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Are You Still Renting> Pennsylvania Offers Down Payment Help To First-Time Home Buyers
Dated: May 3 2021
Views: 165
Pennsylvania HFA launches Two Purchase Assistance Programs
In mid-March, the Pennsylvania Housing Finance Agency launched two new DPA programs to help
buyers pay closing costs and down payments. PHFA's K-FIT program provides a forgivable second
loan, with 10 percent forgiven each year over ten years. No monthly payment is required. A K-FIT
loan provides 5 percent of the purchase price or appraised value with no maximum dollar amount.
All borrowers requesting K-FIT funds must have a minimum FICO score of 660. Borrowers obtaining
K-FIT funds must complete homebuyer education counseling regardless of their credit score.
PHFA's new Homebuyer Purchase Assistance program is a $500 grant to help buyers pay either a
down payment or closing costs.
Click here to see if you are qualified for down payment help.
Frances Thorsen
Frances Thorsen is a leading real estate author and thought leader. She got her real estate license and became a REALTOR® in 1985. She was an early adopter of real estate technology on the Interne....
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