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7/2013 PHFA FORM 3 PENNSYLVANIA HOUSING FINANCE AGENCY MORTGAGOR S AFFIDAVIT OF ELIGIBILITY AND ACKNOWLEDGMENT OF PROGRAM REQUIREMENTS FOR KEYSTONE HOME LOAN HOMESTEAD AND MORTGAGE CREDIT CERTIFICATE PROGRAMS To be completed and signed by the Applicant s at application and reaffirmed at closing or conversion in the case of C/P loans.

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A mortgage-to-income ratio of 31% or lower or below 43% when including other debts. If putting 10% down, a FICO score of 500-579. If putting 3.5% down, a FICO score of 580 or above. Property appraisal through an FHA-approved appraiser.

Once approved, your home loan is underwritten to either the FHA, VA, USDA or Fannie Mae and Freddie Mac guidelines and then passed on to the Pennsylvania Housing Finance Agency (PHFA), who buys the loan from the lender. The mortgage payment is paid to PHFA for the life of the loan.

Requirements 3% minimum down payment. 620 minimum credit score. Income cannot exceed 80% of the Area Median Income (AMI) for your county. Contribute at least 1% of the loan amount or $1,000 (whichever is less). ... Must attend an approved homebuyer education course (in-person if credit score is below 680)

Household income and purchase price cannot exceed county limits. The home must be your primary residence. Minimum credit score of 660 for some programs. Borrowers with FICO scores lower than 680 must complete home buyer education.

Eligibility Requirements The purchase price of the home you intend to purchase cannot exceed the Keystone Flex Loan Program Purchase Price Limit. All borrowers must have a minimum FICO score of 660.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232