Housing Success | What We Do
Restore Repair Renew
The Restore, Repair, Renew program is a new initiative of the City of Philadelphia and Philadelphia Redevelopment Authority (PRA) to help Philadelphia homeowners to access low-interest home equity loans to invest in their properties. Lenders participating in the program are offering a 10-year fixed-rate 3% interest home equity term loan ranging from $2,500 to $24,999 (inclusive of 10% contingency) to eligible homeowners with a household income of 120% of area median or less.
Loans can fund a range of home repairs that focus on health, safety, weatherization, accessibility and modernizing outdated features. The goal of the program is to help Philadelphians improve their homes and strengthen their communities.
Want to show your support for Restore, Repair, Renew? Our social media toolkit can help you start spreading the word.
Did You Know?
By repairing homes, dozens of studies have shown that we can dramatically improve the health of the families and individuals living there. At the same time, we can preserve affordable housing that we could never afford to build today.
- Improving the health of a home can lower emergency room visits and health care costs, reduce school absenteeism, and improve the health and well-being of adults and children living in a home dramatically.
- 40% of asthma episodes are due to asthma triggers in the home, representing $5 billion lost annually in preventable medical costs
- Substandard conditions like mold, mildew, lead paint, and pests create and perpetuate health conditions like asthma and lead poisoning in our most vulnerable populations
Call 215-866-5200 to schedule an appointment.
Learn how Clarifi helped William Goldsby repair his home, sweet home.
How do I know how many contractors I need, and what type?
If you are unsure of which contractors to call and how many are allowed through the program, a Clarifi team member can walk you through the program’s contractor requirements, how many you may need, and what type of contractor would be best for your repairs. Clarifi can also provide you with information on how to find contractors and what to look for when selecting a contractor.
I have been told I met pre-eligibility with Clarifi, but now the lender is saying my debt-to income ratio/debt utilization is too high.
It may be that you took on a new payment or purchased something on your credit card after meeting pre-eligibility. One of Clarifi’s counselors can help you determine what might have affected your debt calculations and work with you to become eligible; Clarifi can help you sort out how to best manage your credit to ensure it does not jeopardize your loan.
Can the documents I submit to Clarifi be used by the Bank too?
Some of them can but the bank will ask for additional documents to determine your lendability depending on your personal circumstances.
I was pre-approved, but my lender denied me final approval because of my title, Why?
A pre-approval is also called a conditional approval meaning the lender has not done a detailed review of your title. You may also have another person’s name on your deed/title that you were unaware of or if known have been unable to clear for final approval. Clarifi can provide you with direction on how to resolve the issue so your loan can move forward.
My house needs more repairs than my pre-approved loan amount can cover.
Clarifi can work with you to identify other programs or grants that can leverage your loan dollars. Clarifi can also work with you to determine which projects are a priority for the health of your home as well the occupants.
What are the program’s Minimum Home Quality Standards?
Minimum Home Quality Standards means your home is safe, warm and dry (they are specific but general):
- DRY: your roof and walls are free of holes that let in rain or moisture; your plumbing is free of leaks
- WARM: your windows can open and close securely, your furnace and water heater work
- SAFE: your doors lock, floors and stairs are not trip hazards, there are no structural or electrical issues that are dangerous, your home is free of pest infestations and each floor has a smoke detector
What is the difference between Pre-Eligibility, Eligibility and Pre-Qualified?
Clarifi is responsible for determining eligibility for Restore Repair Renew. There are a few items we cannot access but the lenders can for instance access a Title Report, thus we say you are Pre-Eligible. The Lender will determine final Eligibility for the program and “lendability” which results in Pre-Qualification for the loan.
What is the Home Assessment?
Clarifi will send out a home assessor to go though your home and look for and document minimum housing standards set for the program. The assessor will also list and note repairs or changes that you want. You will receive a copy of this report and Clarifi will walk through it with you to ensure you understand your home needs.
What are the income eligibility guidelines for this program?
Restore, Repair, Renew is available for households with incomes of 120% of the area median or lower. Please see here for the 2021 maximum income guidelines.
Your Home Improvement Journey
DETERMINE IF YOU ARE ELIGIBLE
Are you eligible for the program? Clarifi is here to help you figure it out.
Call us at 215-866-5200 and we will work you through the pre-eligibility steps including what you need to submit to us for verification, including:
- Last 2 pay stubs
- Proof of all income sources (If you do not have this, we can help you obtain).
- Household Size Affidavit (Attached)
- Privacy Disclosure (Attached)
- Additional income documents if it applies (For example, a Social Security award letter)
We may have to ask you for additional information and documents depending on your personal situation.
SUBMIT YOUR LOAN APPLICATION
The lenders will provide you with a list of the documents they need to collect in order to process your pre-qualification amount.
The lenders are bound to follow certain regulatory and program requirements for your loan application review to determine the amount you can qualify for, including:
- Loan-to-Value ratio
- Debt-to-Income ratio
- Credit review
- Title search
There may be other reviews utilized depending on your personal situation, the lenders are committed to work with families who are determined to be eligible for the Restore Repair Program.
GET HOME REPAIR ESTIMATES
In order to preserve your most important asset, Clarifi will work with you after pre-qualification from the lender to figure out the home repairs you need and the repairs you want.
- Clarifi will send out a professional to perform a home assessment. You will get a copy of this to use as a guide for your repairs.
- Contractors providing estimates must be licensed and insured. If you do not have a contractor(s), Clarifi can provide a list of approved contractors familiar with the RRR program. The selection is yours to make and your contractor will have to submit license and insurance in order to have their estimates accepted.
- Clarifi can provide you with direction on how to select a contractor and review an estimate.
- When you decide on a contractor’s estimate, Clarifi will submit estimates to your lender.
HOME REPAIRS BEGIN
After the bank reviews final estimates and provides you with loan documentation, your work can begin.
You are the owner of the property and the projects. The contract with the contractors is with you; we know that may be daunting and we are able to help over the phone with questions you may have. Clarifi wants to provide you with the information necessary to manage the contractors and schedule so you can take on your next home improvement project on your own without our help.
Congratulations on your home repair! You have preserved your home, increased your home value and improved your health.
- Contact your lender to let them know the repair is complete. The lender needs to inspect the work before the contractors can be paid
- Request any written warranties on workmanship or parts, appliance or materials that were a part of your project.
- Read the warranties in case they require some sort of regular maintenance to an item, for instance changing filters on a furnace regularly or coating a roof, to remain in force
- Examine loan payment documents to ensure they are correct, and you understand payment terms
- ENJOY your repairs and renovations!
Meet Our Counselors
Home Repair Advocate
Internet Communications Specialist