What does PHFA mean on my credit report?
Learn about PHFA, an creditor offering loans for financial assistance. Check the impact to your credit report and financial status.
What is PHFA?
PHFA is shorthand for PA Housing Finance Agency, with the company name being PA Housing Finance Agency Inc
PHFA is a Creditor provider. They could be on your report for a number of reasons, for example:
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⚫ You missed a repayment.
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⚫ You opened an account with PA Housing Finance Agency.
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⚫ You opened a credit card / loan / mortgage with this company.
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⚫ Someone fraudulently opened a credit line under your name.
About the account
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⚫ The average account balance is $25200.
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⚫ The average high credit balance is $59300.
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⚫ The typical loan duration is 276 months.
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⚫ The average monthly repayment is $300.
The account is classified under the following METRO2 categories:
- ⚫ Real estate
How do I contact them?
Here is the current contact details for PA Housing Finance Agency:
Address:
- PO Box 8029 Harrisburg, Pennsylvania 17105-8029
Website:
Email:
Phone:
Payments
PHFA does not offer a monthly payment plan, refunds, or discounts for automatic payments. Customers can make payments over the phone, online, or using a mobile app. There are no penalties for late or missed payments. Wire transfers and prepaid debit cards are not accepted.
| Question | Answer |
|---|---|
| Do they offer a monthly payment plan? | No |
| Can I make payments over the phone? | Yes |
| Can I make payments online? | Yes |
| Do they offer a discount for automatic payments? | No |
| Can I make a payment using a mobile app? | Yes |
| Can I make a payment using a prepaid debit card? | No |
| Can I make a payment using a wire transfer? | No |
Forgiveness and Cancellation
PHFA does not offer loan forgiveness or consolidation services. to qualify for loan forgiveness, there are multiple loan programs available through the Pennsylvania Housing Finance Agency, such as the Keystone Advantage Assistance Loan Program, Keystone Forgivable in Ten Years Loan Program (K-FIT), Programs for Persons with Disabilities, HOMEstead Downpayment and Closing Cost Assistance Loan, and Employer Assisted Housing (EAH) Initiative. To learn more information about these programs, contact the Pennsylvania Housing Finance Agency for assistance.
| Question | Answer |
|---|---|
| Do they offer loan forgiveness? | No |
| Do they offer loan consolidation? | No |
How to Apply
The Pennsylvania Housing Finance Agency offers loan applications online. It is not possible to apply for a loan over the phone, in person, or through a mobile app. It is possible to apply for a loan with a cosigner.
| Question | Answer |
|---|---|
| Can I apply for a loan online? | Yes |
| Can I apply for a loan over a phone call? | No |
| Can I apply for a loan in person? | No |
| Can I apply for a loan using a mobile app? | No |
| Can I apply for a loan with a cosigner? | Yes |
IdentityIQ Report Example
- This is an example of what this creditor will look like on your IdentityIQ report.
Will this affect my credit score?
Whether this account affects your credit score depends on a variety of factors, such as:
- Account Open Date: If you opened this account recently it will impact your credit, the only way to prevent this from impacting your credit score is to remove the account from your report.
- Derogatory Markings: If this account has any derogatory markings such as:
Lates, Charge Offs, Collections and others.
However, there are could be some potential positive aspects to this account which could lead to improving your credit score, such as:
- Account Age: If your account is quite old, then the age of it will positively impact your credit score
- Repayment History: If the account has no
Late Payments, Charge off Payments, then it may reflect a positive impact onto your credit score.
Can it be removed from my credit report?
Yes, with the right strategy, you will be able to remove any account from your report. But you have to be careful to ensure that the account is negative to begin with, or it will negatively impact your credit score.
However, removing a negative account will positively impact your credit score, allowing you to open new credit lines and potentially removing bad debt.
How do I remove PHFA from my credit report?
You can send a dispute letter to the credit bureaus to remove this account from your report. You must send a dispute letter to all three credit bureaus, as they are legally required to remove the account from your report if it is found to be inaccurate. For best results you should send a dispute letter to the credit bureaus via certified mail, this will ensure that you have a legal record of the communication.