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The
core of the Home•Buy•Now program is a dollar-for-dollar match
of up to $3,000 of City funds per participating employee, which becomes
available when a participating employer provides financial assistance
to an employee buying a home. Other than requiring that the home be
within Philadelphia, Home•Buy•Now funding comes with “no
strings attached.” Employers decide the level of assistance
they wish to provide (employers may offer as little as $500 per participating
employee; some employers offer more than $3,000), whether to offer
the program as a recruitment and/or retention tool, and what employee
classifications to include in the program. Many employees will also
be eligible for an additional $2,000 in state aid.
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