State Bond – PHFA

We offer the PHFA K-Gov with Advantage Assistance program.
Primary residences only may be financed, and only one or two units.
A 30-year fixed-rate FHA mortgage with a second interest-free loan for $6,000 (or 4% of the purchase price, whichever is less,) amortized over 10 years to help with closing costs.
Non-occupying co-borrowers allowed, (higher credit requirements may apply).
The borrower must contribute $1,000 or 1% of the loan amount, whichever is lower, and the payments for third party reports such as the appraisal may be included in the borrower’s contribution.
Homebuyer education may be required, with higher credit it may only be suggested.
Limits apply to income, assets and the purchase price, dependent upon location.