PHFA does not provide mortgage financing for 3 or more units. p#"\N1X]7HobA'B+X.&3_?='Bgn p&C` RT~niG, Threshold Basis Limits Determining Rural Status of Project Site 9% Minimum Point Score Thresholds Credit Estimates (as of Feb. 1) Credit Estimates (as of Feb. 23) Requirements for March 16, 2022 Application Deadline Frequently Asked Questions, as of Feb. 16 First Round Applicants, 2022 9% Credit 9% Applications, 2022 First Round . Power PDF Create2022, PHFA, Application, LIHTC, 9%, 9 percent, Tax Credits, Low Income Housing Tax Credits, Multifamily, PennHOMES, HTF, Loan Limits, HTF Loan Limits, PennHOMES Loan Limits, PennHOMES and HTF Loan LimitsPower PDF Create2022-04-05T09:51:32-04:002022-04-05T09:52:39-04:002022-04-05T09:52:39-04:00application/pdfMaxium PennHOMES and HTF Loan Limits PHFAMaximum PennHOMES and HTF Loan Limits2022, PHFA, Application, LIHTC, 9%, 9 percent, Tax Credits, Low Income Housing Tax Credits, Multifamily, PennHOMES, HTF, Loan Limits, HTF Loan Limits, PennHOMES Loan Limits, PennHOMES and HTF Loan Limitsuuid:89c70276-0778-7555-4a8f-b464e58d9c98uuid:3f36dd50-2955-b0c1-dd52-9c9ba6ba2dbe All Rights Reserved - Privacy Policy | Terms & Conditions | Consent to Contact Customer | TREC Consumer Protection Notice | Information About Brokerage Services, Loan Calculator: Paying Extra On Principal, How to Check Your Credit Score for Free (Without Hurting It), First-Time Home Buyer Grants and Programs 2022. 0000004150 00000 n 05/25/2022 PHFA HTF/TC Program Income Limits, subject to change. A. J. Johnson. To get a loan through the Keystone Home Loan Program, you need to meet any one of three basic requirements: The income and purchase price limits for the Keystone Home Loan program depend on both the county you want to buy in and your household size. 0000003003 00000 n Once the loan gets approved, PHFA buys and begins servicing your loan. For example, a LIHTC development in Philadelphia with a 2-bedroom unit assigned at . For instance, Delaware County in Pennsylvania has an income limit of $84,320, while Bradford County has a limit of $58,320. Apr 13 2023: PHFA announces community revitalization funding recipients. endstream endobj x* FUm>]]G,zeZs.3 >8w[zJ(FQ go/>}^>](D}ot.smp^U80gY On April 18, 2022, HUD published the 2022 income limits for HUD programs as well as for the Low-Income Housing Tax Credit and Tax-Exempt Bond programs. The Pennsylvania Housing Financing Agency (PHFA) runs the Keystone Home Loan Program, though it's not a lender itself. Jump to section: How the Keystone Home Loan Program works | Eligibility and qualifications | Types of loans and assistance +o8m*SSg~Vn+=]Y[t-V; bbRj-r(/-=+pU @ETOBA'D''95pB qSBwrl[[XwGn>bI9k@egq}3Gx^ _RMk)e^YPK'sdv$svW(R"jc6!bOIeY*bS0&p9>Mx3[N8!. The Low-Income Housing Tax Credit Program ("Tax Credit Program") is a federal . 0000023873 00000 n 0000062290 00000 n 0000003169 00000 n 0000001020 00000 n %PDF-1.5 % Your counselor will want to discuss whether or not you qualify, so its a good idea to check your credit score before you get started. %PDF-1.5 % 12 0 obj <> endobj xref 12 18 0000000016 00000 n The PHFA Mortgage Credit Certificate (MCC) can reduce your federal tax bill. It offers competitive interest rates, low down payments, and other benefits to eligible borrowers. Yes, PHFA income limits vary by county and household size. HpO002- \L`D0f"XA` : Agency Financed Properties Low Income Housing Tax Credits All Rights Reserved - Privacy Policy | Terms & Conditions | Consent to Contact Customer | TREC Consumer Protection Notice | Information About Brokerage Services, Loan Calculator: Paying Extra On Principal, HFA Preferred Risk Sharing & HFA Preferred Loans, Keystone Advantage Assistance Loan Program, Keystone Home Loan Income and Purchase Price Limits. 