Keystone Home Loan PLUS Program
Page 2

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
  Back to Page 1

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 health grants and environmental grants.

Additional Resources

category - Home Buying Programs

Grants From the Department of Housing and Urban Development
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.

---

Achieving the Dream Program for First Time Home Buyers in New York
One of the programs of the State of New York Mortgage Agency, is the Achieving the Dream Program wherein it seeks to provide eligible low income first time home buyers with really low down payment mortgage financing programs.

---

Department of Housing and Urban Development's Dollar Homes Program
The Dollar Homes Program revolves around the process of selling single family homes for a superbly reasonable price of $1 (plus closing cost) to low-to-moderate income families, granted that these houses have been acquired through foreclosure by the Federal Housing Administration, and have already been actively marketed for at least six months and still remained unsold after that certain period of time.

---

First Time Homebuyer Programs in Maine
The first time homebuyer programs of MaineHousing are all especially designed to contribute to the achievement of its primary agency mission which is to "assist Maine people to obtain and maintain decent, safe, affordable housing and services suitable to their unique housing needs."

---