Turn the Key

Turn the Key是面向Philadelphia，Pennsylvania购房者的第二抵押贷款，由Philadelphia Housing Development Corporation (PHDC)管理。 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. 资金来自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提供最高$75,000的援助。 购房者自付部分：Buyers should expect to bring roughly $3,000–$5,000 toward down payment, closing costs and other related home-buying expenses. 该项目可与Philly First Home $10,000 grant (bundled with Turn the Key for closing costs)结合使用。 金额是该项目公布的上限，并非报价——具体每人的援助金额由Philadelphia Housing Development Corporation (PHDC)决定。

Turn the Key在20年后免除，因此住满这段时间的购房者无需偿还。 触发还款的情形：Sale, transfer, refinance, or loss of owner-occupancy before the 20-year forgivable note is satisfied; the unforgiven portion becomes due. 该援助以Second顺位留置权登记。 免除和还款条款由项目设定，并可能变化——申请前请在项目官方网页上确认。

Turn the Key面向首次购房者和将房屋作为主要住所自住的购房者。 此处的“首次”有例外情况：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. 关于信用，该项目说明：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. 须参加购房者教育课程，由PHDC-approved one-on-one homeownership counseling agencies (required before signing an Agreement of Sale)提供。 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将家庭收入限制在地区收入中位数的100%，该数值因县和家庭人数而异。 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. 该限制适用于家庭总收入，而不仅是借款人的收入。 地区收入中位数由HUD公布并每年更新，因此在依据某个数字之前，请查看该县的最新表格。

Turn the Key可用于Single Family。 新建房屋符合条件。

Turn the Key服务于在Philadelphia，Pennsylvania购房的购房者。 该项目针对特定区域：Homes are built on formerly city-owned vacant parcels across designated Philadelphia neighborhoods; availability is per-development and rotates as phases sell out. 目标社区：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.

Turn the Key的申请通过Philadelphia Housing Development Corporation (PHDC)办理，该机构在其网站上公布现行条款和申请步骤。 资金通过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.预留。 Hey Prescott不是贷款机构，也不受理申请；本页介绍该项目，方便购房者向贷款机构或住房咨询师咨询。