Turn the Key

Turn the Key é uma segunda hipoteca para compradores de imóveis em Philadelphia, Pennsylvania, administrado por 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. Os recursos vêm 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 oferece até $75,000 de ajuda. Contribuição do comprador de imóvel: Buyers should expect to bring roughly $3,000–$5,000 toward down payment, closing costs and other related home-buying expenses. O programa pode ser combinado com Philly First Home $10,000 grant (bundled with Turn the Key for closing costs). Os valores são os máximos publicados pelo programa, não uma oferta — Philadelphia Housing Development Corporation (PHDC) define qualquer ajuda individual.

Turn the Key é perdoado após 20 anos, então o comprador de imóvel que permanecer esse tempo não o devolve. O reembolso é acionado por Sale, transfer, refinance, or loss of owner-occupancy before the 20-year forgivable note is satisfied; the unforgiven portion becomes due. A ajuda é registrada como ônus em posição Second. As condições de perdão e reembolso são definidas pelo programa e podem mudar — confirme-as na página oficial do programa antes de se inscrever.

Turn the Key é aberto a compradores do primeiro imóvel e compradores de imóveis que vão morar no imóvel como residência principal. “Primeiro imóvel” tem exceções aqui: 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. Sobre crédito, o programa afirma: 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. É exigido um curso de educação para compradores de imóveis, por meio 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 limita a renda familiar a 100% da renda mediana da região, que varia conforme o condado e o tamanho da família. 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. O limite vale para a renda total da família, não só a do mutuário. Os valores da renda mediana da região são publicados pelo HUD e atualizados todo ano, então confira a tabela atual do condado antes de se basear em um número.

Turn the Key pode ser usado para Single Family. Construções novas são elegíveis.

Turn the Key atende compradores de imóveis que compram em Philadelphia, Pennsylvania. O programa é voltado para áreas específicas: Homes are built on formerly city-owned vacant parcels across designated Philadelphia neighborhoods; availability is per-development and rotates as phases sell out. Bairros prioritários: 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.

As inscrições para Turn the Key são feitas por meio de Philadelphia Housing Development Corporation (PHDC), que publica as condições atuais e as etapas da inscrição no próprio site. Os recursos são reservados por meio 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. A Hey Prescott não é uma credora e não aceita inscrições; esta página descreve o programa para que um comprador de imóvel possa levá-lo a um credor ou a um conselheiro habitacional.