Home buyer grants provide financial assistance for people who meet certain qualifications.
The Black Brilliance Homeownership Team powered by E-Mortgage Capital is dedicated toward assisting individuals and families in minority communities who have become frustrated with paying rent.
Our trusted resources are here to help you “Fire Your Landlord.”
However, the home-buying education and affiliations that we maintain only help folks who take action.
The grant program(s) shown below offers real money and impactful opportunities that you can take advantage of today!
Philly First Home
The City of Philadelphia offers a grant for up to $10,000 or 6% of the home’s sales price (whichever’s lower) for home buyers needing assistance toward a down payment, closing costs or to lower the principal loan balance.
Eligibility is based on:
- First-time home buyer
- Household income
- Home-buyer counseling
- Property type
This program is designed to boost homeownership within Philadelphia for first-time home buyers or for previous buyers who have not owned a home for the past 3 years.
The income guidelines are determined according to family size.
For instance, a single person cannot earn more than $80,100, while a household with 4 people cannot earn more than $114,400.
Prior to signing an Agreement of Sale, you must complete a homeownership counseling program.
The program covers topics, such as money management, credit guidance and ways to avoid foreclosure.
Property must be a single-family residence or a duplex that’s located in Philadelphia (Condominiums are not eligible).
The Power of Seller’s Assist
Negotiating for the seller to pay your closing costs is another strategy toward minimizing your out-of-pocket closing costs.
Closing costs are 3rd party items that a home buyer is responsible for paying when purchasing a home.
There items include the following:
- Transfer Taxes
- Property Taxes Due
- Appraisal
- Title Insurance
- Homeowners Insurance
- Processing / Underwriting Fees
The above fees can add $10K – $15k in additional closing costs, which is why we have perfected negotiating these to be paid for you.
Once you combine a grant or 100% financing to cover your down payment and we get the seller to pay your closing costs, you’ll need a minimal amount to buy your home.
Check out and follow my Instagram page @MarkWilsonMortgagePro to see testimonials and hundreds of people like you who purchased a home for much less than you may think is possible.
Start your home-buying journey today!
The Black Brilliance Homeownership Team is here to assist you.
Visit our Mortgage Pre-Approval Center for more details.
