Our Home Ownership Program
The Home Ownership Program provides affordable purchase financing options to put home ownership within reach. The program is designed for eligible borrowers and/or properties:
Eligible borrowers1
Borrowers must be at or below 80% of the area median income. Eligible borrowers1 may receive:
- Up to $3,0003 toward closing costs
- Discounted document preparation fee
Eligible properties2
One-unit, single-family, owner-occupied primary residence. Borrowers with eligible properties2 may receive:
- Discounted document preparation fee
Home Ownership Program Benefits
The dream of owning a home can become a reality. These features combined with S&T’s dedicated mortgage bankers, make home ownership accessible and more affordable than you may think.
Fixed interest rate
Up to 97% loan-to-value
No mortgage insurance requirement
Minimum borrower contribution is only $500
David McGowan, Community Mortgage Lender
12262 Frankstown Road, Pittsburgh, PA 15235
NMLS ID 1912349
Reach out to David for more information.
Eric Harris, Community Mortgage Lender
4385 Old William Penn Hwy, Monroeville, PA 15146
NMLS ID 24450
Reach out to Eric for more information.
Derek R. Tyner, Community Mortgage Lender
2 North Church St, West Chester, PA 19380
NMLS ID 1069666
Reach out to Derek for more information.
FAQs
To best understand your down payment, you will need to speak with a mortgage banker. S&T Bank has many mortgage loan options, including programs with low down-payment requirements. Your mortgage banker will help you select an option that best meets your unique situation.
Yes, S&T’s Home Ownership Program is specifically designed for low-income borrowers. Contact a mortgage banker today to learn more about the loan options that will best meet your needs.
1Income of eligible borrowers must be at or below 80% of the Federal Financial Institutions Examination Council (FFIEC) Estimated MSA/MD Median Family Income. They must also meet eligibility requirements including, but not limited to being owner-occupants of a one-unit, single-family, primary residence. HUD approved homebuyer education course is required.
2Eligible properties are one-unit, single-family, owner-occupied primary residences and must be located in a low- or moderate-income census tract. If located in this area, no income limitations apply. HUD approved homebuyer education course is required.
3Closing cost assistance is only available to borrowers that have income at or below 80% of the area median income and are owner-occupants. The funds will be provided as a lender credit. Program funds can only be used for nonrecurring closing costs including title insurance and recording fees. The funds cannot be applied toward recurring costs, such as property taxes and insurance. Borrowers cannot receive program funds as cash back. The funds may be considered taxable income and a 1099-MISC may be issued; consult with your tax advisor.
Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice. Loans subject to credit approval.