Gifts that Keep On Giving: The URA’s Housing and Housing Opportunity Fund Departments are Here to Help
Did you know that the URA’s Housing Department and the newly created Housing Opportunity Fund (HOF) Department offer a wide variety of programs to help Pittsburgh residents, including those at very low income levels, buy a home or rehabilitate an existing home?
One of the oldest and most popular programs is the Pittsburgh Home Rehabilitation Program (PHRP) which provides 0% interest loan financing to fix up a home for households less than 80% Area Median Income (AMI).
A smaller, yet similar program is the Home Emergency Loan Program (HELP), which is a 0% interest loan to help homeowners make emergency repairs to correct immediate health and safety hazards.
Additionally, the URA runs the Home Accessibility Program for Independence (HAPI). HAPI provides grants up to $10,000 to provide accessibility improvements to one’s home. To qualify for HAPI, the borrower or tenant must make less than 120% AMI.
The URA, in partnership with local lenders and the Pittsburgh Community Reinvestment Group, offers the Community Acquisition & Rehabilitation Program (CARL). CARL is a loan to provide a 15% guarantee on your bank loan so you do not need private mortgage insurance.
Soon, the HOF will offer brand-new consumer-oriented programs.
This month, the URA will launch a Down Payment and Closing Cost Assistance Program (DPCCA), providing $7,500 in DPCCA to first-time homebuyers underneath 80% AMI, and $5,000 in DPCCA to first-time homebuyers between 80% and 115% AMI.
In the first quarter of 2019, the HOF Homeowner Assistance Program will be available to help homeowners underneath 50% AMI make much needed repairs to their homes.
Funding will also be available through the HOF’s new Housing Stabilization Program to help Pittsburgh residents pay their rent during emergency situations. In upcoming months, the URA will issue a Request for Proposals for Social Service providers to participate in that program.
The URA is here to help. Check out this chart outlining the current AMI levels for URA’s programs. Contact 412.255.6639 for more information.