1 Eligible borrowers must have an income at or below 80% of the area median income designated by Fannie Mae. They must also meet eligibility requirements including, but not limited to, being owner-occupants.
2 Eligible properties must be located in a low or moderate census tract within S&T Bank’s assessment area. If located in this area, no income limitations apply.
3 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 down payment, prepaid items or 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.
4 Income restrictions apply.