Lending
| NHS of the Lehigh Valley distributes program information and administers the Home Ownership Outreach Program (HOOP) in the City of Allentown, City of Bethlehem, City of Easton, Lehigh County and Northampton County. The staff qualifies applicants for this homebuyer mortgage program and assists them in obtaining first mortgages from lending institutions. NHS of the Lehigh Valley facilitates and originates soft second mortgages or grants to assist with down payment and closing costs. Information sheets on all home ownership programs are available upon request. |
Rehabilitation Loans
Low interest loans for code abatement and other essential home improvements are
made available to low to moderate-income customers residing in the neighborhood and
regional service areas of NHS of the Lehigh Valley. Loan terms are based on the income and financial
capacity of the borrowers. NHS of the Lehigh Valley secures the loans by a lien against the property
and establishes repayment on a monthly amortization basis.
Lease / Purchase
NHS of the Lehigh Valley has a program to assist households who wish to purchase a home, but cannot
obtain a mortgage due to minor financial management issues. In order to be eligible for
the program, purchasers need to have the ability to satisfy these issues within six months
to one year.
| When they have received pre-approval from a local lending institution, NHS of the Lehigh Valley will help the purchasers prepare a plan for correcting the outstanding issues, and authorize the household to find a suitable property. |
| When a property has been identified and an evaluation satisfactory to NHS of the Lehigh Valley has been completed, NHS of the Lehigh Valley will purchase the property and enter into a short-term lease/purchase agreement with the household. Monthly on-going counseling and money management services are provided during the term of the agreement. |
| When the terms of
the lease/purchase agreement have been satisfied, NHS of the Lehigh Valley will assist the household
in obtaining the necessary funds to purchase the property, including any special grants or
closing cost assistance available. |
An informational sheet on this program is available
upon request. |