Pittsburgh Homes Daily

Pennyslvania homeowners have a new option for financing their home renovation: the Keystone Renovate and Repair program run by the Pennsylvania Housing Finance Agency.  The program provides below market, fixed interest rates for homeowners renovating their property that meet certain income and residency conditions.  It also provides guidance on planning the renovation and selecting the contractor.

There’s other good news as well: the program requires no new tax revenues from the state.  The program will be financed entirely through revenues generated by the PHFA, according to the press release.

The first loan closings are expected in November.