30-year fixed-rate first mortgage for first-time homebuyers (or non-FTHBs buying in a Targeted Area, and discharged veterans).

Paired with: Conventional, FHA, VA, USDA

• First-time homebuyer: Required
• Primary residence only
• Income: County-based PHFA Keystone Home Loan income and purchase price limits.
• Homebuyer education required

First-time homebuyer requirement waived in Targeted counties/areas and for discharged veterans. Conventional loans require a 660 minimum credit score. Pairs with Keystone Advantage, K-FIT, or K-DATE assistance.

Source: www.phfa.org

30-year fixed-rate conventional first mortgage with reduced mortgage insurance. No first-time homebuyer requirement and no purchase price limits.

Paired with: Conventional

• First-time homebuyer: Not required
• Primary residence only
• Income: HFA Preferred income limits apply.
• Homebuyer education required

Borrower contributes at least $1,000 of own funds. Eligible borrowers may also receive a $500 PHFA Grant, and in-person pre-purchase counseling may earn a $300 closing cost credit. 2-unit properties not allowed.

Source: www.phfa.org

30-year fixed-rate first mortgage for FHA, VA, and USDA-RD loans. No first-time homebuyer requirement.

Paired with: FHA, VA, USDA

• First-time homebuyer: Not required
• Primary residence only
• Income: No PHFA-specific income or purchase price limits; FHA, VA, and RD limits apply.
• Homebuyer education required

Borrowers with a credit score below 680 must complete a course before closing. Can be paired with the Keystone Advantage Assistance Loan.

Source: www.phfa.org

Up to 4% of the purchase price or market value, or $6,000, whichever is less. 0% interest second mortgage repaid monthly over 10 years. Must be paired with a PHFA first mortgage (Keystone Home Loan, HFA Preferred, or Keystone Government).

Paired with: Conventional, FHA, VA, USDA

• Primary residence only
• Minimum FICO: 660
• Homebuyer education required

Liquid assets after closing must not exceed $50,000. Employees of participating Employer Assisted Housing employers may receive up to $8,000. Cannot be combined with other PHFA DPA programs except the Access Modification Loan Program.

Source: www.phfa.org

Second mortgage of up to 5% of the purchase price or appraised value (no maximum dollar cap). No interest and no payments; forgiven 10% per year over 10 years.

Paired with: Conventional, FHA, VA, USDA

• First-time homebuyer: Not required
• Primary residence only
• Minimum FICO: 660
• Income: Keystone Flex income and purchase price limits (PHFA Appendix F).
• Homebuyer education required

Paired with a PHFA Keystone Flex or Keystone Home first mortgage. Liquid assets after closing must not exceed $50,000. Conventional and FHA borrowers contribute the lesser of $1,000 or 1% of the loan amount.

Source: www.phfa.org

0% interest, 30-year second mortgage with no monthly payments: 8% of the lesser of purchase price or appraised value for loans of $150,000 or less (subject to availability), or 5% for larger loans. No maximum dollar cap. Due on sale, refinance, or payoff of the first mortgage.

Paired with: Conventional, FHA, VA, USDA

• First-time homebuyer: Not required
• Primary residence only
• Minimum FICO: 660
• Income: Keystone Flex income and purchase price limits (PHFA Appendix F).
• Homebuyer education required

Paired with a PHFA Keystone Flex or Keystone Home first mortgage. Conventional and FHA borrowers contribute the lesser of $1,000 or 1% of the loan amount.

Source: www.phfa.org

Grant of up to $10,000 or 6% of the purchase price, whichever is less, toward down payment and/or closing costs. Must be repaid if you move or refinance before living in the home for 15 years.

First-time homebuyer (no ownership in past 3 years). Income limits apply. Property must be a single-family home or duplex in Philadelphia (no condominiums). City-funded housing counseling is required before signing an Agreement of Sale. Available while funding lasts.

Source: www.phila.gov