One of my favorite local housing advocacy groups, the Lancaster Housing Opportunity Partnership (www.LHOP.org), received funding today to extend interest-free loans of up to $5,000 or 8% of purchase price to first-time homebuyers in Lancaster City. Now LHOP has been in this business for quite some time, and they have done a great job of promoting it's programs. The trouble has been that public funding for the homebuyer assistance has been insufficient to meet demand. The program requires that applicant attend a 10-hour class series on homebuyer preparedness and meet certain financial qualifications. The funding influx approved today (the actual money won't be available for another month) was the result of a County Commissioners decision to allow the Lancaster County Redevelopment Authority to release HUD funds to LHOP - something good coming out of Duke Street! It's only $50,000, warns LHOP staffer Courtner Byers, so it may go fast...if you're interested in buying a Lancaster City home now's the time to get started. With the $8,000 tax credit included, things are looking great for Lancaster City first-timers in 2009.
If you are interested in more information about the Lancaster City first-time homebuyer's program feel free to contact me. There's a schedule of upcoming Lancaster PA homeowner education classes and LHOP eligibility requirements published on LHOP's website. Here's their contact info - tell them Jeff Geoghan from YourLancasterHome.com referred you! Ask for Courtney Byers...
Lancaster Housing Opportunity Partnership
44 North Christian Street, Suite 300
Lancaster, PA 17602
Phone; 717-291-9945
Fax: 717-291-9850
E-mail: info@lhop.org
I've been blogging about many different homebuyer incentives in this space, for example the Lancaster General Hospital "Home In The City" program, and I've got something coming up that will knock your socks off! Check back for that article on a cool County-level program to increase homeownership opportunity and financial independence....
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For Lancaster PA homes for sale click here. Jeff Geoghan is a top real estate expert in Lancaster County, PA, and an involved community member. Jeff's work has been featured in the Lancaster Newspapers, WGAL Channel 8, PA Business Journal and Wall Street Journal. Jeff's blog on Lancaster County and its homes is nationally-featured. Contact Jeff for more help with your Lancaster PA Real Estate needs. Jeff is also a photographer - view some of his lancaster pa photography portfolio. Comments are welcome!
Congrats to LHOP for putting their own stimulus package together!
Cool, eh? We've got some GREAT homebuyer programs going in 2009.