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Pennsylvania First Time Home Buyer Programs

Looking for first time home buyer programs in Pennsylvania?

Pennsylvania welcomes you signIf you're like most home buyers, you want the lowest rate and a little closing cost assistance . . . if possible. This page attempts to provide you with a snippet of information of the various mortgage programs and closing cost assistance programs available in PA. By no means is this page complete. If you discover a program or grant program not listed, kindly send me an E-mail so that your fellow Pennsylvanian's can benefit by your discovery.

Who is a first time home buyer?

The State of Pennsylvania and many county programs define a first time home as a purchaser who has not owned (held title to) a home within the past 36 months.

PA State FlagSo where do you start? Download the Mortgage Shopping Worksheet.pdf provided by the Federal Reserve. It's a nice loan comparison flyer. And while you're at it, download the Settlement Booklet.pdf. This booklet contains useful information on purchasing a home. You will find additional information on the PA Home Buyer Page. Good Luck


PHFA logo

Pennsylvania Housing Finance Agency - PHFA

The Pennsylvania Housing Finance Agency (PHFA) offers home loans with low interest rates and 30 year terms. Eligible buyers may also qualify for a down payment and/or closing cost assistance loan.

The Pennsylvania Housing Finance Agency (PHFA) was created in 1972 to provide affordable housing products to the citizens of Pennsylvania. Since its creation in 1972, PHFA has generated $11.2 billion of funding for more than 152,900 single-family home mortgage loans. PHFA offers several home loan programs for Pennsylvania first time home buyers (and non-first time home buyers who purchase in "targeted" counties"). Here are some of the first time home programs offered by the Pennsylvania Housing Finance Agency:

Keystone Home Loan Program

Nice suburban homeApplicants must meet sales price and income limits (see link below). Some Pennsylvania counties are classified as targeted (T), meaning, home buyers in these counties are not required to be first time home buyers in order to obtain financing through PHFA; however, applicants are required to meet all other PHFA underwriting guidelines.


Keystone Home Loan PLUS Program

Emoticon saying goodbyePHFA Keystone Home Loan Plus Program has been discontinued ! ! !

The Plus program was discontinued at the end of January 2012. This program was designed for low income home buyers. The Keystone PLUS provided the lowest interest rate available. This program has income and purchase price limits.


Keystone Government Loan Program

Nice houseThe Keystone Government Loan Program (also called K-Gov) is based on FHA, VA (Veteran) or USDA financing; and unlike the Keystone Home Loan program, there are:
No sales price limitations
No income limitations
No first time home buyer requirements. Read more

HFA Preferred Risk Sharing™ & HFA Preferred™ Loans

Nice houseThe HFA Preferred Risk Sharing™ and HFA Preferred™ loans are underwritten to conventional underwriting guidelines, specifically, the My Community Mortgage.

The minimum down payment with the HFA Preferred Risk Sharing™ and HFA Preferred™ loans is only 3% (For example: Sales price $100,000 X 3% = $3,000). The only difference between the two loans is that the HFA Preferred™ requires mortgage insurance if the home buyer's down payment is less than 20%. Read more

PHFA Keystone Advantage Assistance Loan Program

Real estate agent handing keys to new home buyerThe Keystone Advantage Loan Program offers a 2nd mortgage financing to help with the closing costs connected with the purchase of a home. Eligible borrowers can receive a maximum of two percent (2%) of the sales price up to a maximum of $4,000 which is to be repaid monthly. This loan is amortized over a ten year term. Keystone Advantage can be used to pay for the down payment or closing costs in conjunction with the Keystone Home Loan or Keystone Government Loan programs and carries the same monthly interest rate as the first mortgage. Read more

PHFA LOAN PROGRAMS COMPARISON
Keystone Home Loan Program Keystone Government Loan Program HFA Preferred Risk Sharing™ HFA Preferred™
Loan Type FHA VA USDA Conventional FHA VA USDA Conventional Conventional
Minimum Down Payment 3.50% 0% 0% 20% 3.50% 0% 0% 3% 3%
Mortgage Insurance Yes No Yes No Yes No Yes No Yes
Eligible Properties 1 - 2 Units 1 - 2 Units 1 - 2 Units 1 - 2
Units
1 - 2 Units 1 - 2 Units 1 - 2 Units 1 Unit
and Pud's
1 Unit
and Pud's
First Time Home Buyer Requirement Yes* Yes* Yes* Yes* No No No No No
Income Limit Yes Yes Yes Yes No No No Yes Yes
Sales Price Limit Yes Yes Yes Yes No No No No No
* The first-time buyer requirement does not apply if the borrower is purchasing in a targeted county or area.

