First Front Door Homebuyer Grant
Receive grant assistance up to $5,000 for qualifying first time homebuyers to help finance mortgage costs.
What is the First Front Door Homebuyer Grant Program?
First-time homebuyers who finance their mortgage through New Tripoli Bank can apply for up to $5,000 in grant assistance through the First Front Door program. These funds can be used to help with your down payment or closing costs. For every $1 you contribute, First Front Door will provide $3 in assistance, up to a maximum of $5,000. Talk to your lender to understand how First Front Door will work with your home purchase.
Who qualifies for First Front Door funding?
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 New Tripoli 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.
What are the benefits of the grant?
- For every $1 you contribute, First Front Door will provide $3 in assistance, up to a maximum of $5,000
- $150 processing fee waived
- $350 document preparation fee waived
- Convenient payment options... talk to a lender today for more info!
How do I apply for a First Front Door grant?
A New Tripoli Bank mortgage lender will review these and other program requirements with you. Start the process today! Call to make an appointment at (610) 628-1828.
The 2022 First Front Door funding round will open on March 14.
Effective Date: Thursday, March 30, 2023
|Terms||Points||Annual Percentage Rate (APR)||Interest Rate||Monthly Payment Per $1,000 Borrowed|
*APR is based on $100,000.00 loan amount
**Maximum loan to value ratio is 80% (up to 95% allowed with PMI)
"For credit secured by a first lien on a dwelling, payments do not include amounts for taxes and insurance premiums, if applicable, and the actual payment obligation will be greater."