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.
Homebuyer Assistance
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:
- Deeds and other legal housing documents
- Avoiding dangerous mortgages
- Purchasing a home within your budget
- Rights and responsibilities of homeowners
- Mortgage application/purchase processes
- Improving credit, credit repair and credit maintenance
- Money management
- Home maintenance
- Avoiding foreclosure
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 or have not owned a home in the past three years.
- 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 below).
- Note: If you are using more than one homebuyer grant opportunity, please confirm with your housing counselor that all grants are compatible with the Philly First Home program.
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
To learn about the Philly First Home Application Process, click here.
Application Summary
• Average sales price is $193,300
• $11 million in transfer tax returned to the City
• Average interest rate 6.2%
• Average houseold income $60,858
AMI Awarded:
<=50% AMI 349
50% and <=80% AMI 886
80% and <=100% AMI 502
Race:
54% Black or African American;
21% more than one race;
18% White;
3% Asian
3% Undisclosed
1% Other
Ethnicity:
30% Hispanic or Latino
70% Not Hispanic or Latino
Other:
Female heads of households 853
Average Household Size 2
Average Age 34
With Disabilities 29
Income Guidelines
Income is calculated using gross income for all members of the family who will live in the home.
| Family Size | Maximum Annual Household Income |
|---|---|
| 1 | $83,600 |
| 2 | $95,550 |
| 3 | $107,500 |
| 4 | $119,400 |
| 5 | $129,000 |
| 6 | $138,550 |
| 7 | $148,100 |
| 8 | $157,650 |
Download the Philly First Home Flyers:
Philly-First-Home-flyer-English
Philly-First-Home-flyer-Spanish
Philly-First-Home-Simplified-Chinese
For additional housing information, visit www.phila.gov/dhcd or call 215-686-9749.
