top of page

Philly First Home Program

The City of Philadelphia is 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 with reducing 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.

Contact Us

In FREE Homeownership Counseling, you will learn about:

  • Purchasing a home within your budget

  • Avoiding dangerous mortgages

  • Rights and responsibilities of homeowners

  • Mortgage application / purchasing process

  • Improving credit, credit repair and credit maintenance

  • Money management

  • Home maintenance

  • Avoiding foreclosure

  • Deeds and other legal housing documents


  • The property must be a single-family home or duplex located in Philadelphia (no condos).

  • 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):

Speak with a Philadelphia Home Buyer Agent Today.

Ancient Architecture

We provide homebuyer services for $0

Search South Philadelphia Homes For Sale

Chase Home Buyer Grants


The Chase Homebuyer Grant is available on primary-residence purchases only. Homebuyers may be eligible for the $2,500 or $5,000 savings when applying for a DreaMaker℠, Standard Agency, FHA and VA home purchase mortgage loan product and where applicable census tract requirements are met. Income limits and homebuyer education apply on a DreaMaker mortgage.

The Chase Homebuyer Grant funds will be applied at purchase loan closing first to points on the loan, if any, then to Chase fees, then to non-Chase fees or down payment. Grant funds may not be used for the down payment on an FHA or VA purchase loan.

The Homebuyer Grant may be considered miscellaneous income and may be reportable on Form 1099-MISC (Miscellaneous Information) or Form 1042-S (Foreign Person’s U.S. Source Income Subject to Withholding) to the customer and the IRS, for the year in which they are awarded. We encourage customers to consult with a personal tax advisor for questions about the impact to personal income tax returns.

Bank of America Home Grant Programs


Bank of America’s Community Homeownership Commitment® is bringing together products and resources that can help modest-income borrowers buy homes of their own. By combining down payment assistance and closing cost help with a low down payment mortgage, you may find that a new home is within reach.

Bank of America’s Home Grant® program offers a lender credit of up to $7,500 that can be used towards non-recurring closing costs, like title insurance and recording fees, or to permanently buy down the interest rate. The funds do not require repayment.


  • Minimum combined loan-to-value must be greater than or equal to 80%

  • Program funds can only be used for nonrecurring closing costs

  • The home loan must fund with Bank of America

Bank of America’s Down Payment Grant program offers a grant of up to 3% of the home purchase price, up to $10,000, to be used for a down payment in select markets. Grant Program is available with one mortgage product. The funds do not require repayment. 


  • Minimum combined loan-to-value must be greater than or equal to 80%

  • Program funds can be applied toward down payment only

Down Payment Grant program may be considered taxable income.

BOA Contacts

Michael Perticari of The Perticari Team

K-FIT (Forgivable in Ten Years)


Through PHFA (Pennsylvania Housing Finance Agency)

PHFA’s mission is to expand affordable housing opportunities throughout Pennsylvania.  The K-FIT purchase assistance loan helps fulfill that mission by assisting low and moderate-income renters who want to become homeowners.  Homebuyer education that is provided by PHFA-approved counselors at no cost to homebuyers helps prepare them for the financial responsibilities of homeownership.

The loan is used to assist homebuyers with their down payment and closing costs.  K-FIT is a forgivable second loan, with 10% forgiven each year over 10 years. As a result, no monthly payment is required.


  • The K-FIT purchase assistance loan may only be paired with PHFA’s Keystone Home Loan program. 

  • Conventional, FHA, Rural Development, and Veterans Affairs financing options are available.

  • A K-FIT loan provides 5% of the lesser of the purchase price or appraised value with no maximum dollar amount. 


  • FICO score of 660 required

  • complete homebuyer education counseling

  • may not have liquid assets greater than $50,000

  • Must be eligible for the KHL program

  • Must meet the K-FIT loan program eligibility requirements.  

Speak with a Philadelphia Home Buyer Agent Today.

bottom of page