Mission First Housing Group

City Unveils Low-Interest Home-Repair Loans for Philadelphia

by Mission First Housing

Philadelphia Public Record

City officials on Wednesday announced the launch of Restore Repair Renew, a program partnership between the Philadelphia Redevelopment Authority and nonprofit service providers to offer low-interest home repair loans of up to $24,999 to eligible homeowners.

“Today is a great day for middle-income individuals and families in the City of Philadelphia,” Mayor Jim Kenney said. “We understand that there are some families that work every day, and still need assistance in maintaining and preserving their home. These Philadelphians may not be able to qualify for a traditional home repair loan, and may need some assistance. The Philadelphia Neighborhood Home Preservation Loan Program, better known as Restore Repair Renew or RRR, is the answer.”

Restore Repair Renew was proposed by Council, and created by PRA, in support of the City’s goal of creating and preserving affordable, quality homes in neighborhoods where the markets are rapidly changing, as well as in stable neighborhoods at risk of decline. Restore Repair Renew is part of a wide-ranging effort to increase housing security for low-income people, working-class families, and seniors.

Click here to read the full story about PCCA (a member of Mission First Housing Group) and the Restore.Repair.Renew. program.

Posted Under: Mission First In The News