Penn offers assistance in buying West Philly homes

Housing Fair

Are you considering buying a house in West Philadelphia? If so, Penn can help guide you through the process and even offer some financial assistance. It is one of the benefits of being a full-time faculty or staff member at the University or Health System.

Penn Home Ownership Services is holding a housing fair on Thursday, May 6, to provide more information about the University’s housing programs. Scheduled for 11 a.m. to 4 p.m. in the Hall of Flags in Houston Hall, the fair will make real estate agents, bankers, credit counselors and contractors available to answer questions or concerns.

Penn’s Enhanced Forgivable Loan Program allows full-time employees to receive $7,500 that can be used for down payment, closing costs, home renovations, energy audit home retrofits or the purchase of eco-products. The Closing Cost Reduction Program offers nominal discounted closing costs to the University community for the purchase of a home in West Philadelphia.

More than 1,000 University and Health System employees have taken advantage of the programs since 1965, when Penn first began offering West Philadelphia home buying incentives.

Toyin Adegbite-Moore, director of Penn Home Ownership Services, says the incentive programs have benefited both Penn employees and the local community. “It keeps the University connected to the community where it’s based,” she says. “And for the community, there’s a connection to the University.”

For more information on the programs offered by Penn Home Ownership Services, call 215-898-7422 or click here.

Originally published on April 22, 2010