By State Rep. Kinkead

June is National Homeownership Month, arriving at a time when affordable housing feels impossible to find for almost anyone looking. Everywhere you turn, people are talking about how dramatically the cost of homeownership has risen over the last several years. It has gotten to a point where many folks are having the unfortunate conversation that homeownership may never be attainable for them. So, what can we do to ensure that more individuals are able to make their dream of homeownership become a reality, as well as help those who already own homes afford to stay amid rising costs?

If you’re looking to purchase a home and not sure where to start, the Pennsylvania Housing Finance Agency is offering a series of free webinars on the first three Mondays and Wednesdays of June exploring different steps of the home-buying process. Each of the six sessions will cover a different topic: the pros and cons of homeownership, saving money to buy a home, how mortgages work, choosing a home and making an offer, essential steps once your offer is accepted, and how to close the deal altogether. To register and get more information, email pwashington@phfa.org or go to PHFA.org. This web series is a fantastic resource for any prospective homebuyer, and I encourage you to attend if you’re considering homeownership!

Once you own a home, there are some great programs you may qualify for to help with the high costs associated with homeownership. The Pennsylvania Homeowner Assistance Fund helps homeowners facing financial hardship as a result of the COVID-19 pandemic. The federally funded program officially reopened earlier this year and provides financial assistance for qualified mortgage and housing-related expenses to address delinquency and avoid default, foreclosure, or displacement. More than 1,300 homeowners here in Allegheny County have collectively received about $17 million through this program. I encourage Pennsylvanian homeowners to visit PAHAF.org or contact my office to see if you’re eligible.

There are many houses in Pennsylvania in dire need of repairs, which owners simply cannot afford. Launching the Whole-Home Repairs program through last year’s state budget proved to be a lifeline for many of those struggling to pay for essential home repairs. The program provided grants to help eligible residents with home repairs to address safety concerns, energy or water efficiency, and accessibility for individuals with disabilities that were otherwise financially out of reach. While the Whole-Home Repairs Program is not currently accepting applications in Allegheny County, Gov. Josh Shapiro has proposed investing another $50 million through the 2024-25 state budget in this successful program. It’s an initiative that I fully support and will be fighting for as the state legislature dives headfirst into budget negotiations this month.

While the existing programs to help homeowners are great, my colleagues and I are working hard to create more supports that expand access to homeownership in Pennsylvania. Establishing the Pennsylvania Lease Purchase Option Home Ownership Program through H.B. 1922 would provide another tool in the toolkit for prospective homeowners to utilize. This program would assist families with less wealth by encouraging them to engage in a lease-purchase program, allowing prospective homeowners to build a positive credit history through renting before taking on the mortgage and ownership of the property. Having strong credit is an essential piece of the homeownership puzzle and this program, proposed by state Rep. Bob Merski, would create another avenue for folks to build credit before they buy a house.

Saving enough money to purchase a home might be the most common barrier to homeownership. Several states have passed legislation to allow first-time homebuyers to deposit money into a savings account, where it goes for the exclusive purpose of purchasing a first home, and the money can be deducted from their state income tax. My colleague state Rep. Ryan Bizzarro has introduced H.B. 126 to create a similar program in our Commonwealth. It’s estimated this type of savings account program could result in an annual increase of up to 4,000 home purchases within our state.

If you want to learn more about what the state can do to help you and your family on the path to homeownership, reach out to my office by emailing RepKinkead@pahouse.net, calling (412) 321-5523, or stopping by to see us at 658 Lincoln Ave. in Bellevue.