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Program has provided more than $4 million in grants since launch three years ago.
WILMINGTON, Del., February 12, 2025--(BUSINESS WIRE)--WSFS Bank, the primary subsidiary of WSFS Financial Corporation (Nasdaq: WSFS), today announced the launch of its 2025 WSFS Down Payment Grant Program, reaffirming its commitment to making the dream of homeownership a reality for individuals and families in the community. With $1.5 million in grants available for 2025, WSFS continues its mission to help those with limited savings secure safe and affordable housing.
Since the program’s launch three years ago, WSFS has provided over $4 million in grants to assist homebuyers, significantly reducing barriers to homeownership. This initiative has made a lasting impact, helping countless families find a place to call home.
"We understand that purchasing a home can be a challenging process, especially for first-time buyers," says Ron Dutton, Senior Vice President, Director, Community Reinvestment for WSFS Bank. "With initiatives like this, we aim to simplify the process and empower more people to achieve their dreams of homeownership."
The program offers qualified borrowers up to $5,0001 in assistance for down payment and/or closing costs. Designed for individuals and families with limited savings, the program provides flexible guidelines and competitive mortgage rates tailored to meet the needs of each Customer.
Key program features include:
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No required repayment for grant funds awarded.2
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Flexible guidelines to accommodate various borrower needs.
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Homebuyer education programs to prepare first-time homebuyers.
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6% seller’s assist, depending on the borrower’s down payment.
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Ability to combine with other programs, such as the WSFS Neighborhood Opportunity Program.
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Competitive mortgage rates and exemplary customer service.
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A complimentary financial plan and consultation from Bryn Mawr Trust.
To be eligible for a WSFS Down Payment Grant, total household income must be at 100% or below the Area Median Income (AMI) and the property must be located in Majority-Minority Census Tracts (MMCT) within the following counties in the Greater Philadelphia and Delaware region:
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Delaware – Kent, New Castle and Sussex
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New Jersey – Burlington and Camden
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Pennsylvania – Bucks, Chester, Delaware, Montgomery and Philadelphia
For more information, visit https://www.wsfsbank.com/borrowing/mortgages/affordable-mortgage.
To speak with a WSFS representative about the Down Payment Grant Program, call 855.901.9737 or call 888.456.0146 to discuss the Neighborhood Opportunity Program.