An Outstanding Partner — for PHDA and for First-Time Homebuyers
PHDA enjoys a collaboration with Dollar Bank, who shares our vision of increasing home ownership and strengthening our community. Dollar Bank is the region’s only financial institution to offer comprehensive in-house credit counseling and homebuyer education programs — in addition to all the banking services you’ll need to become a home owner. We highly recommend all aspects of the First-Time Home Ownership Program.
Credit Enhancement Program
To purchase a home, you need to understand your credit history — and you may need help improving it. Dollar Bank provides both through confidential one-on-one sessions with credit counselors. They can also help you create and manage a household budget to reduce debt, build savings — and get approved for a mortgage.
Homebuyer Education Program
These informational sessions prepare you for the homebuying process — from finding and applying for the best mortgage to fit your finances to basic tips on shopping for a home and working with a real estate broker.
3-2-1 Home Program (Down Payment and Closing Cost Assistance)
If you’re eligible for this special savings program, Dollar Bank will add $3 to every $1 you save. That means if you save $1,000, you’ll actually have $4,000 in your account, which can be used for hand money, mortgage application fees, closing costs and other expenses that come with buying a home.
Low Cost Mortgage Options
Dollar Bank also has special programs that provide low interest rates for first-time homebuyers, home purchase and rehabilitation loans, or mortgages with qualified Section 8 housing voucher income options.