PHFA tax-credit loan program out of funds

The Pennsylvania Housing Finance Agency’s (PHFA) popular Tax Credit Advance Loan Program has run out of money.

According to Kate Newton, director of Homeownership Programs for PHFA, homebuyers took advantage of the program which provided an interest-free loan of up to $6,000 to use toward down payment and/or closing costs.

PHFA funded the tax credit monetization with $5 million of its own funding and cautioned homebuyers loan availability was limited.

Other homebuying assistance programs are still available through PHFA.

Related posts:

1. PHFA allocating remaining tax credit funds
2. Podcast: TCA loan is a win-win for homebuyers

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Tags: credit, loan, phfa, tax

This entry was posted on Wednesday, September 30th, 2009 at 5:02 pm and is filed under Industry News. You can follow any responses to this entry through the RSS 2.0 feed.