Home Improvement Loans
• Restore • Repair • Renew is a new program to help Philadelphia homeowners invest in their homes. This program will help Philadelphia homeowners access low-interest loans to invest in their properties. Lenders participating in the program are offering 10-year, 3% interest loans that range from $2,500 to $24,999 to eligible homeowners. Loans can fund a range of home repairs that focus on health, safety, weatherization, accessibility, and quality of life. The goal is to help Philadelphians improve their homes and strengthen their communities.
Home improvement loans are a way to keep a home in good shape. But some loans are what are called “predatory loans.” Predatory loans have high fees and interest rates and can cause financial trouble for a borrower.
PHFA offers loan products to help homeowners avoid predatory loans.
The Pennsylvania Housing Finance Agency offers the HomeStyle® Renovation program. This program allows eligible homebuyers purchasing a home or existing homeowners seeking a refinance mortgage to repair, remodel, renovate or complete energy improvements. Information is online or at 800-822-1174