Update your kitchen
Remodel your bathroom
Install new kitchen cabinets
Install wall-to-wall carpet
PNC Bank, Citizens Bank and TD Bank
HIGHLIGHTS
Is
your Philadelphia home in need of
some repair or improvement?
If
you own and occupy your home in the City of Philadelphia, a Philadelphia Home
Improvement Loan (PHIL) is a great opportunity to make those needed repairs
and improvements! What’s more, with no equity or home-appraisal requirements,
you can apply even if you just bought your home.
With great
low rates and expanded income guidelines, now is the perfect time to take
advantage of this offer made available to Philadelphia homeowners.
What are the features of
a PHIL loan?
Features include:
- Low fixed rates, 3% APR and 5% APR*
- Interest is usually tax-deductible**
- Borrow up to $25,000
- No application fees
- No recording fees
- No points
- Terms up to 20 years
What type of property is eligible for a PHIL loan?
To be eligible for this great
offer, your property must be an owner-occupied residence, located within the
City of Philadelphia. Single-family residences may contain between one and
four residential units (duplex, triplex, quadraplex).
* Annual Percentage Rates (APR) are based on household size and annual household income. Annual Percentage Rates were calculated assuming the loan has a disbursement date of the first of the month. For example, when borrowing $25,000 for 20 years at 3% APR, your monthly payment would be approximately $138.65 and at 5% APR, your monthly payment would be approximately $164.99.
** Consult your tax advisor concerning tax deductibility.