For Home Purchases
Eligible employees can receive up to $7,500 that can be used to offset closing cost fees. The Forgivable Loan will be in the form of a check written to the title company at settlement that will take place in the PHOS office.
- The forgivable loan will be a lien against your property, will be recorded with the City of Philadelphia, and removed after the five years is complete. Please contact our office to discuss fees associated with the loan.
- The forgivable loan can be used for closing costs, down payment, and/or buying down your interest rate.