SPECIAL PROGRAMS FOR DOWN PAYMENT ASSISTANCE

Homebuyer assistance is often available to assist first-time homebuyers in reducing the principal, covering down payments, and providing loan closing costs. The sources of this funding may come from local city programs, non-profit agencies, employers, and lenders. Many can be layered with other programs which may greatly increase the amount of assistance received. Housing counselors will ensure you are made aware of all grants as well as eligibility and guide you in submitting applications.

PHFA LOANS

The Pennsylvania Housing Finance Agency (PHFA) offers home purchase loans with competitive interest rates and lower fees. In addition to the PHFA first mortgage, some applicants may qualify for down payment and/or closing cost through one of our many assistance programs.

The program that is best for you will depend on your specific circumstances, such as your credit history and amount of cash savings, as well as your individual preferences. A PHFA approved homebuyer education provider or participating lender can help you decide.

PHFA Participating Lenders:

FIRST FRONT
DOOR (FFD)

The First Front Door (FFD) homebuyer program of FHLBank Pittsburgh (Bank) is a way for potential first-time homebuyers to become homeowners. The Bank will match the qualified homebuyer’s contribution 3-to-1. For every $1 of contribution the homebuyer makes, the Bank will provide $3 in grant assistance, up to a maximum of $5,000. Housing counseling and information on this program is available through approved counseling agencies, such as PHFA.

EMPLOYER ASSISTED HOUSING PROGRAMS (EAH)

Participating employers offer a monetary home purchase benefit to their staff and partner with PHFA to stretch their employees’ home-buying dollars. Although the employers’ benefits do not have to be contingent upon a PHFA mortgage, if the employee is approved for a PHFA mortgage through a participating lender, the borrower will receive additional financial advantages at no cost to the employer.

Pennsylvania Housing Finance Agency (PHFA)
800-822-1174 or 717-780-3800

TDD for deaf and hard of hearing: 717-780-1869

HOMEPHL GRANTS

The Urban League of Philadelphia offers $1,000 grants for closing-cost assistance to first-time homebuyers in Philadelphia.

PHILLY FIRST
HOME PROGRAM

PHDC’s Philly First Home Program provides up to $10,000 (or 6% of the home’s purchase price, whichever is lower) to help first-time homebuyers cover down payment and/or loan closing costs. Homebuyers must be income-eligible and complete pre-purchasing counseling through a City-funded housing counseling agency before signing an Agreement of Sale.

Please call to see if applications are being taken at this time.
PHDC: 215-686-9749

TTY for deaf and hard of hearing:
215-686-9803

NEIGHBORHOODLIFT

NHS of Greater Berks, in partnership with New Kensington Community Development Corporation and HACE, proudly joins the NeighborhoodLIFT program in collaboration with Wells Fargo and NeighborWorks America. The NeighborhoodLIFT program offers homebuyer education plus $15,000 for eligible homebuyers to use toward down payment and/or closing costs on qualified homes.

PHILADELPHIA HOME.
BUY.NOW

Philadelphia Home.Buy.Now is an employer-assisted housing program funded by the City of Philadelphia’s Division of Housing & Community Development, and administered by the Community and Economic Development (CED) Department of the Urban Affairs Coalition (UAC). The key feature of Philadelphia Home.Buy.Now is the financial assistance an employer provides to their employee, making them eligible for a dollar-for-dollar matching grant up to $4,000 to help cover down payment and closing costs. 

Urban Affairs Coalition (UAC)
215-851-1738

TURN THE KEY PROGRAM

Up to 1,000 first-time homebuyers will benefit from this program, which supports the purchase of new, affordable homes and equitable futures for Philadelphia families.

MORTGAGE LENDERS

Mortgage lenders have various programs that support first-time homebuyers with low down payments, grant programs, and education materials. For first-time homebuyers, finding the right mortgage can be a big challenge. You will want to work with a lender who can provide the best rate, the right term and the lowest closing costs, as quickly and efficiently as possible.

“My biggest advice to first-time homebuyers is to shop around for home loans. There are different types of loans that are not for everyone. As housing counselors, we can help sort out that information.”

Rosita Delgado, Housing Counselor