197 0 obj <]>>stream N.J. and Pa. homeowners who are struggling because of the . Try Clever Real Estates free agent matching service! trailer<]>> startxref 0 %%EOF 13 0 obj <> endobj 29 0 obj <. 80% of Area Median Income (AMI), so long as the average income/rent limit in the property is 60% . Available nationwide. xc```f``a`a`,gb@ !6 dah8AO&4e u ma@k 0230HJ8^Gub*t8C U@Ibd>10gc`` `R,02A'i&! HUD USER | P.O. Jan. 7, 2022) Pennsylvania Homeowner Assistance Fund (PAHAF) Further reading on this topic. ') hH6z1O^&tdD}Ice&ZLS,V#[1'gbRD U. 4216 0 obj <> endobj 4218 0 obj <>>>/Contents 4219 0 R/Annots 4224 0 R/StructParents 0/Tabs/S/CropBox[ 0 0 612 792]/Rotate 0>> endobj 4219 0 obj <>stream Effective May 2, 2022, PHFA is no longer accepting XML uploads for TIC's in NAHMA version 1.0. Eligibility: Since this is a statewide program, income limits vary depending on the county of the prospective home. It gives you a second mortgage loan that maxes out at $6,000 or 4% of the homes purchase price. Limit commercial space in a development to 25% of gross income and/or gross area of the development. Submit your mortgage application to a participating lender. Contact Us An acceptable credit history (at least a 660 credit score for conventional loans) Enough income to afford mortgage payments Enough cash on hand to pay for a down payment, mortgage fees, and closing costs The house you buy is within purchase price limits PHFA income and purchase price limits Furthermore, some of its programs have income. An NJHMFA approved lender assisted Kyle and Kiri in utilizing the Down Payment Assistance Program to help achieve their dream of home ownership. d2~((7` )xd ppM_kTC4AqGE^ %PDF-1.5 % All adults in your household are first-time home buyers or haven't owned a home in the past three years. 2022 Anytime Estimate. 4215 0 obj <> endobj Youll still have to pay interest and loan fees, though. 72 0 obj <]>>stream If you are ready to get in touch with an NJHMFA approved lender, fill out our request form and we'll pair you with up to three lenders in your area. To support the updated AMI limits the Home Possible Income and Property Eligibility Tool and the Refi Possible Income and Property Eligibility Tool will be updated on June 2, 2022. Q4. Income and Purchase Price Limits By County (3.55 MB Adobe PDF File) 9.V N[MnJ4x|i%-{Ig*$nmfl 63 0 obj <> endobj xGQE'4kD`Y(@KlIA'92+')DC)dC & t @zacf0,akJp"' Match with top local agents, choose the best fit, start touring houses. down payment: Usually 5%, or 3% for some first-time and low-income buyers Min. * ALERT! The Keystone Home Loan Program helps home buyers keep costs down by offering: As an added perk, the PHFA will service your loan for life. The 2022 and 2023 Authority Guidelines, including, without limitation, the CHFA Low-Income Housing Tax Credit (LIHTC) Program Guideline, the CHFA Construction Guideline: Project Planning & Technical Services Review, the CHFA Low-Income Housing Tax Credit (LIHTC) Program Opportunity Characteristics Guideline, the CHFA Pre-Construction Guideline, xc((b(= w= *[ 0000003675 00000 n 0000023401 00000 n endstream endobj 2023 HOME and LIHTC - Income and Rent Limits for NYC; 2023 LIHTC Income - Averaging Project - Income and Rent Limits for NYC; Annual Owner Certifications. This form may be used by PHFA-participating lenders to request a preliminary determination (prior to PHFA loan approval) on a questionable compliance issue (income limit, purchase price limit, first-time buyer when applicable, owner occupancy, and the additional criteria of the Advantage program which includes the liquid asset restriction) or June 2022 PHFA Appendix B Seller's Guide (2 of 2) MAXIMUM QUALIFYING INCOME LIMITS* By Region and County County Income Limit Region 4 Region 5 Region 6 *The qualifying income may not exceed 80% AMI (Area Median Income) per Fannie Mae guidelines. 