Unlocking Homeownership: Current Buyer Grant Programs in Pennsylvania & Philadelphia

Dreaming of owning a home in Pennsylvania or Philadelphia? You’re not alone—and the good news is, there are several grant programs designed to help buyers like you make that dream a reality! Here’s a closer look at the most popular and impactful buyer grants available right now, with all the details you need to get started.

Pennsylvania Statewide Programs

• Pennsylvania Housing Finance Agency (PHFA) – Keystone Advantage Assistance Loan:
  • Offers up to $6,000 (or 4% of the purchase price, whichever is less) for down payment and closing costs.
  • Available to qualified buyers using PHFA first mortgage products (FHA, VA, USDA, or conventional loans).
  • Assistance comes as a 0% interest, no monthly payment loan, repaid when you sell, refinance, or pay off your mortgage.
  • Income and purchase price limits apply, and buyers must have a minimum credit score of 660.
• First Front Door:
  • For every $1 you contribute, the program matches with $3, up to a $5,000 maximum grant.
  • Available to first-time buyers (or those who haven’t owned a home in three years) through participating lenders and banks.
  • Funds can be used for down payment and closing costs.
  • Requires completion of a homebuyer education program.
  • Income limits apply, based on household size and area median income.

Philadelphia-Specific Programs

• Philly First Home:
  • Offers up to $10,000 (or 6% of the home’s purchase price, whichever is less) for down payment and closing costs.
  • Open to first-time buyers purchasing a primary residence in Philadelphia.
  • Applicants must complete city-approved homeownership counseling before signing an Agreement of Sale.
  • Income limits apply (for example, a household of 2 must earn less than $113,600 in 2024).
  • Home must pass a city inspection and meet certain safety standards.
  • Grant is forgiven after 15 years of owner occupancy; if you sell or move before then, a portion may be repaid.
• Local Lender Grants:
  • Many Philadelphia-area lenders and banks offer their own grant programs, ranging from $1,500 to $5,000 or more.
  • These may be combined with state and city programs, depending on eligibility.
  • Ask your lender or agent about current offers and requirements, as programs can change frequently.

Who Qualifies?

• Most programs are for first-time buyers, but some allow repeat buyers who haven’t owned a home in three years.
• Income and purchase price limits apply, and buyers typically need to complete a homebuyer education course.
• Credit score requirements vary by program (usually 620–660 minimum).

Tips for Success

• Start early—funds for some programs, like Philly First Home, can run out quickly.
• Work with a knowledgeable lender or real estate agent who understands local grants and can help you layer programs for maximum savings.
• Combine grants with other incentives, like seller credits or lender-paid closing costs, to reduce your out-of-pocket expenses.

With the right guidance and a little preparation, you could be on your way to homeownership with less out-of-pocket expense than you ever imagined. Ready to explore your options? Reach out today for a personalized plan, and let’s open the door to your new home together!