NexTier Bank is a proud supporter of First Front Door, a program that assists first-time home buyers with closing costs and down payments. The program, offered in conjunction with the Federal Home Loan Bank of Pittsburgh, matches your down payment 3 to 1, up to $5,000 and the process is simple!
To qualify you must:
Be a first-time homebuyer (which means you haven’t owned a home within the past three years, or you owned a home only while married but not as a single person within the last three years – this includes a married couple if either has not owned a home in the past three years).
Secure a first mortgage through NexTier Bank.
Have an income at or below 80 percent of the area median income.
Not be a student working less than 30 hours per week.
Complete at least four hours of homeownership counseling prior to purchasing the home.
Agree to maintain the home for five years to retain the full amount of the grant. If a sale occurs before the five years expire, a portion of the grant may be required to be repaid.
Why should you buy a home instead of renting? Although homeownership does come with other financial obligations, owning your own home can save you money in the long run. When you purchase your own home, you are building equity that can be used for future purchases, or in those retirement years. For those with long-term plans, it often makes sense to buy. Current market conditions are ripe for homeownership, interest rates are low, and homes are more affordable. The First Front Door program offered by NexTier Bank makes your dream possible.