The Objective

My Life Home Repair/Debt Consolidation Assistance

  • 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.

  • Funds may be used for any purpose within home repairs and debt consolidation parameters.

  • 2 years of interest only payments

  • Borrow up to 125% of what your home is worth – MUST BE A HOME OWNER

  • $30,000 limit

Fill Out Our Intake Form To Get Started

Second Mortgage Guidelines

1- unit Single family, owner occupied, principal residence. Property to be located within the Commonwealth of PA.

$2,500 to $30,000

125%.

***OPTIONAL 24 months interest only period (extends term if selected.)

Contact NHS for Current Market Rates – Range is 8.990% to 10.990% based upon credit profile.

SCORE RATES SCORE RATES
761+ 8.99% 681-700 9.99%
731-760 9.25% 661-680 10.25%
716-730 9.50% 641-660 10.50%
701-715 9.75% 621-640 10.75%
580-620 10.99%

5,7-,10-,15- or 20-year Terms

Max 50%

Max 50%

2nd position or greater lien recorded against collateral primary residence.

620 (case by case)

$1,100.00 average closing cost NHS fees included with the loan.

* 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)