Escambia County HFA – Big Splash SF (Multi-County) Program
Note – for details, see the Administrator’s Guidelines under GUIDE & FORMS
|PROGRAM FUNDS||Continuous Funding|
|ELIGIBLE AREAS||Alachua, Bradford, Escambia, Gadsden, Indian River, Leon, Marion, Martin, Okaloosa, Santa Rosa, St. Lucie, Wakulla and Walton counties.|
|LOAN TIME LINE REQUIREMENTS||Please DO NOT Reserve early.
|ELIGIBLE LOAN TYPES||
|DOWN PAYMENT ASSISTANCE||
|HOME BUYER EDUCATION||
|FICO SCORE REQUIREMENT||
|THE MASTER SERVICER||
|Rate/Offerings||FICO||Lock Rate||DPA||Effective Date|
|FHA||660||4.25%||up to 7,500||1/30|
|USDA-RD or VA||640|
- 1% Origination Fee or Discount Point (any combination not exceeding 1%, paid by buyer or seller)
- Term: 30 Year Amortizing
- manufactured homes not allowed
- manual UW not allowed
- min FICO 660
- up to 7,500
- 30 Year Deferred loan for Down Payment and/or Closing Costs Assistance.
- Must be used for DownPayment and Closing Costs.
- Cash back is NOT allowed. (zero)
The Escambia County HFA office will be closed on the following dates and DPA wire requests will not be processed.
Thanksgiving-Thursday, November 24, 2016 – Friday, November 25, 2016
Christmas – Friday, December 23, 2016 – Monday, December 26, 2016
New Year’s Day – Monday, January 2, 2017
eHousingPlus is the Program Administrator, and provides some of the following services:
| Administrator Guidelines (2/1)
The following is a list of Approved Lenders (both U S Bank & ECHFA) and have attended Program Training:
- Alarion Bank
- American Eagle of Ohio LLC
- American Mortgage Service Company
- Capital City Bank
- Centenial Bank
- DHI Mortgage
- Everett Financial, Inc. , dba Supreme Lending
- Fairway Independent Mortgage
- FBC Mortgage, LLC
- FBT Mortgage LLC
- Fidelity Bank
- First Federal Bank
- Goldwater Bank, N.A. (Fidelity Lending)
- GSF Mortgage Corporation
- Hamilton Group Funding
- Hancock Bank (Whitney)
- HeritageBank of the South
- Hometrust Mortgage Company d/b/a Home Mortgage of America, Inc.
- Movement Mortgage, LLC.
- ON Q Financial
- Premier Nationwide Lending (NTFN, Inc.)
- Primary Residential Mortgage
- Shelter Mortgage
- Synovus Mortgage Corporation
- Trustmark National Bank
- University Lending Group
Interested in becoming a participating lender? Contact us.
- 5/18 – revised income & acquisition limits. effective 6/15 – please see guidelines
- 12/1- MANUFACTURED HOMES are eliminated (eff 12/1 reservations)
12/1- FHA – no manual underwriting (eff 12/1 reservations)
12/1- Min FICO is 660 (eff 12/1 reservations)
- 7/22 – updated income & acquisition/purchase price limits
- 6/29-Documentary Stamp Tax/IntangibleTax – Effective July 1, 2015, for new loan reservations, first and second mortgages and notes are NO LONGER exempt from Documentary Stamp Tax and Intangible Tax
- 6/4- New income & acquisition (purchase) limits effective 7/22
- 3/25- New income limits effective 3/6.
- 2/18-Rate increased to 4.25%
- 1/16 – Rate reduced from 4.25% to 4.00%
- 9/1-DPA is reduced from 10,000 to 7,500 – effective 9/1 on all new reservations
- 9/1-the Escambia Mortgage & Note need to be recorded as 1 document – effective 9/1 on all new reservations
- 6/25-Updated income & acquisition limits, effective 6/25
- 6/17- Updated guidelines – Use of second mortgage proceeds
- 6/9- Updated guidelines – servicer fee
- 2/5 – Rate decreased from 4.50% to 4.25%
- eHP Lender Program Training
- Required for everyone participating in the program
- offered 24/7
- Click here to attend Program training
- eHP System Training*
- After you complete the online Lender Program Training, information is provided as to what happens next.
- Click here to register for system training
Should you have any questions on training, please contact firstname.lastname@example.org
* System Training is required at least once, so that users gain the knowledge necessary to originate and manage their loans on-line. eHP University provides additional opportunities to re-train and/or refresh your system knowledge. Recurring (experienced) system users do not need to attend system training.