OHCD Spotlights PHIL-Plus and Mini-PHIL Loan Program

July 10, 2013

The Office of Housing and Community Development (OHCD) is featuring UAC’s PHIL-Plus and Mini-PHIL Loans in their quarterly newsletter. To combat predatory lending, UAC’s Community Economic Development (CED) Department provides low-income families with the funds needed to repair their homes.

For homeowners with less-than-perfect credit, CED has got you covered. Eligible borrowers can obtain either a Mini-PHIL loan for up to $10,000 or a PHIL-Plus loan for up to $25,000. Loans can be used for home repairs, energy conservation improvements, and home modifications for the elderly or disabled. In addition to making repairs, borrowers can use up to half of the loan to pay off existing debts such as credit cards, past due utility bills, or back taxes. Both loan programs include housing counseling to ensure that homeowners are financially literate and are able to start improving their credit.  

Being a homeowner comes with many responsibilities; fortunately CED is here to help along the way. To learn more about CED’s loan program call (215)-851-1854.