First Front Door with Quaint Oak Mortgage
As a proud provider of the First Front Door (FFD) program, Quaint Oak Mortgage is dedicated to making the homebuying process more accessible and affordable for everyone. Our expert mortgage bankers are well-versed in the First Front Door homebuyer grant program, offered by FHLBank Pittsburgh, and are committed to assisting eligible homebuyers in obtaining the funding they need.
Let us guide you through the FFD process and help you achieve your dream of homeownership.
Benefits of Receiving a First Front Door Grant
Are you a first time homebuyer looking for assistance with closing costs and down payments? With the First Front Door Grant program, homebuyers who contribute a minimum of $1,500 towards their down payment and closing costs are eligible for a maximum grant of $15,000. The First Front Door Keys grant requires a minimum contribution of $1,000 for a maximum grant of $20,000.
Homebuyer contributions can take the form of personal savings, qualifying gift, tax refund, inheritance, or other funds accumulated by the homebuyer meeting guidelines. Funds for the First Front Door Grant are available on a first-come, first-served basis until all funds are exhausted.
Funding for 2024 has closed.
First Front Door Program Eligibility
To be eligible for the First Front Door Program, the property being purchased must be for use as the primary residence of the homebuyer at the time of enrollment. Eligible property types include single-family homes, townhomes, condominiums, modular homes, and eligible manufactured homes that are permanently affixed to the site. Multi-unit, second home, and investment properties are ineligible.
Prospective Homebuyer Requirements
Must Be a First-Time Homebuyer
You have not owned a home within the past three years, or 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.
Homebuyer Contribution
You contribute personal funds as part of the down payment and closing costs to be eligible for assistance.
Income Limits
The income of the entire household will be considered when determining eligibility for the program. Household income must be at or below 80% of the area median income at the time of program enrollment and not have assets in excess of $50,000. Income limits vary for all states, please contact a mortgage banker to verify that you qualify.
Retention Period
You must retain the home for five years from the loan closing date. If the homebuyer moves, sells, rents, or refinances the property before the five-year retention period expires, a prorated portion of the grant may need to be repaid. The FFD grant funds can only be used towards closing costs and down payment assistance.
Homebuyer Counseling
Complete at least four hours of homeownership counseling from an approved counseling agency prior to the purchase of the home. Approved counseling agencies have received accreditation from one of the following organizations:
- The U.S. Department of Housing and Urban Development (HUD)
- National Industry Standards
- Your State or State’s Housing Finance Agency
- Online Counseling Provided by eHome America Homebuyer Education and Certification
Getting Started with First Front Door
Interested in learning more about the First Front Door program? Our mortgage bankers will guide you every step of the way. Contact a member of the Quaint Oak Mortgage team and begin the process of buying your first home today.