Pennsylvania Housing Finance Agency

A PHFA loan is a type of mortgage loan offered by the Pennsylvania Housing Finance Agency to help residents of Pennsylvania buy a home. PHFA offers several different types of loan programs, including fixed-rate mortgages, adjustable-rate mortgages, and down payment and closing cost assistance programs. These loans are designed to make it easier for people to afford a home in Pennsylvania and can be a good option for first-time home buyers or those with low-to-moderate incomes.

PHFA Loan Benefits:

• Down payment and closing cost assistance: PHFA offers several programs that can help borrowers with the upfront costs of buying a home, including down payment assistance and closing cost assistance.

• Flexible eligibility requirements: PHFA loans are available to a wide range of borrowers, including first-time home buyers, low-to-moderate income households, and those who have been previously denied a mortgage loan.

• Multiple loan options: PHFA offers several different loan programs, so borrowers can choose the one that best fits their needs and financial situation.

• Support and guidance: PHFA provides support and guidance to borrowers throughout the home buying process, including assistance with finding a lender, applying for a loan, and understanding their loan terms.

Overall, PHFA loans can provide a more affordable and accessible option for residents of Pennsylvania who want to buy a home.