PHFA K-FIT Down Payment & Closing Cost Assistance


Great news for first-time homebuyers! The Pennsylvania Housing Finance Agency (PHFA) has launched a new down payment and closing cost assistance program to help first-time buyers purchase a home. The Keystone Forgivable in Ten Years Loan Program (K-FIT) provides qualified buyers with a forgivable no interest, no payment second loan for up to five percent of the purchase price or appraised value of their property (whichever is less) with no maximum dollar limit!


K-FIT Program Features:

  • Primarily for first-time buyers or those buying in targeted areas such as Philadelphia County.
  • K-FIT second loan is forgiven at 10% a year over 10 years.
  • Provides 5% of the lesser of the purchase price or appraised value with no maximum dollar limit (Example: $250,000 purchase price = $12,500 down payment/closing cost assistance loan).
  • May only be used with the Keystone Home Loan program. Includes Conventional, FHA, USDA and VA loan types. 
  • Purchase price and income limits apply.


For more information about this exciting new program, contact us.



*Buyer must qualify. Subject to credit approval, purchase price and income limits. Contact us for full program details.