Keystone Home Loan PLUS Program
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2) If not a first time homebuyer, must be planning to purchase a home in a targeted area

3) Must not have a collective annual income (derived from the all the annual income of the adults who plan to occupy the desired home) that will exceed the limits set by the Keystone Home Loan Program

4) Must have a good credit history and sufficient income to cover the mortgage

5) Must possess sufficient funds that could cover the mortgage and closing costs.

6) Must have sufficient funds that would cover the downpayment cost of the desired home.

In addition, the borrower must also satisfy the addition requirements as set by the Keystone Home Loan PLUS Program:

1) All of the adults who is set to live in the home within 12 months after paying the closing costs must all be classified as first time home buyers, which entails that all of them should not have owned or occupied a single home for the last 3 years.

2) The gross yearly household income of all the adults that seek to reside in PHFA-financed home within 12 months from loan closing should not go beyond the Keystone Home Loan PLUS income limit.

3) The actual purchase price of the borrower's desired home must not exceed the limits set by the Keystone Home Loan purchase price limits.

4) The collective household liquid assets should not be more than $5,000 after the subtracting the funds that are needed to close the loan.

Keystone Home Loan PLUS Program
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About The Author Iola Bonggay is an editor of TopGovernmentGrants.com one the the most comprehensive Websites offering information on government grants and federal government programs. She also maintains Websites providing resources on environmental grants and grants for youth programs.

Additional Resources

category - Home Buying Programs

First Time Homebuyer Programs in Arkansas
The Arkansas Development Finance Authority was primarily created to develop safe, decent and affordable housing for low and moderate income Arkansans. The authority's primary goal is to administer funding in the form of tax exempt bonds and other debt instruments through several programs which are divided into three main categories: Economic Development, Homeownership, and Affordable Rental Housing.

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First Time Homebuyer Programs in Georgia
The state of Georgia offers a variety of programs to assist first time home buyers. The programs are offered primarily through the Georgia Department of Community Affairs.

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Downpayment Assistance Program for the First Time Home Buyers in North Carolina
In an attempt to contribute to the eradication of this problem, the North Carolina HFA has established the Downpayment Assistance Program for the First Time Home Buyers wherein they provide interest-free, deferred second mortgages up to $8,000 to cover the downpayment and closing costs of a chosen property.

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First Time Homebuyer Programs in California
The programs of CalHFA are constantly guided by its overall agency mission which is to "finance below market rate loans to create safe, decent and affordable rental housing and to assist first-time homebuyers in achieving the dream of homeownership."

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