development Office at 570-327-7511.