Flickr, You skipped to and are entering the secondary navigation menu, You skipped to and are entering the main content, PHFA network of Approved Housing Counseling Agencies, Keystone Home Loan Program purchase price limit, Keystone Flex Loan Program Purchase Price Limit. Documentation: applicants must gather and provide for lender and PHFA review, all income and credit information, applicable permits, project specifications, connection fees for sewer connections, or, if you are replacing or repairing an on-lot septic system, verification from your local municipality that a wastewater disposal system neither exists nor is planned in the next five years. Facebook The Agency may make exceptions to these limits. Visit the Multifamily Application / Intent to Submit Online Submission Website. YouTube For sewer connections, any area of PA is eligible. PHFA loans are also originated by approved mortgage brokers who obtain sponsorship from a participating lender. For homes built prior to 1978 where the modifications may disturb painted surfaces, the borrower cannot use HOMEstead assistance but may use the ACCESS assistance if needed and if eligible. The HOMEstead Program is not available in all areas and may not be used in conjunction with any other PHFA downpayment and/or closing cost assistance program. Qualified borrowers can fund up to 75% of the "as completed" appraised value of the property. The home must also meet other property guidelines specified by federal rules. HOMEstead funds are forgiven at Flickr, You skipped to and are entering the secondary navigation menu, You skipped to and are entering the main content, Multifamily Application / Intent to Submit Online Submission Website, 02 - Program Guidelines and Application Process, 03 - LIHTC Qualified Allocation Plan (QAP), 07 - Request for Proposals - Tax Exempt Bonds, 08 - Taxable and 501(c)(3) Tax Exempt Bond Financing, 11 - Small Mortgage Assistance Program (SMAP), 11a - Small Loan Assistance Program - Term Sheet, 03a - Amendment to Qualified Allocation Plan, 03b - Amendment to Qualified Allocation Plan, 06 - Taxable and 501(c)(3) Tax Exempt Bond Financing, 07 - Volume Cap for Tax Exempt Bond Financing, 09 - Income Averaging Interim Guidance 2019 Applications, 07 - Taxable and 501(c)(3) Tax Exempt Bond Financing, 08a - Volume Cap for Tax Exempt Bond Financing, 02 - Qualified Census Tracts & Difficult to Develop Area, 03 - Participating and Non-Participating Jurisdictions, 05B - Rent and Income Limit Chart - with PennHOMES Funding, 05C - Rent and Income Limit Chart - Tax Credit Only. That's because the appraiser performs double duty. These limits may be increased up to 150% Area Median Income (AMI) based upon individual circumstances. Pennsylvania's Right-to-Know Law was introduced as Senate PDF Pennsylvania Housing Finance Agency (2022 U A The assistance loan will be amortized over a ten year term at zero percent (0%) interest. The Pennsylvania Housing Finance Agency (PHFA or the Agency) offers home purchase loans with competitive interest rates and lower fees. You may qualify for up to $6,000 in down payment assistance to buy a home. PDF Appraisal-related Policies, Practices, and Processes Borrower(s) liquid assets may not be greater than $50,000 after deducting the funds needed to close on the loan. Contact Us No restrictions on household income as of 1/1/2019. This means it has more lenient qualification requirements than a conventional mortgage and is subject to FHA loan limits.