Homeownership Choice Programs

The Pennsylvania Housing Finance Agency is the Commonwealth of Pennsylvanias leading provider of capital for affordable homes and apartments. As a leader, we are always seeking new methods to serve the housing and community needs of all Pennsylvanians. To this end, the Board has set aside funds to create the PHFA Homeownership Choice Programs (HCP).

The HCP Initiatives provide funding for the development and / or rehabilitation of single family homes, for purchase, in urban communities and the rehabilitation of the upper floors of store fronts on the commercial corridors of urban neighborhoods and core communities to provide either rental or ownership housing opportunities. HCP development is required to be a part of a municipalitys comprehensive approach to increase the net investment in housing in urban areas while building mixed-income communities and encouraging diversity of homeownership.

An important component of the Pennsylvania Housing Finance Agencys mission is to make the Commonwealth a better place to live while fostering community and economic development. To achieve this mission, PHFA recognizes that the presence of long-term investors builds optimism and hope in a community and signals that urban neighborhoods hold promise for becoming healthier, more attractive places in which to live and raise families, shop, and work.

In its first seven years, PHFA Homeownership Choice Programs investments of approximately $75 million have leveraged over $462 million in additional housing, infrastructure, and economic development investment in 65 Pennsylvania communities.

The Homeownership Choice Programs consist of three Initiatives:

• The Homeownership Construction Initiative
• The Mixed Use Facility Financing Initiative
• The Neighborhood Revitalization Initiative

Homeownership Choice Programs funding commitments:

• Highlights of Initiative Benefits
• HCPFundingRecap
• Proposals Awarded Preliminary Reservation of Funding (10/11/2007)

NOTE: Press Releases related to HCP can be viewed on the Press Releases page. Request For Proposals related to HCP can be viewed on the Request for Proposals page.

For more information regarding the Homeownership Choice Programs or other Agency housing programs, call toll free 1.800.635.4747.