Turn the Key

Turn the Key est un second prêt hypothécaire pour les futurs propriétaires de Philadelphia, Pennsylvania, sous la gestion de Philadelphia Housing Development Corporation (PHDC). Turn the Key is a PHDC program under Mayor Parker's H.O.M.E. Initiative that builds new homes on formerly city-owned vacant land and sells them to income-eligible first-time homebuyers at below-market prices. Eligible buyers can receive up to $75,000 in mortgage buydown assistance — secured by a 20-year forgivable note recorded against the property — plus up to $10,000 from the Philly First Home grant for down payment and settlement costs. Buyers must earn no more than 100% of AMI, finance through an approved Turn the Key lender, and complete City-funded one-on-one homeownership counseling before signing an Agreement of Sale. Resale is restricted to other income-qualified buyers; the Philadelphia Land Bank recalculates the price on a sale within 15 years. After year 20, once the soft mortgage is satisfied, the home may be sold at full value. Up to $75,000 mortgage buydown assistance. Up to $10,000 Philly First Home grant toward down payment and settlement costs. Below-market price on a newly constructed home. Buydown is a 20-year forgivable note — fully forgiven if you stay. Le financement provient de City of Philadelphia — vacant city-owned land conveyed via the Philadelphia Land Bank, with PHDC-administered mortgage buydown subsidy; part of Mayor Cherelle L. Parker's Housing Opportunities Made Easy (H.O.M.E.) Initiative.

Turn the Key offre jusqu’à $75,000 d’aide. Apport du futur propriétaire : Buyers should expect to bring roughly $3,000–$5,000 toward down payment, closing costs and other related home-buying expenses. Le programme peut être combiné avec Philly First Home $10,000 grant (bundled with Turn the Key for closing costs). Les montants sont les plafonds publiés par le programme, et non une offre — Philadelphia Housing Development Corporation (PHDC) décide de chaque aide individuelle.

Turn the Key est annulé après 20 ans : un futur propriétaire qui reste aussi longtemps n’a rien à rembourser. Le remboursement est déclenché par Sale, transfer, refinance, or loss of owner-occupancy before the 20-year forgivable note is satisfied; the unforgiven portion becomes due. L’aide est inscrite au rang suivant : Second. Les conditions d’annulation et de remboursement sont fixées par le programme et peuvent changer — vérifiez-les sur la page officielle du programme avant de déposer une demande.

Turn the Key est ouvert à les primo-accédants et les futurs propriétaires qui occuperont le logement comme résidence principale. « Primo-accédant » comporte ici des exceptions : First-time buyer defined as a person who has never owned a home or who has not owned a home for three years prior to applying. Au sujet du crédit, le programme précise : PHDC cites a credit score of around 640, and notes loan products may be available with a somewhat lower score. The first-mortgage lender sets the actual minimum. Un cours pour futurs propriétaires est obligatoire, auprès de PHDC-approved one-on-one homeownership counseling agencies (required before signing an Agreement of Sale). Must purchase an eligible newly constructed Turn the Key home, be a first-time buyer (never owned, or no ownership in the three years before applying) at or below 100% AMI, and complete City-funded one-on-one homeownership counseling BEFORE signing the Agreement of Sale. Counseling completed within the prior 12 months at a City-funded agency may be credited, but the buyer must still review the TTK-specific segment covering the soft mortgage / mortgage buydown / non-serviceable loan. Financing must go through an approved Turn the Key lender. Apply by submitting the online interest form and creating an account at https://phdc.my.site.com/TTKResidentPrograms — applying does NOT guarantee a home and does NOT place the buyer on a waiting list; PHDC screens for prequalification and contacts buyers when inventory opens in a neighborhood they selected. Documentation requested: income and ID for every household member 18+, two months of paystubs, two years of tax returns, photo ID; income certification, counseling certificate and mortgage approval are all required before a developer sales team engages. Homes carry a 10-year residential tax abatement; owners are not eligible for the Homestead exemption until that abatement expires. TTK program line: 215-448-2160 (PHDC main: 215-448-3000).

Turn the Key plafonne le revenu du ménage à 100 % du revenu médian de la zone, qui varie selon le comté et la taille du ménage. Household income may be no higher than 100% of Area Median Income for the household size, using gross income for all family members who will live in the home. Maximum annual household income: 1 — $85,900; 2 — $98,200; 3 — $110,500; 4 — $122,700; 5 — $132,600; 6 — $142,400; 7 — $152,200; 8 — $162,000; add $9,800 for each additional person (no maximum household size). The $122,700 stored in income_limit_amount is the 4-person figure. Note: the PHDC FAQ page still shows an older 1-person figure of $73,780 from a prior AMI year — the table above (100% AMI, same schedule used for Philly First Home) is current. Le plafond s’applique au revenu total du ménage, pas seulement à celui de l’emprunteur. Les chiffres du revenu médian de la zone sont publiés par HUD et mis à jour chaque année : consultez le tableau en vigueur pour le comté avant de vous fier à un chiffre.

Turn the Key peut servir pour Single Family. Les constructions neuves sont admissibles.

Turn the Key s’adresse aux futurs propriétaires qui achètent à Philadelphia, Pennsylvania. Le programme cible des zones précises : Homes are built on formerly city-owned vacant parcels across designated Philadelphia neighborhoods; availability is per-development and rotates as phases sell out. Quartiers ciblés : Currently listed: Carroll Park; Carroll Park — Pastor Allen Phase III; East Kensington/Port Richmond (Martha Street); East Kensington/Port Richmond (CD1); East Parkside; Germantown Phase 1; Germantown Phase 2; Hartranft (9th & Diamond); Ludlow (Darien & Oxford); Nicetown-Tioga; Point Breeze — Civetta; Sharswood; Strawberry Mansion — 31st Street; West Poplar; West Kensington; Whitman. Sold out: Brewerytown (Civetta), East Kensington (William Street), East Kensington/Port Richmond, Grays Ferry (Dover/Myrtlewood, Sears Street, and general), North Central, Point Breeze, Sharswood/Blumberg, Strawberry Mansion, Wharton/South Philadelphia. Availability changes — check phdcphila.org/turnthekey for the current list.

Les demandes pour Turn the Key passent par Philadelphia Housing Development Corporation (PHDC), qui publie les conditions en vigueur et les étapes de la demande sur son propre site. Les fonds sont réservés par l’intermédiaire de Online interest form and account at https://phdc.my.site.com/TTKResidentPrograms; PHDC prequalification screening, then referral to the developer sales team as inventory becomes available. Not a waiting list. Hey Prescott n’est pas un prêteur et n’accepte pas de demandes ; cette page décrit le programme pour qu’un futur propriétaire puisse en parler à un prêteur ou à un conseiller en logement.