PHFA Mortgage
Looking for an affordable path to homeownership? PHFA mortgage programs through C&N could be the key.
PA Housing Finance Agency (PHFA) Mortgage Programs
C&N is proud to be an approved participating lender with the Pennsylvania Housing Finance Agency (PHFA), an organization committed to making homeownership more accessible for Pennsylvania residents. If you’re a first-time buyer or need help with upfront costs, a PHFA loan could be a great fit
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Minimum down payment requirements
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Available to first time and non-first time homebuyers
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Multiple programs available to homebuyers
Why Choose a PHFA Mortgage?
PHFA offers 30-year, fixed-rate mortgages with competitive interest rates and no prepayment penalties. Your principal and interest payment stays the same for the life of the loan, making it easier to plan your budget.
Keystone Forgivable in Ten Years (K-FIT) Loan Program
The K-FIT program provides downpayment and closing cost assistance to eligible homebuyers using PHFA’s Keystone Home Loan.
What You Could Receive:
- A forgivable second loan equal to 5% of the lesser of the purchase price or appraised value — with no cap on the dollar amount
- The loan is forgiven over 10 years, at a rate of 10% per year
Eligibility Highlights:
- Must qualify for the Keystone Home Loan program
- Minimum FICO score of 660
- Must receive maximum financing
- Funds can be used for downpayment and/or closing costs
- A minimum borrower contribution is required per PHFA guidelines
- Completion of homebuyer education through a PHFA-approved counseling agency is required
Keystone Flex Purchase & Improvement
PHFA's Keystone Flex Purchase & Improvement with K-FIT lets buyers purchase and repair a home while receiving down payment and closing cost assistance—all in one loan. It includes a conventional first mortgage and up to $30,000 for eligible home improvements.
K-FIT adds a forgivable second mortgage, offering 5% of the purchase price or appraised value (no cap) for down payment and/or closing costs. This assistance is forgiven over 10 years, at 10% per year.
Ready to Get Started?
Talk with a C&N Mortgage Expert to see if a PHFA loan is right for you. We’ll walk you through the process, check your eligibility, and help you take the next step toward homeownership.For more info, visit PHFA.org, call 717-780-3871, or email [email protected].
Loans are subject to credit approval.
