First-Time Homebuyer Programs
Let American Heritage Help You Become a First-Time Homeowner!
We know getting your first home is one of the biggest steps you will take in your life. That's why we're here to help. First-time homebuyers can receive up to a $5,000 grant through our First Front Door Program, and an additional $500 closing cost credit through American Heritage.
First-Time Homebuyer Credit Promotion
Our First-Time Homebuyer Credit promotion* is a lender credit program for first-time homeowners who fund their mortgage with American Heritage Credit Union. Eligible members can earn up to a $500 lender credit at the time of closing. Available for primary occupancy homes located in Pennsylvania, New Jersey or Delaware, this program allows first-time homebuyers to combine their $500 credit with other community grant programs such as First Front Door.
First Front Door Program
With the First Front Door grant program**, American Heritage works with FHLBank Pittsburgh to assist first-time homebuyers with the closing costs and down payment for their new home up to $5,000. For every $1 of contribution you make, the Bank will provide $3 in grant assistance, up to a maximum of $5,000!
Get pre-approved today and automatically apply for our First Front Door Program!
How do I get started?
- 1
- Apply for a mortgage and you'll automatically apply for the credit promotion with the same application. Or give us a call at 800.808.2662 to speak with a mortgage professional. 2
- We'll work with you to complete your application for the program. 3
- We'll submit your completed application. 4
- Your application will be processed within 10 business days.
View our mortgage rates, apply for a mortgage or call to speak with a mortgage professional about our First-Time Homebuyer Program today!
Apply for a Free Preapproval*** and our first time homebuyer program!
Do You Offer Realty Services?
Yes! First Heritage Realty Alliance is a real estate firm owned and operated by the team you trust at American Heritage. Take advantage of the expert advice, mortgage options and market analytic tools that will help you walk into your new home.
We will support you each step of the way as you:
- American Heritage Credit Union members will receive a $250 Gift Card to The Home Depot® when they purchase their home through an First Heritage Realty Alliance agent.1
- Find the right home
- Negotiate your offer
- Guide you through the home-buying process
- Settle quickly so you can get moving
Learn more about our First Heritage Realty Alliance or call 855.525.7900 for additional information.
Want to start looking for a home? Visit the First Heritage Realty Alliance website
FAQ
Who is eligible for the First-Time Homebuyer Credit promotion? How do you qualify as a first-time homeowner?
The First-Time Homebuyer Closing Cost Credit promotion of up to $500 is a lender credit that is valid for first-time home purchase transactions only, meaning that the borrower has not owned a home in the previous three years. Additionally, this offer is for a primary residence only, meaning that vacation or investment properties are not valid qualifications for the offer.
Can you combine First-Time Homebuyer Credit with with other community grant programs?
Yes, the First-time Homebuyer Closing Cost Credit promotion can be used in conjunction with other community grant programs such as First Front Door. ***subject to loan program guidelines and eligibility
How is the credit applied?
Up to a $500 lender credit will be given at the time of closing, subject to qualification. Offer valid for first-time home purchase transactions only. If the borrowers closing costs exceed $500, the balance will be paid by the borrower. The lender credit can only be used for non-recurring closing costs including title insurance and recording fees, and can’t be applied toward down payment, prepaid items or recurring costs, such as property taxes and insurance. Finally, borrowers cannot receive the program credit as cash back.
Are there limitations for the offer?
The First-Time Homebuyer Credit promotion is available for primary occupancy homes located in Pennsylvania, New Jersey or Delaware.
If my application is taken before March 15, 2023, am I eligible for the First-Time Homebuyer Credit?
If your loan closes after March 15, 2023, then you are eligible.
What are the qualifications for the First Front Door grant?
To be eligible for grant assistance, each homebuyer must satisfy the following:
- Be a first-time homebuyer: not owned a home within the past three years.
- Contribute personal funds as part of the down payment and closing costs.
- Have an income at or below 80 percent of the area median income at the time of enrollment in the program. For information on state income limits visit the Department of Housing and Urban Development site.
- Not be a student working fewer than 30 hours per week.
- Complete at least four hours of homeownership counseling from an approved counseling agency prior to the purchase of the home. The topic of predatory lending must be included in the counseling.