0000023593 00000 n Box 23268, Washington, DC 20026-3268. June 2022 The Income Limits are effective April 18, 2022.. HUD released the Fiscal Year (FY) 2022 estimated Median Family Incomes (MFIs) and the FY 2022 Income Limits.MFIs are used as the basis for income limits in several HUD programs, including the Public Housing, Section 8 project-based, Section 8 Housing Choice Voucher, Section 202 housing for the elderly, and Section 811 housing for persons with . 4218 Apr 26 2023: PHFA salutes 2022 Lender Award winners. The agency is governed by a 14-member board. Youre buying a home in a target county or neighborhood (as designated by the PHFA). PHFA eligibility requirements To obtain a mortgage through this organization, you must select a private company from its approved lender list. FNMA HFA Preferred Conv. HPD Annual Owner Certification Form Part A (CY 2022) HPD Annual Owner Certification Form Part B (CY 2022) HPD eRent Roll. xXn7}WZ Zdpq'n)k]h*pvEr3gg$|/x3_.gA?fF(c42P2"/_eR}YRI%+LZfZHvQ*7pgUVu~"WjAul}NVvAk]`d&.38o}:~Jw/DiFEiZ|lt[Q PHFAbacked lenders offer conventional, FHA, VA, and RD loans. These government-sponsored enterprises provide more than $7.2 trillion in funding for the U.S. mortgage markets and financial institutions. Each county within your state will have different income limits. %%EOF, Microsoft Word - 4 - Maximum PennHOMES HTF limits.docx, 2022, PHFA, Application, LIHTC, 9%, 9 percent, Tax Credits, Low Income Housing Tax Credits, Multifamily, PennHOMES, HTF, Loan Limits, HTF Loan Limits, PennHOMES Loan Limits, PennHOMES and HTF Loan Limits. What is the difference between HUD's Median Family Income (MFI) and Area Median Income (AMI)? | Benefits | FAQs. Instead, lenders agree to participate in the Keystone Home Loan Program. Household of 3 - Income limit of $127,600. You get 10 years to repay your second mortgage, and you have a 0% interest rate. PHFA programs and operations are funded primarily by the sale of securities and from fees paid by program users, not by public tax dollars. 2022 CMF Income Limits PHFA PHFA, CMF, Capital Magnet Funds, Income Limits, 2022 . 1693 0 obj <>stream It can take up to 60 days to get approved for a PHFA loan program. State Income Limits and Median Family Incomes FY 2022 State 30%, 50% and 80% Income Limits HUD 30% Income Limit for All Areas Effective April 18, 2022 Tables for HUD 30 Percent Income Limits (PDF) Tables for HUD 30 % Income Limits (Excel) 2021 2021 MTSP Income Limits Effective April 1, 2021 FY 2021 MTSP Income Limits Tables (PDF) Learn more. 0000062101 00000 n Newsletter Subscribe ]5L8[?(n.syLK;~ s)\#:_nmUu. 2 0 obj <> endobj 4 0 obj <>stream x=`~_Y-Zg&B(zUGsRP1yifq0"vHJO@PA0!`B w8( %PDF-1.5 % LinkedIn 184 0 obj <>>>/Fields[ 45 0 R 46 0 R 47 0 R 48 0 R 49 0 R 50 0 R 51 0 R 52 0 R 53 0 R 54 0 R 55 0 R 56 0 R 57 0 R 58 0 R 59 0 R 60 0 R 61 0 R 62 0 R 63 0 R 64 0 R 65 0 R]>>>> endobj 186 0 obj <>>>/Contents 187 0 R/Annots 198 0 R/StructParents 0/Tabs/S/CropBox[0 0 612 792]/Rotate 0>> endobj 187 0 obj <>stream xmoSAy `v(s@JDmR(~; U]k{j}vw}=E]woo.oo>?Yy VO4zui=]s9%:YqV/8?gl8N8wI96/gq/_4i{WzF &>c 2022-2024 Enterprise Housing Goals Proposed Rule 8.98 KB ### The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac and the 11 Federal Home Loan Banks. (However, it is recommended that commercial income not constitute more than 10% of the effective gross income. How much: Up to $10,000. Household income within the Keystone Home Loan Program guidelines, An acceptable credit history (at least a 660 credit score for conventional loans), Enough income to afford mortgage payments, Enough cash on hand to pay for a down payment, mortgage fees, and closing costs, The house you buy is within purchase price limits, Rural Development (RD) loans (backed by the USDA), Several loan providers so you can shop for the best savings, Competitive interest rates and limited loan fees compared with normal lenders, Down payment and closing cost assistance through the Keystone Advantage Assistance Loan Program. endstream endobj Owner occupied residences only. This web site requires JavaScript to function properly. 