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Prepare your property research in Pennsylvania
A Pennsylvania mortgage comparison should connect the loan terms to the home, ownership costs and your plans. For a purchase, include cash needed to close and likely repairs. For a refinance, compare the new balance and repayment period with all existing financing. The city guides below identify local documents and processes that can affect those assumptions. Pennsylvania Housing Finance Agency offers purchase assistance and separate refinance resources. These programs have specific eligibility and participating-lender requirements. Confirm participation directly; this guide does not establish that TMP offers a particular PHFA program.
Treat K-FIT as a second mortgage with conditions
PHFA describes Keystone Forgivable in Ten Years as a second mortgage for down-payment and closing-cost assistance, with annual forgiveness over ten years. Review the current pairing and eligibility requirements rather than treating the assistance as unrestricted cash. Keep the note so a future sale or refinance review can establish the remaining obligation.
Use the refinance program’s own rules
PHFA’s refinance page distinguishes conventional options from FHA and VA refinance routes. Its FHA Streamline and VA IRRRL descriptions say subordinate loans must be paid off or re-subordinated and cannot be paid off with those new loans. Ask the participating lender which product applies and how every existing lien will be handled.
Use the research in your loan comparison
Bring the address, unresolved property questions, inspection findings and recurring costs into the discussion. For a purchase, add the price, cash available and contract dates. For a refinance, include current loan statements and any additional financing or assistance. Ask for a comparison that shows costs, new balance and repayment period as well as the monthly payment.
Pennsylvania research and mortgage questions
Can I assume purchase assistance carries over automatically into a PHFA refinance?
No. Bring every mortgage and assistance note to the review. Ask the agency and lender for the required payoff or subordination and a complete cost comparison; a purchase-program description does not establish refinance treatment.
What if records disagree with the home I toured?
Keep copies and note the specific discrepancy. Ask the responsible office, your agent or closing professional to clarify it, and tell your advisor if it affects the property description, condition or intended use. Do not assume a missing entry or informal explanation resolves it.