Pennsylvania Tax Credit Advance Loan Program
By Suzanne Strickler, School is never out for the Successful.
(Realty Mark Associates)
Pennsylvania homebuyers can once again benefit from additional funds being made available by the PA Housing Finance Agency (PHFA). The Tax Credit Advance Loan Program (TCA) allows loans of up to $6,000 for first-time homebuyers and homebuyers who want to upgrade. 2010 Homebuyers will get a zero percent interest loan if they repay the loan by June 2011. TCA Eligibility highlights: • Available to buyers getting a PHFA first mortgage and who close on their loans by June 30, 2010 (and entered into a sales contract by April 30, 2010). • First-time homebuyers are eligible for the lesser of 10% of the purchase price OR $6,000 for newly constructed homes, $5,000 for existing homes • Non first-time homebuyers are eligible for the lesser of 10% of the purchase price OR $4,000 for newly construct...
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