Provides a 30 year fixed rate loan with a low down payment, very low interest rates and removes the need for private mortgage insurance. And the city will work with financial institutions to create a more user friendly mortgage product and You can earn up to 120% of the area median income so that you can qualify [for the One Philly Mortgage program]. Why does this become important? Because if you can't meet the underwriting criteria in the prime industry, you'll never have access to the opportunity to be a homeowner. (12:03–12:17)
CLAIM
Asserts eligibility for the One Philly Mortgage program up to 120% of the area median income.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
