American Heritage Credit Union launches two first-time homebuyer programs
First-time homebuyers can receive up to a $5,000 grant through First Front Door; additional $500 closing cost credit through American Heritage
PHILADELPHIA, PA (February 26, 2021) —
American Heritage Credit Union (“American Heritage”) has launched two home buyer programs to help first time buyers afford and better navigate the home buying process. The annual First Front Door (FFD) grant, as well as American Heritage’s new First-Time Homebuyer Credit promotion can collectively help members receive up to $5,500 in combined grants and closing cost credits. These programs, along with the credit union’s homebuying workshops and American Heritage Realty company, are designed to give prospective home shoppers a one-stop solution for all their homebuying and financing needs.
First Front Door $5,000 Grant:
American Heritage is again partnering with the Federal Home Loan Bank of Pittsburgh to offer members up to $5,000 in grants through its annual First Front Door program. The program will officially open April 5, 2021, but eligible applicants can apply for a pre-approval now. These grants are designed to help first-time homebuyers who meet certain income requirements with down payments and closing costs associated with the purchase and financing of a home. For every $1 contributed towards the purchase of a home, qualified homebuyers could receive up to $3 in First Front Door (FFD) grant assistance, up to a maximum of $5,000.
American Heritage First-Time Homebuyer $500 Credit promotion:
Additionally, the American Heritage Credit Union First-Time Homebuyer Credit promotion is a new 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 utilize their $500 Credit in conjunction with other community grant programs such as First Front Door.
Realty & Education Services:
In addition to these grant and credit programs, American Heritage’s realty service, American Heritage Realty, provides personalized concierge services to prospective home shoppers. American Heritage encourages home shoppers to visit their website to apply for a free pre-qualification, which allows first-time homebuyers to understand their home affordability. Finally, American Heritage offers educational resources on home shopping as well as home financing.
“We are pleased to provide unique educational, shopping and financing programs to our members and the community to help them realize the dream of home ownership,” stated Bruce K. Foulke, President & CEO of American Heritage. “Our mortgage team is excited to partner with the Federal Home Loan Bank of Pittsburgh once again, as well as launch our new First-Time Homebuyer Credit promotion in our efforts to help our members start their home ownership journey on the right foot. Our American Heritage Realty team will provide stellar service for those members who are embarking on this home ownership journey. Buying a first home can be a complex and expensive undertaking, but our American Heritage team is here to make the process affordable, personalized and simpler.”
To learn more about first-time home shopping and financing, as well as details on the First Front Door Grant and the First-Time Homebuyer Credit promotion, members and prospective members are encouraged to visit AmericanHeritageCU.org/FTH. American Heritage is an Equal Housing Lender.
About American Heritage Credit Union
American Heritage Credit Union is a member-owned financial cooperative with more than $4.8 billion in assets serving more than 800 Workplace Partners and more than 310,000 members, with more than 35 locations across Philadelphia, Bucks, Montgomery, Delaware, and Camden Counties. Founded in 1948, American Heritage Credit Union is now one of the top 75 largest credit unions in the United States and named Pennsylvania’s 2023 Best-in-State Credit Union by Forbes. For more information about American Heritage Credit Union please visit AmericanHeritageCU.org.
