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Urban League of Philadelphia - Revitalizing Neighborhoods and Increasing Homeownership Program

1100 Ludlow Street, WeWork 7, Philadelphia, PA 19107

Eligibility
A) Residents of Philadelphia County B) First-time homebuyers purchasing a home in Philadelphia County C) Have income of $196,200 or less D) Have liquid assets no greater than $50,000 E) Home purchase price $659,000 or less
Application process
Referral from Congreso de Latinos Unidos, Hispanic Association of Contractors and Enterprises (HACE), or Urban League of Philadelphia required. Call or email for more information.
Fees
Borrowers must make a minimum contribution from their own funds that is the lesser of $1,000 or 1% of the loan amount.
Service area
Philadelphia, PA

Other Information

Focus Population

  • General
Combines a flexible loan product with extensive consumer coaching and financial education to help people who face challenges trying to become homeowners. Offers the Pennsylvania Housing Finance Agency (PHFA) K-Flex 30-year fixed rate loan, paired with other PHFA loan products for related expenses such as needed home improvements. Offers eligible homebuyers $25,000 grants to apply to the closing costs, and excess grant funds can be used to pay down the borrower’s student loans. Offers additional assistance funds in the form of a 10-year forgivable loan of up to 5% of the sales price are available to eligible borrowers. No mortgage insurance will be required. PHFA will be servicing the mortgage loans for program participants.
Providing organization
Urban League of Philadelphia
Empowers African Americans and other underserved people to secure economic self-reliance, parity, power, and civil rights.