Home Ownership Services for the Penn Community
Fostering Penn's commitment to West Philadelphia
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Penn Home Ownership Services helps foster the University's commitment to neighborhood development by offering incentives and support to eligible faculty and staff to purchase and renovate homes.
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Penn Home Ownership Services offers eligible employees the opportunity to apply for closing cost assistance for home purchasing and funds towards home improvement. The department also offers resources for home buyers and educational workshops.
The Closing Cost Reduction Program (CCRP) offers mortgage financing options with discounted closing costs (.25% of mortgaged amount) for the purchase and refinancing of a home when purchasing a residence within the PHOS boundary area.
The University's $7,500 forgivable loan program is an incentive for faculty and staff interested in living and/or currently residing in the West Philadelphia community. These loans can be used for closing costs, down payment, to buy down points, and/or for interior or exterior home improvements.