Pennsylvania resident?
We have an affordable solution for you
Pennsylvania Housing Finance Agency (PHFA) loan is a program that provides qualified residents in the Commonwealth of Pennsylvania with affordable homeownership options. Since its inception in 1972, the PHFA has funded over 167,400 single-family home mortgage loans for more than $13.1 billion.
Benefits of a Univest PHFA loan
- Available for purchases and refinances
- Fixed-rate, 30-year term
- Financing up to 97% loan to value
- Competitive interest rates
- Down payment and closing cost assistance
Eligibility requirements
- Homebuyer education courses are required
- Minimum of 620 credit score
- Must be a resident of Pennsylvania
Types of properties available to finance with a PHFA loan
- Single family homes
- 1-2 family properties
- Condominiums
What is the difference between PHFA and FHA loans?
- PFHA loans are issued by the Pennsylvania Housing Finance Agency
- The Federal Housing Administration does not issue the loan; they provide insurance to lenders who issue FHA loans
- FHA loans are available in any state whereas PHFA loans are only available to residents of PA
- PHFA loans only offer a fixed-rate option and a slightly higher loan-to-value than FHA loans
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