Philly announcement to first time home buyers!
If you’re getting ready to buy a home in Philadelphia, the city wants to help cover some of the costs. They are re-opening the first-time homebuyers up to $10,000, or 6% of the purchase price, whichever is less.
You can use it for the down payment or closing costs.
The city first closed the program back in 2020 when it ran out of money.
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:
- Purchasing a home within your budget
- 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
Click here to see other eligibility requirements.