'u"}Tmq%#X!T. JavaScript is turned off in your browser. 64 0 obj <> endobj 66 0 obj <>>>/Contents 67 0 R/StructParents 0/Tabs/S/CropBox[ 0 0 612 792]/Rotate 0>> endobj 67 0 obj <>stream 183 0 obj <> endobj Pennsylvania Housing Finance Agency Income Averaging Policy . However, the Income Averaging Policy provided online under the 2022 Guidelines/Requirements still has that cap. Rents based on Income . 65 0 obj <>stream HUD plans on releasing FY 2023 median family income estimates and income limits on or about May 15, 2023. April 19, 2022. Purchase Price & Income Limits. PENNSYLVANIA HOUSING FINANCE AGENCY (2022 UNDERWRITING APPLICATION) service, The Keystone Home Loan Program helps make home buying more affordable in Pennsylvania. To get a mortgage through the Keystone Home Loan Program, you need to be a first-time home buyer, have veteran status, or buy a house in a targeted area. PENNSYLVANIA HOUSING FINANCE AGENCY (2022 APPLICATION) MAXIMUM INCOME AND RENT LIMITS The following charts which are applicable to all multifamily programs administered by the Agency list the maximum household income and corresponding rent by unit type. xc```f`` _ @f. d00,1fTCtWiV f|c r6>n:1$ xd-f`V4Hn u2bTP VfnNM8I96 z1&,/W5 1701 0 obj <<56de094982e65ac99c2187a859d97dfe>]>>stream %%EOF 185 0 obj <>stream PHFA Income Averaging Policy Keywords: 2022, PHFA, Application, LIHTC, 9%, 9 percent, Tax Credits, Low Income Housing Tax Credits, Multifamily, Guidelines, Underwriting Submision . You can get a 30-year fixed-rate mortgage from a conventional, FHA, or VA lender or a rural development (RD) loan. PHFA Keystone Home Loan Income & Purchase Price Limits Written by Bill MacDonald September 14th, 2022 2 minute read Contained on this page are the sales price and household income limits for the Pennsylvania Housing Finance Agency's Keystone Home Loan Program (PHFA) as of 7/2019 Toll Free: 1-800-245-2691 | TDD: 1 . 3W[Zu W.cPQ A,3:Rv`-$}!$m]~*GB=,9zt0Q~XCt:JWU?c/m'Ac R@B!Qfljaj]EDN@UaGovPGeM)IMac60[ `bX"c)x/I8jRSl(f741'PqM1]7; y{nm;N7mh7l=]p;R;2Mw,he|colm_9fll*ryNY@6X+v Vp,#4c0aZzWHG-&9\Hqe*kX8YquqKiuZ45a=D94 xjq;V802r9<8[\`SA y`)fWpmKP$HU&J"6y Cqf+0M5rW24Tq@dQ"jFV2'`8HNi^ iWN]'p*rGgk+]/CZ+#T#R[72w$xy5eVY/fu?c YMXSA4 pnkq2'WPKsvsl[ozPO V%n.b~._HsX>`$]b;q*h'D&c_Kn/X}H@ The limits for the LIHTC and Bond projects are published separately from the limits for HUD programs. dj(0d'1'5. p'~P]'`& 1x>$8[%FuOP;Z>dL,0FX3_ 1Y;0EiB endstream endobj The mortgages available through the Keystone Home Loan Program have competitive interest rates, limited loan fees, and low (or no) down payments. endstream endobj startxref Pennsylvania Housing Finance Agency Jan 29, 2022, 16:24 ET HARRISBURG, Pa., Jan. 29, 2022 /PRNewswire/ -- Relief is coming for eligible homeowners in the Commonwealth who are struggling with. The limits are effective on April 18, 2022. 