Making Home Ownership a Reality
Citadel Home Help
Citadel Home Help is an initiative focused on increasing home ownership among qualified applicants within eligible communities1 in Philadelphia. Financial assistance is available to eligible and approved borrowers providing up to $18,000 towards down payment, closing costs, interest rate buy-down, or upfront mortgage insurance for residences located within designated neighborhoods.
First Mortgages
If you’re looking to buy a home in Philadelphia as your primary residence, you may be eligible for up to $18,000 in financial assistance from Citadel Home Help.1
How it works:
- Up to $18,000 in funds are available to assist with the purchase, refinance, or home improvement loan for a primary residence in qualified communities. Repayment of the grant amount is not required.
- Home Help funds can be combined with other grants, seller assistance, and subordinate financing up to agency limits.
- Down payment assistance is available.
- Eligible closing costs may include items such as lender fees, points, title insurance, transfer tax, private mortgage insurance, and recording fees.
How to qualify:
- Available for owner-occupied, single family, condominium, or planned unit development (PUD) homes in eligible Philadelphia County neighborhoods.
- You do not have to be a first time home buyer to qualify.
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LEARN MORE1 Amounts available only for eligible majority-minority census tracts located within Philadelphia County. Please contact Citadel Credit Union for information regarding qualified census tracts.
2 Borrowers may receive up to $18,000 per qualified transaction on the Closing Disclosure, secured by a first mortgage or deed of trust (new loan), subject to qualification, approval, and closing with Citadel Federal Credit Union. The total amount of any grant may change based on loan terms, first mortgage program requirements, Home Help Program restrictions, and agency/investor limitations. Only one Home Help grant is permitted per transaction. Not all loan types are available to all borrowers. Borrowers will be subject to qualification and must satisfy all underwriting requirements and conditions. Not all borrowers will qualify. Please speak to your Citadel Mortgage Advisor or Loan Officer and carefully consider each of your home financing options so you can determine the home loan program that is right for you.
Fixed Rate Mortgage Terms. Rate expressed as Annual Percentage Rate (APR) and is subject to change without notice. Offer can be withdrawn at any time. APR shown is for first-lien position loans up to 95% Loan-To-Value (LTV) on single-family owner-occupied properties in PA, NJ, MD, and DE. Various APRs and terms may be available. Loans will require borrower to purchase title insurance and appraisal. Lender fees will apply. LTVs above 80% must escrow taxes. LTVs below 80% may escrow taxes at request of homeowner. Offer is subject to credit approval, income verification and appraisal. Existing mortgage loans must be current and have no late payments in the last 12 consecutive months. Property insurance is required. If the collateral is determined to be in a special flood hazard area, flood insurance is required. Properties currently listed for sale are not eligible. Property cannot be a co-op or mobile home. Other restrictions may apply. Rate current as of .
