MY LIFE Home Repair/Debt Consolidation Assistance
Second Mortgage Guidelines
- Neighborhood Housing Services of Greater Berks (NHSGBI) offers Home Repair and Debt Consolidation Assistance Second Mortgage Program for qualified low to moderate income residents of PA.
- 105% or lower of the Area Medium Income as assigned by 2021 HUD chart.
- Funds may be used for any purpose within home repairs and debt consolidation parameters.
- Designed to provide cash flow relief due to COVID 19 quarantine challenges.
- 2 years of interest only payments
- Borrow up to 125% of what your home is worth – MUST BE A HOME OWNER
- $30,000 limit
Single family, owner occupied, principal residence. Property to be located within the Commonwealth of PA.
Max and Min Loan Size:
$2,500 to $30,000
Maximum C L-T-V:
Interest Only Period:
***OPTIONAL 24 months interest only period (extends term if selected.)
Contact NHS for Current Market Rates – Range is 5.99% to 8.99% based upon credit profile.
5,7-,10-,15- or 20-year Terms
2nd position or greater lien recorded against collateral primary residence.
See Traditional NHS/PHLC Lending Guidelines
* Borrower to meet for at least one (1) hour with an NHS Housing counselor individually.
$99.00 Non-Refundable Application Fee (to cover third party costs.)
No major derogatory credit in the last 12 months (1st Lender Guidelines)