Homebuyer Assistance
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.
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
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*
- You must complete one-on-one homeownership counseling through a City-funded housing counseling agency before signing an Agreement of Sale.
- Agreement of sale must be signed by homebuyer and seller on or after May 2nd, 2022.
- You must be income eligible (see chart).
Download the Philly First Home Flyers:
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
* or have not owned a home in the past three years.
Income Guidelines
Income is calculated using grossincome for all members of the family who will live in the home.
| Family Size | Maximum Annual Household Income |
|---|---|
| 1 | $73,800 |
| 2 | $84,350 |
| 3 | $94,900 |
| 4 | $105,400 |
| 5 | $113,850 |
| 6 | $122,300 |
| 7 | $130,700 |
| 8 | $139,500 |
| More than 8 add per person | $8,450 |
For additional housing information, visit www.phila.gov/dhcd or call 215-686-9749.
Application Status Summary
Program re-launched on May 2. As of the beginning of September 2022:
• Approved 297 people for $2,792,320
• Under Review 58 people for $545,117
• Draft 18 people for $137,000
• Total 373 people for $3,474,937
• Avg sales price is $193,000
• 1.6 mil in transfer tax was returned to the City
• 25% below 50% AMI, 25% above 80% AMI, and 50% in the middle from 50-80% AMI
• Race: 56% Black; 20% more than one race; white 18%
• Over half of the grants have gone to female head of households