Pennsylvania County Home Buyer Programs

Adams County PAADAMS COUNTY, PA

Eligible home buyers are able to obtain a low interest loan from $2,000 to $7,000 for their down payment or closing costs. Read more at: Pa First Time Home Buyer.net

Allegheny County PAALLEGHENY County, PA

Allegheny County offers a first time home buyer program and a closing cost assistance program. Read more

Pittsurgh inclineCITY OF PITTSBURGH

The City of Pittsburgh offers financing for the first time home buyer who purchase a single family home, duplex, triplex or 4 - unit residence (PHOP Program). Some areas of the City of Pittsburgh are deemed to be "targeted", meaning, the buyer is not required to be a first time home buyer in these targeted areas. The City of Pittsburgh also offers closing cost and down payment assistance grants for eligible home buyers. 100% financing is possible with seller assist and closing cost/down payment grant. Read more

ARMSTRONG COUNTY, PA -

Beaver County PABEAVER COUNTY, PA

Down payment and closing cost assistance to eligible first time home buyers. Read more

BEDFORD COUNTY, PA -
BERKS COUNTY, PA - 
BLAIR COUNTY, PA -
BRADFORD COUNTY, PA - 

Bucks County PABUCKS COUNTY, PA

The first time home buyer assistance program assists households earning less than 80 percent of county median household income with down payment or mortgage closing assistance (up to $10,000), which is repaid when the property is sold, refinanced, or the title is transferred.
Read more at: Pa First Time Home Buyer.net

BUTLER COUNTY, PA -
CAMBRIA COUNTY, PA - 
CAMERON COUNTY, PA -
CARBON COUNTY, PA - 


Centre County PACENTRE COUNTY, PA

Could you use $10,000, or 10% of the purchase price (whichever is less) toward your down payment or closing costs? If so, Centre County has a great first time home buyer program. Read more

State College

The State College First Time Home Buyer (FTHB) program offers mortgage and closing cost assistance to both moderate and lower income families. Read more at: Pa First Time Home Buyer.net

Chester county on PA state mapCHESTER COUNTY, PA

Chester County offers an awesome program for first time home buyers; perhaps the best closing cost assistance program in the State of Pennsylvania. The maximum loan of $10,000 for the purchase of a house in Chester County township and $12,500 for purchase of a home in the City of Coatesville or in a Chester County borough. - Read more

CLARION COUNTY, PA -  CLEARFIELD COUNTY, PA - 


Clinton county on PA state mapCLINTON COUNTY, PA

Closing cost assistance loan

The Clinton County provides closing cost assistance to eligible home buyers who are purchasing their first home in the county.
Read more at: Pa First Time Home Buyer.net

Columbia county on PA state mapCOLUMBIA COUNTY, PA

The housing authority will match, dollar for dollar, the required 3% borrower's down payment or equity investment. Any amount over the required 3% investment will be matched dollar for dollar up to a total maximum amount of $5,000 or 10% of the purchase price, whichever is less. Read more at: Pa First Time Home Buyer.net

CRAWFORD COUNTY, PA -
CUMBERLAND COUNTY, PA -  

Dauphin County PADAUPHIN COUNTY, PA  - Did you know that Dauphin County provides down payment and or closing cost assistance up to $3,000 to eligible first time buyers of Dauphin County homes? Read more


Delaware county on PA state mapDELAWARE COUNTY, PA
The Homeownership First Program provides counseling and up to $5,000 in down payment and closing costs to qualifying first time home buyers purchasing a property in Delaware County. Funding is limited and there is no guarantee that persons completing the counseling program will receive financial assistance. The assistance takes the form of a 0% interest loan that is only repayable upon sale or transfer of the property and is forgiven after five (5) years if the property is located in Revitalization areas.
Read more at: Pa First Time Home Buyer.net

