The City of Philadelphia wants you to be a successful homeowner! We are offering a homebuyer assistance grant of up to $10,000 (or 6% of the home’s purchase price, whichever is lower) to assist first-time homebuyers reduce the principal, cover down payment and loan closing costs.To be eligible you must complete a FREE City-funded homeownership counseling program before you sign an Agreement of Sale. Homeownership counseling successfully prepares borrowers for this big life decision. In homeownership counseling, you will learn about:
- Avoiding dangerous mortgages
- Rights and responsibilities of homeowners
- Mortgage application/purchase processes
- Improving credit, credit repair and credit maintenance
- Money management
- Home maintenance
- Avoiding foreclosure
- Deeds and other legal housing documents
- Purchasing a home within your budget
What type of property is eligible?
- The property must be a single-family home or duplex located in Philadelphia (no condominiums).
Who is eligible?
- You must be a first-time buyer*
- You must complete one-on-one homeownership counseling through a City-funded housing counseling agency before signing an Agreement of Sale.
- You must be income eligible (see chart).
How Do I Apply?
Contact a City-funded housing counseling agency. They will need:
- Total annual family income
- Source of that income (employment, SSI, DPA, etc.)
- Number of family members who will live in the house