PHFA Keystone Forgivable in Ten Years Loan Program (K-FIT)
Pennsylvania Housing Finance Agency offers Keystone Forgivable in Ten Years Loan Program (K-FIT) to first-time buyers in Pennsylvania: as much as 5% of the price or value, as a forgivable loan.
- Amount
- As much as 5% of the price or value
- Type of assistance
- Loan that can be forgiven
- Only open to first-time buyers
- There are exceptions, but yes
- Your credit score
- At least 660
PHFA Keystone Forgivable in Ten Years Loan Program (K-FIT): how do you pay it back?
It's a forgivable loan: a second mortgage forgiven by 10% each year until ten years have passed.
Once you've held onto the home and kept its first mortgage for as many years as the program requires, the loan is written off.
Who's able to get PHFA Keystone Forgivable in Ten Years Loan Program (K-FIT)?
- To qualify, your income must be inside the Keystone Flex Loan Program Income Limit.
- Only first-time buyers: yes, though some exceptions apply.
- Your credit score needs to be at least 660.
- You get it together with a PHFA Keystone Home loan, whether Conventional, FHA, VA or RD.
Your county and household size set most of the limits. The HUD income limits lookup on our site shows the median income in your area and where your household falls.
Applying for PHFA Keystone Forgivable in Ten Years Loan Program (K-FIT)
- The Pennsylvania Housing Finance Agency sends this money out through its approved lenders. You apply with one of them as part of your home loan application.
- Before setting the money aside for you, the lender checks your income and credit and makes sure the home meets the program's rules.
- At closing, the money is paid toward your closing costs and down payment.
On Pennsylvania Housing Finance Agency's page for Keystone Forgivable in Ten Years Loan Program (K-FIT) you can read the full rules and check if applications are open, or choose a lender from the agency's participating lender list.
Bring your questions about PHFA Keystone Forgivable in Ten Years Loan Program (K-FIT) to a lender
Tell us where you're buying and a lender that works with Pennsylvania's programs can tell you whether PHFA Keystone Forgivable in Ten Years Loan Program (K-FIT) fits you, and what you could combine with it.
Don't want to call? Share your details and the lender will get in touch.
More programs in Pennsylvania for first-time buyers
- PHFA Grant:
Grant of up to $500.
- PHFA Keystone Advantage Assistance Loan Program:
Repayable loan of as much as 4% of the price or value, never more than $6,000.
- PHFA Keystone Due At Time of Expiration (K-DATE):
A deferred loan can be as high as 8%, based on the price or value.
- PHFA Access Downpayment and Closing Cost Assistance Program:
A deferred loan for as much as $15,000.
Every Pennsylvania program for first-time home buyers · Down payment help in each state