Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Jim Flaherty BWH Boston 2011

1,021 views

Published on

Published in: Business, Economy & Finance
  • Be the first to comment

  • Be the first to like this

Jim Flaherty BWH Boston 2011

  1. 1. Jim Flaherty (215) 683-2126 [email_address]
  2. 2. Philadelphia Home • Buy • Now <ul><li>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. </li></ul><ul><li>$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. </li></ul>
  3. 3. What is the program? <ul><li>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. </li></ul><ul><li>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. </li></ul>
  4. 4. Housing Benefit Options <ul><li>Financial assistance for purchasing a home can be allocated towards the following: </li></ul><ul><ul><li>closing costs </li></ul></ul><ul><ul><li>down payment </li></ul></ul><ul><ul><li>prepaid interest or “points” </li></ul></ul><ul><ul><li>mortgage insurance </li></ul></ul>
  5. 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. 6. Employer-Assisted Housing Websites <ul><li>Field Guide to Employer-Assisted Housing </li></ul><ul><li>http://www.realtor.org/library/library/fg331 </li></ul><ul><ul><li>Employer-Assisted Housing Basics </li></ul></ul><ul><ul><li>Employer-Assisted Housing Plans Across the Country </li></ul></ul><ul><ul><li>Websites </li></ul></ul><ul><li>Employer-Assisted Housing Websites </li></ul><ul><li>http://www.realtor.org/government_affairs/housing_opportunity/programs/home_from_work/home_from_work </li></ul><ul><ul><li>Employer-Assisted Housing Class ( National Association of REALTORS® Government Affairs , n.d.). &quot;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.&quot; </li></ul></ul>

×