- Not receive more than $250 cash back at loan closing.
- Retain the home for five years from the loan closing date to keep the full amount of the grant.
Does my home qualify for the First Front Door Program?
Qualified first-time home buyers can use FFD grants toward closing costs and down payment assistance on eligible properties that are intended as the primary residence of the homebuyer at the time of program enrollment. These properties include single-family homes, townhomes, condominiums and modular units. Manufactured homes may be eligible if they are permanently affixed to a site. Investment properties are not eligible for FFD assistance.
When does the First Front Door $5,000 Grant program begin?
What are the full terms and conditions for the First-Time Home Buyer Credit Program?
Offers valid as of 3/1/2022. All offers are subject to change without prior notice.
*The American Heritage Credit Union First-time Homebuyer Credit promotion is a lender credit for specified mortgages funded with American Heritage Credit Union. Up to a $500 lender credit will be given at the time of closing, subject to qualification. Offer valid for first-time home purchase transactions only. If closing costs exceed $500, the balance will be paid by the borrower. The lender credit can only be used for non-recurring closing costs including title insurance and recording fees. This credit cannot be applied toward down payment, prepaid items or recurring costs, such as property taxes and insurance. Borrowers cannot receive program credit as cash back. Valid for borrowers who have not owned a home in the previous three years. Available for primary occupancy homes located in Pennsylvania, New Jersey or Delaware. May be combined with certain community grant programs. Not available with all loan products, please ask an American Heritage Credit Union mortgage lender for details. American Heritage Credit Union may discontinue this offer at any time without prior notice. Equal Housing Lender. Available to members in good standing; Must have an American Heritage Savings Account with a minimum balance of $15 to be eligible.
**All offers are subject to change without prior notice.
**First Front Door grants are provided by FHLBank Pittsburgh through a network of lenders.
Want to learn more?
Offers valid as of 3/1/2023. All offers are subject to change without prior notice.
*The American Heritage Credit Union First-time Homebuyer Credit promotion is a lender credit for specified mortgages funded with American Heritage Credit Union. Up to a $500 lender credit will be given at the time of closing, subject to qualification. Offer valid for first-time home purchase transactions only. If closing costs exceed $500, the balance will be paid by the borrower. The lender credit can only be used for non-recurring closing costs including title insurance and recording fees. This credit cannot be applied toward down payment, prepaid items or recurring costs, such as property taxes and insurance. Borrowers cannot receive program credit as cash back. Valid for borrowers who have not owned a home in the previous three years. Available for primary occupancy homes located in Pennsylvania, New Jersey or Delaware. May be combined with certain community grant programs. Not available with all loan products, please ask an American Heritage Credit Union mortgage lender for details. American Heritage Credit Union may discontinue this offer at any time without prior notice. Available to members in good standing; must have an American Heritage Savings Account with a minimum balance of $15 to be eligible.
**All offers are subject to change without prior notice. First Front Door grants are provided by FHLBank Pittsburgh through a network of lenders.
***All loans are subject to credit qualification, credit worthiness and other factors. All rates, promotions and offers are subject to change without notice.
1 Offer valid as of January 1, 2023 and subject to change or cancellation without notice. Member must purchase home through First Heritage Realty Alliance. Limit one gift card per household. Offer valid on a home purchased in Pennsylvania, New Jersey and Delaware. Member must be in good standing with a minimum $15 deposit to receive offer. Members receiving incentives may be responsible for paying taxes on the incentives. This offer is not redeemable at The Home Depot® stores, American Heritage Credit Union will provide welcome gift card to member within 60 days of closing. American Heritage Credit Union is not affiliated with The Home Depot®. The Home Depot® is not a sponsor of this promotion. The Home Depot is a registered trademark of Home Depot Product Authority, LLC. All rights reserved. American Heritage Credit Union is an owner of First Heritage Realty Alliance, LLC. American Heritage Credit Union is not a real estate company.
SAFE Act
In compliance with stipulations required under the SAFE Act, American Heritage Federal Credit Union, AMHFCU, is hereby listing the unique identifier information, also known as the NMLS#, for AMHFCU below:
AMHFCU | #433838