Miami-Dade HFA – Single Family & MCC Programs
Note – for details, see the Administrator’s Guidelines under GUIDE & FORMS
|PROGRAMS & FUNDS||
|LOAN TIME LINE REQUIREMENTS||Please DO NOT Reserve early. Should be qualified prior to reservation.
|ELIGIBLE LOAN TYPES||
|INCOME LIMIT CRITERIA||
|HOME ACQUISITION LIMITS||
|HOME BUYER EDUCATION||
|FICO / DTI REQUIREMENT||
|FORMS AND DOCUMENTATION||
|THE MASTER SERVICER|
|Rate/Offerings||DPA / Second||Lock Rate||Min FICO||Effective Date|
|Government (FHA,VA, USDA)||up to 15,000||4.250%||660||3/16|
|Fannie Mae HFA Preferred||up to 15,000||4.625%||640||3/16|
|Freddie Mac HFA Advantage||up to 15,000||4.625%||640||3/16|
- 1.00% origination or discount or combination of both but in total not to exceed 1.00%
- Term: 30 Year Amortizing
- manufactured homes not allowed
- manual UW not allowed on GOV
- DPA Up to $15,000 DPA/Closing costs
- 0%, 30 Year Deferred
- Cash back is not permitted (see guidelines). Please reduce the DPA amount
eHousingPlus is the Program Administrator, and provides some of the following services:
| Administrator Guidelines (5/12)
The Following Lenders have been approved to originate loans in this Program:
- American Financial Network
- CenterState Bank of Florida, N.A.
- Cornerstone Home Lending, Inc.
- DHI Mortgage
- First Equity Mortgage Bankers, Inc. ( FEMBI)
- GSF Mortgage Corporation
- Home Financing Center
- Hamilton Group
- HG Mortgage (only MCC Program)
- LoanDepot.com, LLC
- Nations Lending Corporation
- Open Mortgage
- Pacific Union Financial
- Paramount Residential Mortgage
- Shelter Mortgage
- Sierra Pacific Mortgage Company, Inc.
Interested in becoming a participating lender? Contact us.
- 2/21/2017- DPA is increased to 15,000. Timeline revised. Extension fee is 500
- 5/11 – revised income & acquisition limits. effective 6/14 – 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 on Gov (eff 12/1 reservations)
- 10/1- Freddie Mac
- 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.