First-time homebuyers in Philadelphia? Here are some tips and resources

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There’s no place like home.

And as part of Metro Philadelphia’s effort to report on affordable housing across Philadelphia, we have launched a new Real Estate section aiming to inform and educate potential homebuyers throughout the city.

The section will highlight resources available to Philadelphians, such as the Philly First Home Program —which offers an assistance grant for up to $10,000 to help first-time homebuyers. To be eligible, you must complete a free homeownership counseling program designed to teach potential homebuyers about their rights and responsibilities, deeds and legal housing documents, as well as money management and how to avoid dangerous mortgages. For additional information and eligibility requirements, visit

What can first-time homebuyers expect?

To gain additional insight on what first-time homebuyers can expect, Metro recently sat down with local realtors Giraldo Real Estate Group to learn more.

The team at Giraldo Real Estate Group are pictured.Provided / Giraldo Real Estate Group

What advice would you give to a first-time homebuyer? 

Don’t wait for the right time to buy. The time is now—you will look back in 5 to 10 years on what you wished you would have bought.

How much money do you need for a down payment?

Currently there are several grants available to first homebuyers, even if you make up to $100,000, so technically you could buy a house with as little as $1,000.

What options are there for someone with bad credit?

Don’t be afraid to check your credit. I came to a real estate company because sometimes you think you have bad credit, but it’s not that bad and you could still qualify. And even if it is bad enough that you won’t qualify, a real estate agency can give you some advice, and show you how to fix it, so you can achieve the dream of homeownership.

How do you choose the right mortgage?

This is something that you should talk to your real estate professional about, because depending on your situation, there are several options available—and it doesn’t always mean that a 30 year fix is the best option for you. You should always talk with your real estate professional and that is someone that you should trust, also.

What options do Philadelphians have for affordable housing?

PHOTO: Visit Philly

Currently, Philadelphia is still one of the most affordable homes in the East Coast, so I would say take advantage of that and also of all the grants and money available for eligible homebuyers, especially minorities.

The Giraldo Real Estate Group is an award-winning brokerage serving the Philadelphia area. Founded in 2007, GREG is focused on serving the Hispanic market and bridging the cultural gaps of the real estate industry. For additional information, visit