Non-profit creates program to assist county homebuyers
Last updated 9/18/2019 at 9:42pm
City of Bridges Community Land Trust is launching a Buyer-Initiated Program to help people purchase homes in Allegheny County.
City of Bridges Community Land Trust, a non-profit that creates and stewards permanently affordable homes, has a new program to help low- and moderate-income families purchase homes in the Greater Pittsburgh Region. The Buyer Initiated program is the CLT’s newest innovative, offering down payment assistance grants to first-time homebuyers.
The program provides income-qualified, mortgage-ready homebuyers with flexible grants of up to $30,000 to put toward a down payment, closing costs, or home repairs on homes in Pittsburgh listed at $150,000 and less.
In return, homes become part of City of Bridges Community Land Trust when purchased. The homebuyer attains ownership of the home, while the CLT owns the land, ensuring the home remains affordable in perpetuity.
Potential homebuyers from the Pittsburgh area at or below 80 percent of the area’s median income qualify for the program. For example, for a family of four, a total household income of up to $63,900 is eligible to apply.
“This program–built on national best practice–will allow us to bring permanently affordable homeownership opportunities to working families, in homes, they identify that suit their needs. We are excited to be rolling out this new-to-Pittsburgh model in our region.” Julia Pascale, City of Bridges’ program coordinator explains.
For more information on this program, contact City of Bridges program coordinator, Julia Pascale at 412-621–1811 x 103 or visit cityofbridgesclt.org.