Home Purchase Assistance Program
The Home Purchase Assistance Program encourages and supports home ownership within defined borders of the Drexel University City Campus community. The program offers a forgivable loan to benefit eligible full- and part-time Drexel University faculty and professional staff toward the purchase or renovation of homes within a defined area.
The defined boundary spans the area from 31st Street to 48th Street (east-west) and from Girard Avenue to Chestnut Street (north-south). The Philadelphia neighborhoods of Mantua, Powelton Village and West Powelton are located within this boundary area. A map of this boundary area is located below.
Eligible Drexel faculty and professional staff members may take advantage of one of the two loans provided by the University:
- Home Purchase Loan – $15,000.00 forgivable loan to be used toward the purchase of a home within the program's defined boundary area. More information here.
- Home Renovation Loan – $5,000.00 forgivable loan to be used towards approved renovations (interior and exterior) at a home within the program's defined boundary area. In addition to the $5,000 forgivable loan for home renovation, Drexel will match employees' dollar-for-dollar spending up to an additional $2,500. More information here.
Human Resources Assistance
Throughout the home buying process, HR will partner with each faculty and professional staff member to provide:
- Access to Participating Vendors – Drexel works with various vendors including real estate agents and mortgage lenders. View the Participating Vendors page.
- Step-by-step guidance throughout home buying process (from lender selection to settlement).
Prior to initiating any contracts or commitments, the faculty or professional staff member must schedule an appointment with Courtney Claiborne at email@example.com or 215.895.1666 to discuss and confirm eligibility.
Frequently Asked Questions