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Making Homeownership Available to Everyone

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Assistance for first-time homebuyers

For more than 168 years, Dollar Bank has helped individuals and families fulfill their dream of becoming first-time homebuyers.

Our success is founded on a dedicated staff that is knowledgeable of current marketplace issues affecting low and moderate-income communities. From the start, our experienced credit consultants will work with you, one-on-one, to provide the resources you need to make obtaining a mortgage easier and to help you select the best mortgage option for you.

We can make homeownership possible with down payment and closing cost assistance, credit enhancement and repair as well as training for homeownership. Even once you’re in your new home, our credit consultants are available if you should have any questions. Not only do we want to help you achieve homeownership, we want you to preserve it. 

Low cost mortgage options

A variety of mortgage options are available to help meet your individual needs. Our programs provide special interest rates for first-time homebuyers or mortgages using qualified Section 8 housing voucher income options. We will work with you to select the mortgage option that works for you.

Homeownership Program

Dollar Bank is the only financial institution in western Pennsylvania offering comprehensive in-house credit counseling and homebuyer education. When you enroll in our Homeownership Program, you will be provided with the support you need to purchase a home. Whether you have had difficulty qualifying for a mortgage due to income, insufficient savings for a down payment, or past and present credit difficulties, Dollar Bank’s Homeownership Program will be a beneficial resource for you.

With the Homeownership Program, you’ll start with a confidential one-on-one session with a Dollar Bank credit consultant. Together, we will review your employment history, credit profile, and available funds to determine which area(s) could be strengthened through the program.

Our Homeownership Program includes: 

Homebuyer Education Classes

Informational sessions will prepare you for the home buying process. Your credit consultant will work with you to find the best mortgage payment to fit your finances. You will learn how to shop for a home, work with a real estate broker, and apply for and close on a mortgage.  

Down Payment and Closing Cost Assistance

Dollar Bank’s Matched Savings Program can assist qualified families participating in the Homeownership Program with down payment and closing costs associated with purchasing a home. Once you've saved $1,000 in a Dollar Bank savings account, we'll match you up to $5,000 on your down payment, closing costs and other qualified expenses, for a total of up to $6,000.

These funds can be used in addition to grants and gifts from other sources. The $5,000 Matched Savings Program is subject to terms and conditions including income requirements. Please call 412-261-8109 for details. 

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Ready to get started?Contact our Community Development team by filling out the form below.

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The Way Home 

The Way Home is a homebuying workshop that attracts hundreds of people each year who are looking to buy a home. Attendees learn about the various mortgage loan programs available to them and come to understand the importance and power of credit.

Workshop Videos

FAQs
No, these funds are only available to qualified families that have enrolled in the Homeownership Program and successfully fulfilled its requirements.
Sessions are scheduled to meet the needs of our customers during normal working hours.

Program participants will attend an initial one-on-one session, homebuyer education group class sessions and workshops. The initial one-on-one session will last between 45 minutes and one hour. Classes are about an hour long and workshops are about two hours long.

Each situation is different and the time it takes to correct your credit issues depends upon your credit history, the financial resources you can commit to eliminating negative debt and saving for certain down payment costs.
The only fee for the Homeownership Program is the cost of your credit report.
We suggest you delay enrolling in the program until you secure permanent employment and meet the minimum income requirements listed below.
Of course! Most of the participants in the program have credit issues. One of the primary purposes of the program is to assist you in clearing up negative credit issues.
Mortgages for Mothers is The Way Home and is the name of Dollar Bank’s yearly workshop presented to encourage homeownership; this program’s name is the Homeownership Program.  Learn more about The Way Home Workshop.
Absolutely not! The program is open to all potential first-time homeowners.
We require a minimum of $26,000 a year. If you receive rental assistance through a local housing authority, the minimum income may be lower, based upon their homeownership program requirements.
No. We use an up-to-date Tri Merge credit report that provides the most complete picture of potential credit issues including public records, payment history and contact information for creditors.
You are responsible for contacting (through letters and phone calls) your creditors and for maintaining contact with your Dollar Bank credit consultant.
Qualified income may include salary and wages, social security, Supplemental Security Income (SSI), court mandated child support payments and pensions. Section 8 and housing voucher payments may also qualify. Department of Public Assistance payments are not eligible.
You will be given a copy of your credit report which will be discussed along with your total financial situation. We will also create a budget.
Always bring a pen and notebook to take notes. A calendar will help you keep track of important dates and appointments. We suggest that you begin organizing your financial papers and bring copies of any specific documents when they are requested.
At the Dollar Bank corporate offices located in downtown Pittsburgh at 20 Stanwix Street.

We're here to help 412-261-8109

Dollar Bank representatives are available Monday - Friday from 8:30 AM - 5:00 PM.