Media Fellowship House • Building a Community Free of Injustice Since 1994
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The Money Match program is designed for low and moderate income first time homebuyers who are committed to purchasing a home but need a little help saving for closing costs. The program matches the participants' savings on a 2:1 basis by providing $4,000.00 when they save a total of $2,000.00. This provides the participant with a combined total of $6,000.00. These funds are then used to help the participant pay their closing costs.

About the program:

In partnership with the United Way of Greater Philadelphia & Southern New Jersey, Media Fellowship House is offering a matching savings program to provide eligible first-time homebuyers with up to $4,000.00 to help them purchase their first home. Thanks to a generous pledge from philanthropist Ira M. Lubert, this program will help low and moderate income residents build their savings to help pay for closing costs.

Eligible participants:

Not everyone is eligible for this unique program and spots are limited. At a minimum, each participant must meet the following basic eligibility criteria:

  • Must have Earned Income (they must have a job or business where they receive income)
  • Annual income must not exceed a maximum amount based on household size
  • Net worth cannot exceed $10,000.00 (excludes 1 vehicle)


Additional Requirements:
In addition to the basic eligibility criteria above, each program participant must agree to the following:

  • Must be 100% committed and able to purchase their first home within a 1 year time frame. (they must be able to get approved by a lender)
  • Must commit to opening a new bank account and making one deposit every month for at least six months in order to save $2,000.00 (at least $10 must be deposited every month)
  • Must complete first time homebuyer workshop and face to face counseling sessions as required


Benefits:

  • Participants who complete the program will have their $2,000.00 deposit matched 2:1 by The United Way in the amount of $4,000.00 for a combined total of $6,000.00 that they can use for closing costs ($2,000.00 + $4,000.00 = $6,000.00).
  • This program can be combined with Media Fellowship House’s First Time Homebuyer Program where eligible participants receive up to $5,000.00 for closing costs. The two programs combined would provide up to $11,000.00 for closing costs.
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Media Fellowship House • 302 S. Jackson St., Media, PA 19063 • 610.565.0434 • MediaFellowshipHouse.org