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July 23, 2019

First-time Philly homebuyer workshop to offer guidance on $10,000 grant program

Real Estate Homeowners
La Salle Philly Homebuyers Thom Carroll/PhillyVoice

The Affordable Housing Centers of Pennsylvania will hold a Philly Homebuyer Exchange event at LaSalle University on July 27, 2019. Attendees can participate in a homebuyer workshop and learn about the Philly First Home program, which offers $10,000 grants for eligible homeowners to make a down payment.

A workshop at LaSalle University on Saturday will give guidance to prospective first-time home buyers in Philadelphia who hope to participate in the city's new $10,000 homeownership incentive program.

The Affordable Housing Centers of Pennsylvania is organizing the Philly Homebuyer Exchange for residents to gather information from industry professionals about the home purchase process, as well as how income-eligible buyers can qualify for the grant program.

The event will take place from 9:30 a.m to 3 p.m on July 27 at LaSalle's Union Ballroom. Speakers will include Rep. Dwight Evans and Philadelphia Councilwoman Cherrelle Parker, as well as an appearance from Power 99's Mutha Knows.

The city launched the Philly First Home program in May to incentivize aspiring first-time homebuyers who may be struggling to come up with the money necessary to make a down payment. Eligible buyers who meet the program's income requirements can work with counselors from the Division of Housing & Community Development (DHCD) to determine whether they qualify for a $10,000 grant.

Eligibility for the program depends on homebuyers meeting the following requirements:

Be a first-time homebuyer or a buyer who has not owned a home for at least three years

Purchase a home in the City of Philadelphia

Have a household income at or below 120% Area Median Income (AMI)

Complete housing counseling at a DHCD funded housing counseling agency

Officials said the program was allocated $3 million for 2019 and will have an additional $2.5 million for 2020, with funding in later years still to be determined.

Saturday's event is free and open to the public.