Mayor Bob Donchez announced today that the City is unveiling a new and improved homebuyer program, Bethlehem Homebuyer Assistance Program (BHAP). The best part about this program is that it is “Forgivable." The City and CACLV’s Community Action Financial Services staff are working together to administer the Program and are waiting for your call.
Mayor Donchez stated “Creating affordable places to live is a priority for the City. Owning a home is truly a benchmark in an individual or family’s life. It’s a place where you start and end your day, and where families begin and grow old. The City wants to help those low and moderate income families by lowering the barriers to home ownership by reducing down payment and closing costs.”
BHAP subsidizes down payment and closing costs for income qualified homebuyers who have not owned a home in the past three years and are looking to purchase a home in the City of Bethlehem. Many lending institutions have been notified of the program and are ready for your call. The Program can provide up to 10% of the home’s down payment plus closing costs.
A BHAP loan is structured as a deferred payment loan with a 0% interest rate and gradual forgiveness over a 10-year period. If you sell the home before the 10-year financing term you will be required to repay the loan proceeds on a prorated basis.
For additional information or to learn if you qualify for the BHAP program please visit our website: https://www.bethlehem-pa.gov/Community-Economic-Development/Community-Development/Housing
Or call (610) 865-7055 or email the City: email@example.com
or CACLV firstname.lastname@example.org