Philip Cavalcanto
Coldwell Banker Preferred

The Philly First Homebuyer Assistance Grant Program

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.
  • You must be income eligible (see chart).

How Do I Apply?

Contact us and we will coordinate your meeting with our PREFERRED 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 home.