The capital infusion supports a suite of lending initiatives, including the Keystone Home Loan program and specialized financial tools such as K-FLEX and K-FIT. By purchasing qualifying loans from lenders, the agency channels this bond revenue directly into affordable mortgage products for first-time buyers. Since early 2023, the agency has deployed roughly $5.6 billion in similar proceeds, facilitating over 21,810 loans.
In section Releases
Pennsylvania Housing Agency Secures $478 Million for Mortgage Lending
The Pennsylvania Housing Finance Agency has finalized a $478 million bond sale, marking the second-largest single-family mortgage revenue transaction in the organization’s history. These funds are earmarked to lower entry barriers for low- to moderate-income residents by subsidizing mortgages and essential down payment assistance programs across the state.
Robin Wiessmann, executive director and CEO of PHFA, emphasized that bond financing remains the backbone of the agency's ability to offer competitive rates. Crucially, the program operates on a self-sustaining model: the debt is serviced through monthly mortgage payments and investment earnings rather than public tax dollars. Beyond single-family homes, the agency also recently tapped the market for $109.6 million to expand affordable rental housing development.
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