PHIL Plus and Mini-PHIL Loan Details

What Are The Qualifications To Apply?

  • Homeowners must own and occupy their home.
  • Home must be located within Philadelphia.
  • Homeowners must have a minimum credit score of 580. If this minimum means you do not qualify, we can help you improve your credit score with credit counseling.
  • Homeowners must have a Debt-To-Income ratio of 45% or lower. This will be determined by a Housing Counselor.
  • Homeowners must meet our Income Guidelines (at 115% or below Section 8 Income Guidelines)
  • Homeowners must be able to afford the loan payments.

What Repairs Qualify?

Any project that can be understood as improvement, modification, or repair qualifies for this loan. The most common projects are:

  • Water Heater repair or replacement;
  • Electrical repairs;
  • Front or back stair repair;
  • Furnace replacement;
  • Roof replacement;
  • Plumbing;
  • Weatherization and/or energy efficiency maintenance;
  • Door and window replacement, restoration or maintenance;
  • Porches and structural support.

How Do I Apply?

STEP 1: CHECK QUALIFICATIONS AND DOWNLOAD INTAKE FORM

  • Do you own your home?
  • Is your home located in Philadelphia?
  • Do you have a credit score of 580 or above?
  • Are you at or below our income limits?

Household Size

Income Limits

(per year)

1 Person

$64,745

2 People

$73,945

3 People

$83,145

4 People

$92,345

5 People

$99,820

6 People

$107,180

7 People

$114,540

8 People

$121,900

 

If you answered yes to all of these questions, please download the Intake Form here.

STEP 2: SCHEDULE AN APPOINTMENT WITH YOUR NEIGHBORHOOD HOUSING COUNSELOR

If you qualify, schedule a free appointment with your DHCD neighborhood housing counselor.

During the appointment, your counselor will explain home improvement alternatives, fill out a formal referral packet and explain the application process. Please bring the following documents to your appointment:

 

  • Photo ID;
  • Two (2) recent paystubs;
  • Monthly mortgage payment;
  • Monthly credit card payments;
  • Monthly student loan payment (or estimate if on deferment);
  • Deed;
  • Proof of Homeowners Insurance;
  • Intake Form (not required before appointment)

STEP 3: YOUR REFERRAL PACKET IS SENT TO THE URBAN AFFAIRS COALITION

After your counseling session, the referral packet will be reviewed by the Urban Affairs Coalition to ensure accuracy and completion. Once the packet is approved, it will be forwarded to the bank and branch of your choice. Your housing counselor will contact you with the name and number of the bank representative that you will call for an appointment.

STEP 4: MAKE A FORMAL APPLICATION WITH ONE OF THE PARTICIPATING BANKS

We currently work with Citizens Bank with branches throughout the city.

What Are The Mini-PHIL-Plus Terms, Rates, and Fees?

The PHIL-Plus and Mini-PHIL Programs can be used for home repairs and paying off debts including past due utility bills. The Mini-PHIL would be a good choice for smaller repairs or energy conservation improvements. The PHIL-Plus is typically used for larger renovations or modifications.

Currently only the Mini-PHIL Program is accepting applications, working with Citizens Bank as a lender.

  • Minimum loan amount is $1,000
  • Maximum loan amount is $15,000
  • Loan terms are up to 120 months (10 years)
  • Interest rate is fixed at 6.0%
  • Maximum debt consolidation is $7,500

What If I Don’t Qualify Right Now?

If your credit scores are lower than the program minimum, you can bring them up by working with a certified credit counselor. CLARIFI is a great place to begin. For more information call 215-563-5665. Their website address is http://www.clarifi.org/counseling/.

Additionally, you can speak further about your eligibility and qualifications with the Mini-PHIL-Plus Program Administrator at 215-851-1847.


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