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PHILADELPHIA (KYW Newsradio) – Philadelphia officials Thursday announced a new program that they say will help hundreds of residents become homeowners and will provide game changing help with down payments. Philly First Home will cover six percent of the purchase price of a new home up to $10,000 for first-time home buyers.
City Officials, Division of Housing and Community Development (DHCD), and community leaders announced the Philly First Home program with expanded down payment assistance of up to $10,000. "The Philly First Home program is one more tool in the City’s toolbox to help make home ownership a reality for our residents," said Mayor Jim Kenney.
This program offers $10,000 or 6% of the sale of the property; whichever is less, to first time home buyers in Philadelphia. The affordability index for first-time buyers, which measures the ability of a family earning the median income to purchase a median-priced home at current interest. combined with the expectation.
Welcome to the Pennsylvania Down payment assistance grants page for first time home buyers. We’re glad you’ve made your way here! As a first time home buyer, you should be sure to check out all of the valuable information available to you in our Education Section!It’s a great primer for learning about your first home purchase!
The city of Philadelphia and JPMorgan Chase want to help first time home buyers make their dream come true with the Philly First Home Program. This program offers $10,000 or 6% of the sale of the property; whichever is less, to first time home buyers in Philadelphia.
A great way for first-time home buyers to jump into homeownership is with down payment and settlement assistance via grant money from their city. Though many cities have these programs, Kirsch says that Philadelphia is especially generous with the amount of money "that continues to pop up" for first-time buyers.
First time home buyer programs in Pennsylvania Counties. Many PA counties and cities offer special financing for first time home buyers and buyers whose income is at or below the median income limit. Some of the counties offer down payment and closing cost assistance grants. Here are a few programs that I’ve found.