For many buyers, the hardest part is not always the monthly payment. It is getting through the upfront costs. This page breaks down the Pennsylvania assistance options that may help with down payment and closing costs.
PHFA offers more than one type of assistance. One option is forgivable over time. Another is repaid monthly with no interest. Understanding that difference is the real starting point.
Some buyers may qualify for assistance that does not get paid back the same way a typical loan does, as long as the program requirements are met over time.
Other buyers may use an interest-free assistance loan that is repaid monthly over a fixed term, which can still make upfront costs more manageable.
These are the two PHFA assistance options most buyers will want to understand first.
A forgivable second loan that may provide 5% of the lesser of the purchase price or appraised value for eligible buyers.
PHFA Assistance OptionA 0% interest assistance loan that may provide up to 4% of the purchase price or market value, or $6,000, whichever is less.
Not exactly. Some assistance is forgivable over time, and some must be repaid. The better question is whether one of these structures makes your upfront costs more workable.
These are not automatic benefits. Buyers still need to meet credit, loan, and program requirements.
These assistance options are designed to pair with eligible PHFA first-mortgage loan programs, not stand alone.
Some buyers will care most about forgiveness over time. Others may be comfortable with a repayable structure if it helps them buy sooner.
We help buyers understand what these programs actually mean in real life. From helping you figure out which assistance path may be worth asking about to connecting you with trusted lenders who know the PHFA landscape, we make the financing side feel a lot less intimidating.
Whether you are still exploring or already getting serious, we can help you understand the next step before you start guessing.
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