HFA of Lee County – Lee MCC Program

HFA of Lee County – Own a Home MCC Program 
Note – for details, see the Administrator’s Guidelines under GUIDE & FORMS

ISSUING AGENCY Housing Finance Authority of Lee County
PROGRAM FUNDS
  •  20 million in MCC allocation
ELIGIBLE AREAS
  •  Lee, Charlotte, Collier, DeSoto, Sarasota and St. Johns Counties
ELIGIBILITY CRITERIA
  • First-Time buyer requirement
  • Buyers & Spouses must be able to permanently reside in the U.S.
  • Principal residence
  • Borrower(s) must occupy property within 60 days of closing
  • IRS filed returns for past 3 yrs – all borrower(s) & spouses
LOAN TIMELINE REQUIREMENTS Please DO NOT Reserve early. Your Underwriter MUST UW Certify the loan 15 days after Reservation, or lock will be cancelled.
ELIGIBLE LOAN TYPES
  • FHA, VA, USDA-RD
  • Freddie Mac HFA Advantage
INCOME LIMIT CRITERIA  

  • Household income is considered for ALL Borrower(s) , spouses and anyone 18 years or older residing in the home.
  • see guidelines 
HOME ACQUISITION LIMITS
  • Home Acquisition Limits are defined by county, Non-Target or Targeted Areas
  • see guidelines 
HOME BUYER EDUCATION
  •  All borrowers must attend homebuyer education from an educational provider approved by the Issuer.
FICO SCORE REQUIREMENT
  •  None
CO-SIGNERS
  • Follow Agency (FHA, VA, Freddie Mac) guidelines.
  • Co-Signers cannot be named on the Warranty Deed.
LENDER PARTICIPATION
  •  For information on how your company can participate in this program, Click here
FORMS
  • Program Forms are available on-line and automated. After you login to Lender Portal, click on FORMS
EXTENSIONS
  •  To request a one-time 30-day extension, click here.
  • Extensions are not granted to extend the 15 days from Reservation to UW Certification

 

 

eHousingPlus is the Program Administrator, and provides some of the following services:
Administrator Guidelines   7-21

  • Provides the web-based program loan reservation and management system, Administrator’s Guidelines, Program forms, Lender Program and System Training, Notices and updates to Lenders, Compliance Support to Lenders, Reviews Compliance Files, Timelines, Works with the Agency and Master Servicer on Program Goals.
  • Need help, Click here 
Program Updates
  • 1/12 Program Starts
  • 1/10 Training