WSFS Bank Offers Down Payment Assistance Through 2025 Mortgage Grant Program with $1.5 Million Commitment
Program has provided more than $4 million in grants since launch three years ago.
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:
- No required repayment for grant funds awarded.2
- Flexible guidelines to accommodate various borrower needs.
- Homebuyer education programs to prepare first-time homebuyers.
- 6% seller's assist, depending on the borrower's down payment.
- Ability to combine with other programs, such as the WSFS Neighborhood Opportunity Program.
- Competitive mortgage rates and exemplary customer service.
- 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:
- Delaware – Kent, New Castle and Sussex
- New Jersey – Burlington and Camden
- 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.
1May vary based on program underwriting guidelines. Home must be a primary residence located in a census tract where the population is at least a 50% majority minority census tract and the total household income cannot exceed 100% of the Area Median Income (AMI) of the census tract as determined by the HUD published 1 to 4 household member Area Median Income.
21099-MISC will be issued to borrower on awarded funds. WSFS Bank will leverage other down payment and/or closing costs Grant programs prior to deployment (or use) of WSFS Grant Funds. WSFS Grant funds awarded while funds last for the award program year. Loan program is subject to change. Offer subject to credit approval.
About WSFS Financial Corporation
WSFS Financial Corporation is a multibillion-dollar financial services company. Its primary subsidiary, WSFS Bank, is the oldest and largest locally headquartered bank and trust company in the Greater Philadelphia and Delaware region. As of December 31, 2024, WSFS Financial Corporation had $20.8 billion in assets on its balance sheet and $89.4 billion in assets under management and administration. WSFS operates from 114 offices, 88 of which are banking offices, located in Pennsylvania (57), Delaware (39), New Jersey (14), Florida (2), Nevada (1) and Virginia (1) and provides comprehensive financial services including commercial banking, consumer banking, treasury management and trust and wealth management. Other subsidiaries or divisions include Arrow Land Transfer, Bryn Mawr Capital Management, LLC, Bryn Mawr Trust® , The Bryn Mawr Trust Company of Delaware, Cash Connect® , NewLane Finance® , Powdermill® Financial Solutions, WSFS Institutional Services® , WSFS Mortgage® , and WSFS Wealth® Investments. Serving the Greater Delaware Valley since 1832, WSFS Bank is one of the ten oldest banks in the United States continuously operating under the same name. For more information, please visit www.wsfsbank.com.
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Media: Connor Peoples
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