HFA Preferred Risk Sharing (No MI) This Pennsylvania down payment program offers a conventional mortgage with a 30 year fixed rate term, structured so you won’t have to pay mortgage insurance (MI) even if your Pennsylvania down payment is less than 20 percent of your home’s purchase price. Instead, your loan might have a slightly higher interest rate. To be eligible, you must have an acceptable credit history and ability to make mortgage payments. You also must be in a low income household, based on where you live in the state and how many people live with you. You’ll have to pay an application fee and closing costs and contribute at least $1,000 of your own money toward your Pennsylvania down payment. The remaining funds can be a gift or from a Pennsylvania down payment assistance program.