Frequently Asked Questions – FAQs

Application Process

  • How often do you review applications?
    Applications are reviewed on a rolling basis. Please ensure your application is completely filled out and accurate. 

 

  • Can I apply multiple times if I did not get it the first time?
    There is no limit for the number of times that you apply for the grant. Please note that this is not a lottery, and the number of applications will not increase your chances of being selected. 

 

  • Will you inform me if I did not get the grant?
    Because RiseUp receives hundreds of applications each year, we are unable to respond to everyone who does not fully complete each step in the process. You will be informed along the way as to what your next step will be. Please see below.

 

  • What is the process from start to finish so I don’t miss a step?
    1. Complete your Homebuyer Education including Personal Action Plan.
    2. Complete our Intake Form.
    3. Fill out the required HUD authorization forms that will be sent to you.
    4. Provide information based on your housing history and budget.
    5. Set an appointment with a RiseUp HUD-certified housing counselor through the link that will be sent to you after completing Steps 1- 4.
    6. Complete your introductory interview with your counselor; your counselor will ask you for proof of income, taxes, savings, and a credit history.
    7. If qualified, you will receive a letter of reservation for the grant during which you will have 90 days to search for and purchase your home using the funds. 

 

  • Why are there so many forms?
    As a HUD-certified housing counseling agency, RiseUp is required to obtain certain information as per federal guidelines. Other forms, such as authorization and privacy forms, are designed to protect you by informing you of your rights.

Grant Details

  • How much money do you give away?
    RiseUp is one of only two HUD-certified housing counseling agencies in Philadelphia qualified to offer the $15,000 NeighborhoodLIFT grant to qualified individuals. Other aspects of the grant include a 1-year home warranty, last will & testament, and up to $1500 in emergency funds for repairs not fully covered by the home warranty.

 

  • Are there restrictions with the grant?
    The $15,000 grant may be used for:

    • Down Payment
    • Closing Costs
    • Buy down of the interest rate
    • Payoff up to $5000 of eligible* installment debt. The payoff must be necessary to qualify for a loan. Eligible debt includes collections, student, loans, and auto loans.
    • The grant is a forgiveable lien, where 20% of the grant is forgiven each year until the lien is satisfied.
    • If any of the funds are used to pay off collections or installment debt, that amount is immediately forgiven.
    • The grant CAN be layered with other down payment assistance funds.

 

  • Is the grant limited to a certain geography?
    The NeighborhoodLIFT grant is limited to the City of Philadelphia.

 

  • Are there any requirements if I do receive the grant?
    Each grant awardee must submit proof of income, savings, taxes, and credit to their RiseUp counselor. The grantee must also contribute a minimum of $1000 toward the purchase and have 2 months of expenses saved at closing. 

 

  • How will I know if I got the grant?
    Each awardee of the NeighborhoodLIFT grant will receive a reservation letter from their RiseUp counselor that will reserve the funds. You will then have 90 days to select and purchase your home. 

 

  • Should I assume I got the grant if I took the homebuyer education course?
    Completing the course does not entitle you to a grant at RiseUp or anywhere else. However, it does prepare you better for homeownership.

Eligibility & Requirements

  • What are the requirements to be considered for this program?
    Completion of a HUD-Certified homebuyer education program is a requirement. There are criteria  for being mortgage-ready such as credit score, savings, and job stability that may affect your ability to be pre-approved for a mortgage through one of five lenders approved through the NeighborhoodLIFT program.  A session with a HUD-certified housing counselor through RiseUp or AHCOPA is also mandatory before the purchase. Two additional housing counseling sessions are also required after you have closed on your home. 

 

  • Must I have completed homebuyer education before applying?
    Completing a homebuyer education program is a requirement in the process. You can take the free, online and pre-recorded RiseUp homebuyer education course here. Make sure to complete all of the quizzes and fill out the Personal Action Plan in order to receive your certificate of completion. 

 

  • Where can I take a homebuyer education course?
    RiseUp offers a free homebuyer education course online here. Completion of all the quizzes and the Personal Action Plan, found here, are required for certification.  You may also take a course with another HUD-certified housing counseling agency.

 

  • Must I prove my income?
    Income must be verified through pay stubs, bank statements, tax returns, and other acceptable documentation.

Additional Assistance

  • Can you help me find more money to buy a home?
    RiseUp HUD-certified housing counselors can assist you in finding additional programs to reduce your out-of-pocket expenses and increase your equity.
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