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.
Single family, owner occupied, principal residence. Property to be located within the Commonwealth of PA.
Max and Min Loan Size:
$2,500 to $50,000
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