Keystone Home Loan PLUS Program

by: Iola Bonggay

The Pennsylvania Housing Finance Agency, otherwise termed as PHFA, is an independent agency established in year 1972 in an attempt to assist the provision of reasonable and affordable housing opportunities the elderly, persons and families of modest means, and people suffering from disabilities.

The programs and activities of the PHFA are carefully guided by its general agency mission which is "to to make the Commonwealth a better place to live while fostering community and economic development, the Pennsylvania Housing Finance Agency provides the capital for decent, safe, and affordable homes and apartments for older adults, persons of modest means, and those with special housing needs."

In line with this mission, the Pennsylvania Housing Finance Agency has constituted the estbalishment of the Keystone Home Loan PLUS Program wherein it aims to offer the lowest PHFA interest rate to first time home buyers in the State of Pennsylvania.

The Keystone Home Loan PLUS Program doesn't differ much from the its brother, the Keystone Home Loan Program, aside from the fact that the former offers a lower interest rate and the need to satisfy a little more eligibility requirements.

In order to be eligible to submit an application under the Keystone Home Loan PLUS Program, a borrower must meet the eligibility requirements of the original Keystone Home Loan Program which states that the borrower:

1) Must be a first time homebuyer
  (continued...)

Keystone Home Loan PLUS Program
  Page 2

About The Author Iola Bonggay is an editor of TopGovernmentGrants.com one the the most comprehensive Websites offering information on government grants and federal government programs. She also maintains Websites providing resources on health grants and environmental grants.

Additional Resources

category - Home Buying Programs

California Housing Finance Agency
The California Housing Finance Agency, otherwise known as CalHFA, is an independent, self-supporting agency that was chartered to as the State's affordable housing bank to make low interest rate loans through the sale of tax-exempt bonds; with these bonds being repaid by revenues generated through mortgage loans, instead of taxpayer dollars.

---

Construction Incentive Program for First Time Home Buyers in New York
Under the State of New York Mortgage Agency, the Construction Incentive Program has been established. The goal of this program is to enable the construction of one and two family homes through the provision of funds, up to 97% of the value of the property, to eligible low to moderate income first time home buyers.

---

Department of Housing and Urban Development: Continuum of Care Homeless Assistance Programs
The CoC Homeless Assistance programs is designed to reduce the incidence of homelessness in established CoC communities, thereby the need to assist homeless individuals and families during the process of quickly transitioning to self-sufficiency and permanent housing.

---

Keystone Government Loan Program for Homebuyers in Pennsylvania
The Pennsylvania Housing Finance Agency has been running the Keystone Government Loan Program in which it intends to provide first mortgage financing on loans that are insured by the Federal Housing Administration, the Rural Development, and the Department of the Veterans' Affairs.

---