Your SlideShare is downloading. ×
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
691
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
3
Comments
0
Likes
0
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. Jim Flaherty (215) 683-2126 [email_address]
  • 2. Philadelphia Home • Buy • Now
    • Philadelphia • Home • Buy Now is a matching grant from the City of Philadelphia of up to $4,000. This is an unrestricted, dollar-for-dollar match for grants or forgivable loans made by the participating employers to their employees for home purchases in the City of Philadelphia.
    • $735,000 is budgeted for 2011-2013. It is anticipated that this will assist in the purchase of 240 houses and leverage approximately $24 million in mortgage financing.
  • 3. What is the program?
    • Home • Buy • Now is a program designed to assist Philadelphia employers to recruit, retain, and reward valuable employees by providing them with housing benefits which help them become homeowners.
    • There are no income limits on who can participate and no geographic location for their housing choice. However, homebuyers within designated target areas can receive up to $4,000 while all others can receive up to $2,000.
  • 4. Housing Benefit Options
    • Financial assistance for purchasing a home can be allocated towards the following:
      • closing costs
      • down payment
      • prepaid interest or “points”
      • mortgage insurance
  • 5. Home • Buy • Now November 2004-September 2009 $74,000 Median Household Income $134,000 Median Cost of House 211 Number of Houses Purchased 43 Number of Participating Employers
  • 6. Employer-Assisted Housing Websites
    • Field Guide to Employer-Assisted Housing
    • http://www.realtor.org/library/library/fg331
      • Employer-Assisted Housing Basics
      • Employer-Assisted Housing Plans Across the Country
      • Websites
    • Employer-Assisted Housing Websites
    • http://www.realtor.org/government_affairs/housing_opportunity/programs/home_from_work/home_from_work
      • Employer-Assisted Housing Class ( National Association of REALTORS® Government Affairs , n.d.). "NAR's Employer-Assisted Housing class focuses on how to work with local employers to discuss employer-assisted housing, EAH's benefits and three options (homebuyer and homeownership workshops, one-on-one counseling and financial assistance) employers can implement to help their employees become homeowners or afford a home close to work."

×