Real Estate Agents

Real Estate Agents are a vital part of PHFA's homeownership programs. PHFA's home purchase loans carry lower-than-market, 30-year fixed interest rates. Buyers save on fees, as well, including a 25 percent discount on title insurance for most loans. Additionally, buyers may also qualify for closing cost and/or downpayment assistance. This means buyers have more purchasing power and therefore a larger selection of homes from which to choose. Because a Realtor is often the buyers first contact, it is important for agents to know about PHFA's programs and how to determine if their customers are eligible.

PHFA's home loans are originated, processed, and closed by a network of approved participating lending institutions. The loans and servicing rights are then purchased by the Agency following settlement. PHFA loans are also originated by approved mortgage brokers who obtain sponsorship from a participating lender.

PHFA offers an online training program specifically designed for real estate agents. It also offers programs that are accredited for Continuing Education credits in conjunction with the Pennsylvania Association of REALTORS and the Greater Harrisburg Association of REALTORS.

To date, PHFA has assisted more than 100,000 families and individuals achieve the American dream of homeownership by providing funding totaling more than $5.5 billion. Home loans are financed through the sale of mortgage revenue bonds, not tax allocations. Certain federal laws regulate the kinds of mortgages that can be offered and the borrowers who are eligible to receive them, and set other requirements such as maximum purchase price and income limits.