This is another program offered by PHFA (Pennsylvania Housing Finance Agency). Through the Keystone Advantage Assistance Loan Program, eligible applicants can receive assistance in the form of a 10-year, no interest second mortgage to put towards down payments and closing costs. The amount of assistance depends on the market value or purchase price of the property, but homebuyers can receive as much as 4% of the purchase price or market value (or up to $6,000; whichever amount is smaller). The minimum loan amount applicants can receive is $500. Because this assistance is a loan, it needs to be paid back monthly.

In order to qualify, applicants must have a credit score of at least 660, and cannot have more than $50,000 in liquid assets after closing on their mortgage.

This assistance program can also be combined with other PHFA mortgage loans.

Other programs in Pennsylvania:

• Delaware County Homeownership First Program
• HOMEstead Downpayment and Closing Cost Assistance Loan
• Lancaster Housing Opportunity Partnership DPA Program

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