2021-2022 Low Income Housing Tax Credit Program (LIHTC) Pre-Application November 23, 2021 Submission deadline extended to *Monday, February 21, 2022, at 4:00 p.m. *Submission deadline may be extended dependent on the 2022 PHFA Qualified Allocation Plan release. endstream endobj Call 855-827-3466 or email [email protected] to find out if you're eligible. Power PDF Create2022, PHFA, Application, LIHTC, 9%, 9 percent, Tax Credits, Low Income Housing Tax Credits, Multifamily, PennHOMES, HTF, Loan Limits, HTF Loan Limits, PennHOMES Loan Limits, PennHOMES and HTF Loan LimitsPower PDF Create2022-04-05T09:51:32-04:002022-04-05T11:04:54-04:002022-04-05T11:04:54-04:00application/pdfMaximum PennHOMES and HTF Loan Limits PHFAMaximum PennHOMES and HTF Loan Limits2022, PHFA, Application, LIHTC, 9%, 9 percent, Tax Credits, Low Income Housing Tax Credits, Multifamily, PennHOMES, HTF, Loan Limits, HTF Loan Limits, PennHOMES Loan Limits, PennHOMES and HTF Loan Limitsuuid:89c70276-0778-7555-4a8f-b464e58d9c98uuid:3f36dd50-2955-b0c1-dd52-9c9ba6ba2dbe For example, FY 2022 Income Limits are calculated using 2015-2019 5-year American Community Survey (ACS) data, and one-year 2019 data where possible. PHFA Appendix F PENNSYLVANIA HOUSING FINANCE AGENCY KEYSTONE FLEX MAXIMUM INCOME AND PURCHASE PRICE LIMITS Effective for reservations on or after 8/1/2022 Income Limit (Qualifying income) All Counties Purchase Price Limit All Counties TIC uploads must be completed using NAHMA version 5.0. . The Keystone Advantage Assistance Loan Program helps cover closing costs and down payments. Make your monthly mortgage payments straight to PHFA. Is the Income Averaging Policy online outdated? @ 2- In 1986, Federal Low Income Housing Tax Credit (LIHTC) program begins. 4217 0 obj <>stream Please enable JavaScript in your browser settings then reload/refresh this page. You are a veteran of the U.S. Armed Forces. Rent and Income Limits PA Housing Finance Agency News & Awards Tech Services Housing Services Asset Management Go Back Login Rent and Income Limits If you have any questions or for past Rent & Income Limits not listed, please contact Housing Management at 717.780.3819. Income limits vary depending on the number of people in your family and whether or not your home is in a target or non-target area. 04/20/2022 PHFA Low Income Housing Tax Credit Program Income Limits, subject to change. 0000124373 00000 n 6'_L8,#ws,_%RcZg|U> U`v|cZgO&r3&Ytv.f'qvg MORE: xc```c``1f da8 05hu= !F`1H310R Y Income Averaging (Section 2.14 of the QAP): In regard to Income Averaging, the 2022 QAP removed the prior PHFA cap of 10% of units above 60% AMI. FY 2022 MFI: $90,600 EXTR LOW INCOME 19050 21800 24500 27750 32470 37190 41910 46630 VERY LOW INCOME 31750 36250 40800 45300 48950 52550 56200 59800 LOW-INCOME 50750 58000 65250 72500 78300 84100 89900 95700 . 0000000848 00000 n @ mQ#)^LvG;R#u!~jt\I>4f|}xXKNj2)! -gWO2OtD #!ItxvX#f7pe`1p\Fah?0^Z- o2o]oM>HXK@,+|j5hzhky48k^Y F6h-^J)\d+B$U@`!*g_;/BHkDOsbhJ2j?vx+jPlby[--t+LPSY=/-ZffPErxA PURCHASE PRICE LIMITS FNMA HFA Preferred Conv. c+KY/ G] dka1 *H1;3%7z7^d0P$c5V6Sg$ 4223 0 obj <<30f867ba22b8992eea8672b916d94fbe>]>>stream x0P)raFgzq"c`[,]_8>~`l Updated Income Limits for 2021 Single Family Housing Loan and Grant Programs. 3. ,8/|*U]]>wNc9'':[8Y@qn*l Lfs2q>M&iV8mC6)c)Py?iczFN\z~MyjN{a}Pd9%$iFL\i}N}!o3DN-[it]cky""`|nk4Fn7{~gam~ofmfB==|J$SGw7R:@gpI|I~T,0[{zdB!vbt\4^l09,$.B"K$~3O"_1dQ5A$;%=6c;dC@ Gh7MN #){xP/nE.dJvGF"%q/ Purchase Price Limits Effective March 30, 2022 / Income Limits Effective May 1, 2022. Read more, 2022 Anytime Estimate. endstream endobj All loans are 30-year fixed-rate mortgages. pennsylvania housing finance agency (2022 underwriting application) maximum pennhomes/htf limits 89 2022 maximum pennhomes & htf loan limits applicable for pennhomes developments receiving federal home funds and/or national housing trust funds 0br 1br 2br 3br 4br the maximum amount for all counties: $159,754 $183,132 $222,694 $288,094 $316,236 Research Fellowship. 