Neighborhood Housing Services of the Lehigh Valley, Inc. has helped over 1,100 families in the Lehigh Valley purchase their first home.
How may we help YOU?
Finding a program that’s right for you….
Lending For Homebuyers
NHS of Lehigh Valley & Greater Berks will have funds available for eligible households to help with down payment and closing costs.
Home-Ownership Program Financing (HOP)
This unique loan product adds special financial benefits and opportunities to the first-time homebuyer including down payment, closing cost, and home repair funding. Will be available to eligible low-moderate income families to purchase a home in the Lehigh Valley.
FHA Closing Cost Assistance Loan Program
Neighborhood Housing Services of Greater Berks has been approved by HUD to offer a closing cost assistance loan program to eligible low-moderate income families who have received approval for FHA 1st mortgage financing to purchase a home in Berks County. Programs will be expanded into the Lehigh Valley. NHS seeks to provide this program in conjunction with affordable mortgage programs offered by certified FHA lenders.
NHS Lehigh Valley, offers several types of counseling for participants who want to buy, are in the process of buying, or have already purchased homes. Depending on your homeownership status, an NHS housing counselor will sit with you and develop an action plan to help prepare for or maintain homeownership. The following types of counseling are currently offered:
Credit and Budget
• Pull and review your credit report and score
• Run calculations to determine monthly affordability
• Review income and expenses to create a budget based on net income
• Determine the level of mortgage readiness
• Create an action plan
• Review Budget
• Review closing documents
• Home Maintenance
• Usually lender required
• Review Budget
• Eliminating the use of credit cards or lowering amount of existing debt
• Reduce dangerous borrowing habits
• Address future steps to take for maintaining homeownership
• Go over any questions and concerns
NHS’s highly trained homeownership specialists are available to provide a personalized mortgage-readiness assessment, answer your questions, and see you through to the end of your home purchase. There is no fee for our services and they are available to anyone. A $20 fee will be charged for a credit report that will be required for the counseling sessions.
FASTRAC – Homebuyer Education Classes
Want to buy a home and don’t know where to begin? NHS offers an eight (8) hour Fast Track Homebuyer Education workshop that allows interested first-time homebuyers the opportunity to understand the steps in the homebuying process. A PHFA participating lender and a local realtor will present valuable information and are available to answer your questions. Classes are offered in English one Saturday per month and mid-week evening classes.
Homebuyer Education Topics Include:
• Advantages and Disadvantages of Homeownership
• Budget Planning and Record Keeping
• Mortgage Qualifying
• Loan Application Process
• Closing the Real Estate Transaction
• Predatory Lending
• Fair Housing Practices
Participants interested in applying for down-payment and closing costs assistance through NHSLV must complete the Fast Track Homebuyer Education Class, eligibility for the programs will be determined at time of application. There are special programs at the local, state and federal level which provide loans to qualified families to help them purchase a home. These funds can be applied toward your closing costs or to your down payment to lower your monthly payments and make them more affordable. Contact the NHSLV office to register: 610-437-4571 or e-mail Florangel@nhslv.org.
There is no fee for our services and they are available to anyone.
From your first meeting with a NHS Home Ownership Counselor, through the qualification process and on to settlement, we are WITH YOU EVERY STEP OF THE WAY!