Keystone Advantage Assistance Loan Program
Keystone Advantage Assistance Loan Program helps eligible
Pennsylvania home buyers purchase a home with a down payment and
closing cost assistance loan. The Advantage loan is interest free!
Qualified borrowers are able to receive up to two percent (4 %) of the sales price (or appraised value), up to a maximum of $6,000. The assistance grant is paid back monthly and spread over a ten year period.
Buyers purchasing a new home (never previously occupied) are eligible for up to $6,000. The minimum loan amount is $500. There is no prepayment penalty for paying off the "Advantage Loan" early.
Keystone Advantage assistance loan may be used in combination
with the HFA Preferred™, HFA Preferred Risk Sharing™,
Loan or Keystone Government Loan mortgage programs and bears the
same fixed interest rate as the first mortgage.
Home buyers are required to meet the guidelines of a PHFA first mortgage along with the criteria below:
The applicant’s liquid assets cannot exceed $50,000 after deducting the funds needed to close on the loan. This includes cash and funds in checking and savings accounts, bonds, stocks, certificates of deposit and similar liquid accounts. Retirement savings accounts such as 401(k)s, IRAs and pension funds will only be considered if they can be withdrawn without a penalty due to borrower meeting age requirement and/or being retired.
How much does it cost to buy a house in PA?
closing cost calculator to estimate your down payment, closing costs and
monthly loan payment
How much does it cost to buy a house in Pennsylvania?
Use the PA mortgage calculator to estimate the down payment, closing costs and monthly payment for FHA, VA, USDA & conventional loans.