0000002834 00000 n Your counselor will make sure youre ready to buy a home and guide you on the process. At a glance: Requirements for a HFA Preferred loan Note: Your income and loan limits are set by your local HFA. That means your loan won't be sold off to some random servicer. endstream endobj 22 0 obj <]>>stream xc(wQM 8 An exception would apply if the proposed owner guarantees the income for the tax credit compliance period via For more information, please see here. x@@oDDD @Tj#48\xf+ "?4aL6L1 Otherwise, you will not be able to visit other pages using the navigation "menu" bar or have access to other content throughout the site. The Keystone Home Loan Program offers several different types of mortgages, each with its own borrower requirements: Fortunately, all Keystone Home Loan Program loans have low minimum down payment requirements. xVnH}Wcq.,\J&mhX~~sn(d97-fxO?_`|lon88'&Bj4p(D!?V*PZC_? t^e'#MwldJZ w;?7d>P4fMWli nEm8`dC6D%X=EfxxH9>nS'{DIO-2iW66;yJoh@\)7 "( C#]rW`gYH"D5q64\WdXDA-r;=4/:OsFXv.$-{Z;m*aO[PSqu[/Iv%.`'}\O w'of!C%JJg)Kjb6z.z (=_iyG~ ^Z-W8b>jGmS4:+FES-#knV)9eTn1 hf1z%Z$JD49<>|14p)3A,&egHpjAoS_88Ehl>jglArB*kZPu W1Q]=j, B_]AfrpU MB_6=b6$x0euXART .rP>TYbX6(nA%*,g1H;+rcTrP>tI9U>wrP5xk1NGY:\$5b`bP#lhojr 3Y/VJ+c{Bl% 1. FIND: YouTube Income limit of $113,400. 7134 endstream endobj 18 0 obj <<7e3f6195d4f14d0153ef2343bac398ab>]>>stream Learn More about PHFA's paid housing policy research opportunity. endstream endobj startxref The program is administered by the Pennsylvania Housing Finance Agency . Loan Product Advisor and the Income Limits application programming interface (API) will be updated on June 5, 2022. (However, it is recommended that commercial income not . xcd```d`6L= ! endstream endobj 19 0 obj [ 8 0 R/Fit 100 100 0] endobj 20 0 obj <> endobj 21 0 obj <]>>stream Contained on this page are the sales price and household income limits for the Pennsylvania Housing Finance Agency's Keystone Home Loan Program (PHFA) as of 7/2019The Pennsylvania counties listed with a (T) are targeted counties for this program. endstream endobj 2. This is a three-year lag, so more current trends in median family income levels are not available. xc```b`` B,`40,h\cBx [M+=lnKZ.5NMp "q 0/;iB6!#,_lpfyhw%S92"Y2~( r4{yyUu9hy pM@v?SYPXwhMi&2T$U2pKDt_ 5q Min. Limit commercial space in a development to 25% of gross income and/or gross area of the development. Home buyers who purchase in these counties are not required to be first-time buyers, however, applicants must meet the income and purchase limits in these counties in addition to the underwriting guidelines. The Agency's processing procedures, fee schedules and limitations, and current rent and income limits are set forth in the Agency's 2022 Multifamily Housing Application Package (the "2022 Application") and 2022 Multifamily Housing Program Guidelines (the "2022 Guidelines"), which are available on the Agency's website at FHA VA USDA FHA VA USDA AREA OF STATE COUNTIES IN AREA 80% and below AMFI Only FNMA HFA PREFERRED Any family Size Over 80% AMFI Only . How to Buy a House With No Money Down, Keystone Advantage Assistance Loan Program. Affordable units in LIHTC developments are assigned a percentage of Area Median Income (AMI) in Philadelphiausually 20%, 30%, 40%, 50% or 60%which represents the maximum income the tenant household can have at lease signing to rent the unit. Not be a student working less than 30 hours per week. The purchase price limits listed are for single-family residences. 0000000785 00000 n Income Limits. How to Check Your Credit Score for Free (Without Hurting It). This is Pennsylvania's statewide first-time home-buyer program. ,p |y(z/qy wK@g/`E-Ra(cpmuX*X:ohp=o@:2q1E#@n(p2rw- z!9 `@&pDxJ6=/?GFO{CV1pn. Some loan programs, like FHA loans, let you buy a house with a credit score as low as 500. The income of the household must be at or below 80 percent of the area median income at the time of FFD program enrollment.