Finding the Right Homebuyer Assistance Program
Have you been saving money for a down payment on your dream home, but unsure about the homebuyer assistance programs available to you? With a range of programs tailored to match different homebuyers’ situations, you can explore the resources below and find the perfect homebuyer assistance program to help achieve your goals.
Discover Mortgage Assistance Options in Pennsylvania
We are here to make purchasing a home easier for you. By clicking on the program links below, you can learn more about the details, benefits, and application processes of the mortgage assistance choices available to you.
The PA Homebuyer Assistance Center is committed to helping you find a program that meets your needs and discover your path to homeownership. Connect with our team to get started.
Pennsylvania Statewide Programs
First Front Door Program – $5,000
First Front Door (FFD) can help homebuyers with closing costs and down payment. For every $1 you contribute, FFD will provide $3 in assistance, up to $5,000. The loan is forgiven if the property is not sold prior to five years, but is not forgiven if sold prior to five years. Funding is limited and available on a first-come, first-serve basis.
Employer Assisted Housing (EAH) Initiative – $8,000
Eligible employees can receive a Keystone Advantage Assistance Loan of up to $8,000 for the down payment and/or closing cost assistance in the form of an interest loan amortized over ten years.
HOMEstead Downpayment and Closing Cost Assistance Loan – $10,000
Homebuyers eligible for the HOMEstead program may qualify for up to $10,000 in down payment and closing cost assistance in the form of a no-interest, second mortgage loan.
Keystone Advantage Assistance Loan Program – $6,000
The Keystone Advantage Assistance Loan Program provides a second mortgage loan to help with the costs associated with the purchase of a home. Qualified borrowers can receive up to four percent (4%) of the purchase price or market value or $6,000 (whichever is less) in down payment and closing cost assistance to be repaid monthly. The assistance loan will be amortized over a ten-year term at zero percent (0%) interest.
Good Neighbor Next Door
The Good Neighbor Next Door Program is available through the Housing and Urban Development Program for teachers, firefighters, law enforcement officers, and emergency medical technicians. Eligible buyers can receive up to a 50% discount on the list price of the home as long as they commit to live in the property for 36 months.
Keystone Forgivable in Ten Years Loan Program (K-FIT)
The Keystone Forgivable in Ten Years Loan Program (K-FIT) is available for qualified homebuyers, to provide assistance towards down payment and/or closing costs. This program provides a second mortgage loan to help buyers supplement the costs of homeownership. Eligible borrowers may receive five percent (5%) of the lesser of the purchase price or appraised value with no maximum dollar limit in down payment and closing cost assistance. The K-FIT loan is forgiven on an annual basis over ten years at a rate of ten percent (10%) a year.
Your Resource for Homebuyers Assistance Programs
The PA Homebuyer Assistance Center acts as a resource for shoppers searching for options that make purchasing a home more affordable. If the programs listed above do not meet your needs, contact our team. We will work with you to try and find a solution for purchasing your dream home.
Quaint Oak Mortgage is an approved lender for some of the programs that are being offered on this webpage. All homebuyer assistance and grant programs are subject to the recipient obtaining a qualifying first mortgage loan from a participating lender. Not all applicants will qualify. All home lending products are subject to credit score, LTV (loan to value), DTI (debt to income) requirements and property approval. Rates, program terms and conditions are subject to change without notice. Not all products are available in all states or counties and the amount may vary depending on geographical location. Other restrictions and limitations apply depending on the Grant or Homebuyer Assistance program available. Quaint Oak Mortgage is not an approved lender for every program. Please note that some programs listed on this website may involve a second mortgage with monthly payments. In some cases these payments can be forgiven, deferred, or subsidized in some manner until resale of the mortgaged property. Grants and Down payment assistance amount may be due upon sale, refinance, transfer, repayment of the loan, if the property is rented or not occupied by the recipient or if the senior mortgage is assumed during the term of the loan. Some programs require repayment with interest and borrowers should become fully informed prior to closing. Some Down Payment assistance and Grant programs may only be applied once to an eligible mortgage/property, regardless of the number of applicants. Approved applicants may not always receive the maximum allowable amount offered through the program. Some grant programs have limited funding for the year and will close for the year once the funding threshold has been met. Please refer to the program guidelines for additional details. Financing is based on the lower of the appraisal value or contract purchase price. Maximum income and Max loan amount limits may apply. For some grant programs where income limitations apply the borrower cannot be a student working less than 30 hours per week. Borrowers cannot receive program funds as cash back in excess of earnest money deposits and or closing costs. Down Payment Grant programs may be considered taxable income, a 1099-MISC may be issued, consult with your tax Advisor for further details. Homebuyer education classes may be required to participate in the homebuyer assistance and grant programs. Homebuyer assistance programs and Grant programs are not available with all mortgage loan products being offered or advertised, please ask for details when applying. Some homebuyer assistance programs are offered with FHA loan products- FHA loans require an up-front mortgage insurance premium (UFMIP) which may be financed, or paid at closing and monthly MI premiums will also apply. For down payments less than 20% on conventional loans, Private Mortgage Insurance (PMI) may be required and PMI charges may apply. Many down payment assistance programs are only available to first time homebuyers.