ELK COUNTY, PA -
ERIE COUNTY, PA -
FAYETTE COUNTY, PA -
FOREST COUNTY, PA -
FRANKLIN COUNTY, PA -
FULTON COUNTY, PA - 
GREENE COUNTY, PA -
HUNTINGDON COUNTY, PA -
INDIANA COUNTY, PA -
JEFFERSON COUNTY, PA -
JUNIATA COUNTY, PA -
LACKAWANNA COUNTY, PA 

City of Scranton

The First time Homebuyer Program
This program provides funds in the form of a forgivable, deferred payment loan to income eligible, first time home buyers who wish to purchase a home in Scranton. These funds assist the home buyer with his/her down payment and closing costs. Generally, the beneficiary will not have to pay any portion of this loan back to the City if he/she maintains the home as his/her primary residence for at least five years. Read more at: Pa First Time Home Buyer.net

Lancaster County PALANCASTER COUNTY, PA

Lancaster Housing Opportunity Partnership provides eligible first time home buyers with down payment and closing cost assistance of 8% of the sales price up to a maximum of $5,000.00.
Read more at: Pa First Time Home Buyer.net

LAWRENCE COUNTY, PA -
LEBANON COUNTY, PA -
LEHIGH COUNTY, PA -
LUZERNE COUNTY, PA -
LYCOMING COUNTY, PA - 
MCKEAN COUNTY, PA -
MERCER COUNTY, PA -
MIFFLIN COUNTY, PA -
MONROE COUNTY, PA - 
   

Montour county on PA state mapMONTOUR COUNTY, PA

The assistance loan is a second mortgage up to a maximum of $5,000 or 10% of the purchase price, (whichever is less). And here's the best part, NO monthly payments are required for the assistance loan, and NO interest is charged while you occupy the home. Read more at: Pa First Time Home Buyer.net

Montgomery County PAMONTGOMERY COUNTY, PA

Montgomery County First Time Homebuyers Program
Qualified home buyers may receive help with settlement costs up to 8% of the purchase price, and if your earnings are below 80% of the median income, Montgomery county may contribute an additional 2% toward the down payment for a total assistance of 10% of the sales price. Read more

Northampton PANORTHHAMPTON COUNTY, PA

The Northampton County First Time Homebuyer Program provides home loans to eligible first time buyers of Northampton County homes. These loans provide up to $5,000 to help with the cost of the house and closing costs. The home must be located in an area of the County where at least 42% of the residents have middle incomes or less. This includes the cities of Easton and Bethlehem and parts of almost all other municipalities in the County. Read more

NORTHUMBERLAND COUNTY, PA
PERRY COUNTY, PA -
PHILADELPHIA COUNTY, PA -
PIKE COUNTY, PA -
POTTER COUNTY, PA -
SCHUYLKILL COUNTY, PA - 
SNYDER COUNTY, PA -
SOMERSET COUNTY, PA -
SULLIVAN COUNTY, PA -
SUSQUEHANNA COUNTY, PA -
TIOGA COUNTY, PA - 

Union county on PA state mapUNION COUNTY, PA

Union County provides qualifying home buyers with be $10,000 or 10% of the purchase price for down payment and or closing cost assistance. The total amount of any loan shall not exceed $10,000.
Read more at: Pa First Time Home Buyer.net

Venango County PAVENANGO COUNTY, PA

The Venango County First Time Home Buyer Program
The program provides eligible applicants with an closing costs or down payment assistance loan of up to $5,000 or 10% of the purchase price, whichever is less. Read more at: Pa First Time Home Buyer.net

WARREN COUNTY, PA - 

Washingto County located in PennsylvaniaWASHINGTON COUNTY, PA

Up to $4,500 in closing cost assistance is available to individuals and families purchasing a single family home in Washington County. Read more at: Pa First Time Home Buyer.net

WAYNE COUNTY, PA -
WESTMORELAND COUNTY, PA - 
WYOMING COUNTY, PA -
YORK COUNTY, PA - 

BANK PROGRAMS - ( CRA )

Bank drawingMany banks offer special financing to support their community reinvestment initiatives (CRA). These mortgage programs are usually based on household income that is at or less than the median household income for the respective county. If your household income is at or less than the Pennsylvania median household income, you should call the banks in your area to see if you are eligible for a CRA loan. These programs will vary between banks. Some banks will offer lower down payment, some closing cost assistance, reduced mortgage insurance, etc.



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