- Board Meeting Notice: The next board meeting will be held Thursday, May 14, 2026 at 10:30 am. Information regarding the meeting can be found under Public Meeting Notice.
Keystone Flex with K-DATE
The Keystone Flex with Keystone Due At Time of Expiration Loan Program (K-DATE) provides first mortgage financing Conventional or the Federal Housing Administration (FHA) or guaranteed by Rural Development (RD) or Department of Veterans Affairs (VA). The first mortgage is paired with K-DATE which is available to qualified homebuyers to provide financial assistance towards downpayment and closing costs associated with the purchase of a home.
Eligible borrowers with loan amounts less than or equal to $150,000 may receive:
- 8% of the lesser of the purchase price or appraised value with no maximum dollar limit in downpayment and closing cost assistance. Note: This assistance amount is subject to availability.
Eligible borrowers with loan amounts greater than or equal to $150,001 may receive:
- 5% of the lesser of the purchase price or appraised value with no maximum dollar limit in downpayment and closing cost assistance.
K-DATE assistance is provided in the form of a second mortgage with a zero percent (0%) interest rate over a 30-year term, with no monthly payments required. Repayment of the K-DATE loan is deferred and becomes due at the time of expiration. The time of expiration occurs upon the sale of the home, refinance of the mortgage or the payoff of the first mortgage.
Eligibility Requirements
You may be eligible for a Keystone Flex with K-DATE Loan if you meet the following conditions:
- You meet the qualifying income requirement that cannot exceed the Keystone Flex Loan Program Income Limit.
- The purchase price of the home you intend to purchase cannot exceed the Keystone Flex Loan Program Purchase Price Limit.
- All borrowers must have a minimum FICO score of 660.
- You are not required to be a first-time homebuyer.
- You have sufficient funds for a downpayment on your prospective home. Borrowers must contribute the lesser of $1K or 1% of the loan amount for (Conventional and FHA only).
- All borrowers must complete homebuyer education from an approved PHFA Counseling Agency.
- You meet the eligibility requirements for the K-DATE assistance loan.
Keystone Flex-Purchase & Improvement with K-DATE
PHFA's Keystone Flex Purchase & Improvement with K-DATE loan allows buyers to purchase, improve/repair a home and down payment and closing cost assistance in one transaction. This loan provides buyers with a conventional PHFA first mortgage with funds up to $30,000 to make eligible repairs and improvements to the home. Home repairs can be made to single family homes, duplexes, manufactured housing and PUDs.
Eligible repairs and improvements must meet the Purchase & Improvement Program guidelines.
The first mortgage is paired with K-DATE, which is available to qualified homebuyers to provide financial assistance towards downpayment and closing costs associated with the purchase of a home.
Eligible borrowers with loan amounts less than or equal to $150,000 may receive:
- 8% of the lesser of the purchase price or appraised value with no maximum dollar limit in downpayment and closing cost assistance. Note: This assistance amount is subject to availability.
Eligible borrowers with loan amounts greater than or equal to $150,001 may receive:
- 5% of the lesser of the purchase price or appraised value with no maximum dollar limit in downpayment and closing cost assistance.
K-DATE assistance is provided in the form of a second mortgage with a zero percent (0%) interest rate over a 30-year term, with no monthly payments required. Repayment of the K-DATE loan is deferred and becomes due at the time of expiration. The time of expiration occurs upon the sale of the home, refinance of the mortgage or the payoff of the first mortgage.
Eligibility Requirements
You may be eligible for a Keystone Flex Purchase & Improvement with K-DATE Loan if you meet the following conditions:
- You meet the qualifying income requirement that cannot exceed the Keystone Flex Loan Program Income Limit.
- The purchase price of the home you intend to purchase cannot exceed the Keystone Flex Loan Program Purchase Price Limit.
- All borrowers must have a minimum FICO score of 660.
- You are not required to be a first-time homebuyer.
- You have sufficient funds for a downpayment on your prospective home. Borrowers must contribute the lesser of $1K or 1% of the loan amount for Conventional loan.
- All borrowers must complete homebuyer education from an approved PHFA Counseling Agency.
- You meet the eligibility requirements for the K-DATE assistance loan.
- You are completing eligible repairs and/or improvements up to $30,000 to the subject property, meeting the program requirements of the Purchase & Improvement Program.