The Keystone Forgivable In Ten Year Loan Program
This new loan program is going to help a ton of new homebuyers.
I recently found out that the Pennsylvania Housing Finance Authority has a new loan program that you need to know about. It’s called K-FIT, or the Keystone Forgivable In Ten Year Loan Program. It’s a forgivable second loan, with 10% forgiven each year over the next decade and requiring no monthly payments.
"I’m taking a class to learn more about this product next week."
This program is primarily aimed at helping low and moderate income renters who are striving to become homeowners but struggling with closing costs. There are some significant restrictions and requirements you should know about including:
• A minimum FICO score of 660
• Must complete homebuyer education counseling program
• Can only be used with PHFA’s K-FIT program
I’m taking a class on this product next week. If you have any interest in this, let me know and I’ll pass what I learn along to you.
If you have any other questions for me, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.