Help Is Available for First-Time Buyers
Buying your first home is exciting, but the financial aspects can be daunting. Fortunately, Pennsylvania offers a variety of assistance programs designed to make homeownership more accessible. From down payment assistance to favorable loan terms, there are options for buyers at different income levels.
PHFA Programs (Pennsylvania Housing Finance Agency)
PHFA offers several programs for Pennsylvania homebuyers, including the PHFA Keystone Advantage Assistance Program which provides down payment and closing cost assistance. PHFA also offers favorable interest rate loans through the HFA Preferred program and the Keystone Government Loan program for FHA, VA, and USDA loans.
FHA Loans
FHA loans are insured by the Federal Housing Administration and are popular with first-time buyers because they require a down payment as low as 3.5% and have more flexible credit requirements than conventional loans. FHA loans are available for properties throughout Pennsylvania.
VA and USDA Loans
VA loans are available to eligible veterans, active-duty service members, and surviving spouses with zero down payment and competitive interest rates. USDA loans offer zero down payment for homes in eligible rural and suburban areas, which includes many parts of our service area. Both programs have specific eligibility requirements that your lender can help you understand.
