• Restore  Repair  Renew is a new initiative of the City of Philadelphia and Philadelphia Redevelopment Authority (PRA) to 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.

• Restore  Repair  Renew loans can fund a range of home repairs that focus on health, safety, weatherization, accessibility, and quality of life. The goal of the program is to help Philadelphians improve their homes and strengthen their communities.

Who can apply?*

Philadelphia homeowners:

  • Whose primary residence needs repairs
  • With credit scores above 580
  • With homeowner’s insurance
  • Who have paid their property taxes or are in a payment agreement with the City

*  Additional underwriting criteria: Borrowers must have a loan-to-value ratio at or below 105% of after rehab-value and a back-end debt-to-income ratio at or below 43%.

Income Guidelines

Income guidelines change annually.

What services are provided?

  • Determine if you are eligible for the program
  • Receive financial counseling
  • Get help identifying necessary repairs
  • Connect you to a participating lender

What repairs are eligible?

  • Roof, siding, foundation, and masonry
  • Sidewalk and driveway resurfacing/replacement and outside stair repair
  • Window and door repair and replacement
  • Adaptations that allow for easier access to and  mobility within a home
  • Fixtures, plumbing, sewer and waterline repairs and replacements
  • HVAC system and water heater repair or replacement
  • Electrical repairs
  • Treatments related to lead based-paint
  • Mold and radon mitigation
  • And other health and safety related repairs

This program and the criteria and conditions thereof may be subject to future modification by the PRA. The definitive terms and conditions of any loan offered under the program will be set forth in fully executed loan documents. Unless and until such loan documents are fully executed, there shall be no contractual obligation for the lender(s) to provide any loan nor shall there be any liability whatsoever between and among the PRA, the lender(s) and any homeowner seeking a loan under the program.