First Front Door and Keys to Equity Program Applications Now Being Accepted

PS Bank is proud to partner with the Federal Home Loan Bank of Pittsburgh again in 2024 to offer the First Front Door and First Front Door Keys to Equity Programs. Customers can get started by prequalifying today. Qualified applicants will begin being submitted to the Federal Home Loan Bank on April 16^th.

Once you secure your funds, you have 6 months to shop for your home.

What is First Front Door?

First Front Door (FFD) provides down payment and closing cost assistance to eligible first-time homebuyers. By contributing a minimum of $1,500 toward down payment and closing costs, homebuyers are eligible for a maximum FFD grant of $15,000. PS Mortgage offers the FFD program as a member of FHLBank Pittsburgh (FHLBank).

First Front Door Keys to Equity Fund (Keys)

In order to expand access to homeownership opportunities for minority and first-generation first-time homebuyers, the First Front Door Keys to Equity fund (Keys) was established. Also offered through participating FHLBank members that provide first-mortgage financing. By contributing a minimum of $1,000 toward down payments and closing costs, homebuyers in the Keys program are eligible for a maximum Keys grant of $20,000.

Who Qualifies for FFD Funding?

Qualified first-time homebuyers can use FFD grants toward down payment and closing costs. Each prospective homebuyer must:

• Be a first-time homebuyer:
  • A person who has not owned an eligible property used as their primary residence in the last three years,
  • This also includes purchasing jointly with other individuals, at least one person has not owned an eligible property used as a primary residence in the last three years,
  • This also includes any person that has owned an eligible property jointly with another individual and is now independently purchasing an eligible property, or
  • If an investment property is owned, the person has not lived there and has not owned an eligible property used as a primary residence in the last three years.
• Contribute personal funds as part of the down payment and closing costs.
• Have household income at or below 80 percent of the area median income* at the time of registration.
• Complete at least four hours of homeownership counseling, including the topic of predatory lending, prior to the purchase of the home.

Who qualifies for Keys Funding?

Qualified first-time homebuyers can use Keys grants toward down payment and closing costs. Each prospective homebuyer must:

• Be a first-time homebuyer and identify as a Minority and/or First-Generation Homebuyer, as defined by FHLBank Pittsburgh
• Contribute personal funds as part of the down payment and closing costs.
• Have household income at or below 120 percent of the area median income* at the time of registration.
• Complete at least four hours of homeownership counseling, including the topic of predatory lending, prior to the purchase of the home.

To apply and reserve your grant funds, please contact Lori Rudalavage, Senior Mortgage Lending Officer (NMLS#142504) at 570-586-1215 or [email protected].

Click here to begin a prequalification with PS Mortgage.

Click here to learn more about our home loans.

First Front Door funds are available on a first-come, first-serve basis. All mortgage loans are subject to credit approval.

*To learn more about your area’s median income, please speak with a PS Mortgage representative, or visit:
https://www.hudexchange.info/programs/home/home-income-limits/