SPECIAL PROGRAMS

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 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.

SPECIAL PROGRAMS FOR DOWN PAYMENT ASSISTANCE

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.

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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 you make, 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.

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EMPLOYER ASSISTED HOUSING PROGRAMS

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 you are approved for a PHFA mortgage through a participating lender, you will receive additional financial advantages at no cost to the employer.

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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.

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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). Philadelphia Home.Buy.Now is financial assistance provided by your employer, making you 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

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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.

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HOMEPHL GRANTS

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

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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.