Pennsylvania First Time Home Buyer Assistance

The Pennsylvania Housing Finance Agency (PHFA) offers home loans with low-interest rates and fees through two programs:

KEYSTONE HOME LOAN- This one has the fewest eligibility requirements and the highest income and purchase price limits. You don’t even have to be a first-time home buyer if you are buying a home in a ’Targeted’ area. These areas are indicated on the list of income and purchase price limits(call me for the list). First-time buyers may apply to receive up to $1,500 in assistance in the form of a zero percent interest loan that does not require repayment until the buyer pays off or refinances the Keystone Home Loan first mortgage, or sells the home.

KEYSTONE HOME LOAN PLUS–This one has the lowest rate available, but the income and purchase price limits are also lower, and there are some additional eligibility guidelines(call me for these guidelines). Buyers eligible for the PLUS program may also receive up to $3,000 in assistance in the form of a zero percent interest loan that does not require repayment until the buyer pays off or refinances the PLUS first mortgage, or sells the home.

Both programs have maximum income and purchase price limits that vary by the county in which you are buying a home. You may also need to be a First Time Buyer and meet other eligibility guidelines specific to each program. All of PHFA’s loans have a fixed interest rate for 30 years, and there is no early payoff penalty.

If you are interested in hearing more about these programs, please contact me for more information.  Your dream home is waiting for you!