Homebuyers who need assistance with their down payment and closing costs may be eligible for a new home purchase assistance loan from the Pennsylvania Housing Finance Agency, Keystone Forgivable in Ten Years Loan Program or K-FIT.
The K-FIT loan is a forgivable second loan, with 10% forgiven each year over the next decade, requiring no monthly payment. The goal of the loan is to assist low- and moderate-income renters who are striving to become homeowners but struggling with the cost.
“Experience shows that down payment and closing costs are two of the biggest barriers to homeownership that buyers face,” said PHFA Executive Director and CEO Robin Wiessmann. “For those homebuyers who qualify, our new K-FIT loan eliminates or reduces those hurdles and will help make homeownership achievable for many families.”
Call me, Cheryl Smith, at 610-849-2737