2011 Single Family MRB Program
|PROGRAM FUNDS||Program final Purchase date is 8/31/2013|
|ELIGIBLE AREAS||Pinellas, Pasco and Polk Counties.|
|ELIGIBLE LOAN TYPES||FHA, VA, USDA-RD|
|AVAILABLE DOWN PAYMENT ASSISTANCE||Second mortgage loan options are available for Pinellas, Polk and Pasco. Pinellas offers two options, depending on the household income. Must be used for down payment and closing cost. Cash Back is not allowed. see Rates|
|INCOME LIMIT CRITERIA||Household income is considered for ALL Borrower(s), spouses and anyone 18 years or older.
Pinellas & Pasco:
|HOME ACQUISITION LIMITS||Pinellas & Pasco: Non-Target: $270,000 Targeted: $330,000
Polk: Non-Target: $250,200 Targeted: $305,800
|HOME BUYER EDUCATION||Required for ALL named on the Warranty Deed. Must be HUD approved.|
|FICO SCOR/DTI REQUIREMENT||Mid score must be 640 or higher. Maximum DTI is 45%|
|CO-SIGNERS||Cosigners are permitted for FHA/VA loans. Cannot be named on the Warranty Deed.|
|LOAN TIME LINE REQUIREMENTS||There are 60 days from the day the loan is reserved, until all exceptions are cleared on the loan and it is purchasead.|
|AGENCY WEB||Pinellas County HFA|
|FORMS||Available online, under FORMS|
Need help, Click here
|LENDER PARTICIPATION||If your Company is interested in participating in this program, please Click here|
|EXTENSIONS||Subject to a Fee. Please see details in Administrator’s Guidelines.|
Home Key First Mortgage Loan
- 2.99% - FHA, VA, USDA-RD (RHS) (eff 5/10)
- No origination or discount
- Term: 30 Year Amortizing
DPA – Based on HH Income.
Deferred until Sold – Pinellas County only
- 0% for DPA/Closing costs up to 8,000
- Low income – hhld size 1-2 – $59,000 & below
- Low income -hhld size 3+ – $63,000 & below
Amortized - All areas
- 30 Year, 4.50% rate amortizing mortgage loan for DPA/closing costs up to 8,000
- income same as First Mortgage, see guidelines
The Following Lenders have been approved to originate loans in this Program:
- DHI Mortgage
- FBC Mortgage
- IberiaBank Mortgage
- Open Mortgage
- Raymond James Bank
- Wells Fargo Home Mortgage
Interested in becoming a participating lender? Contact us.
- 2/25/2013 – New DPA Funding Procedures
- Effective 11-16-12 – LIMITED TIME OFFER of upto 8,000 available for DPA, read more.
- Effective 11-1-12- Maximum Debt to Income Ratio (DTI) is 45% effective for loans reserved on or after November 1, 2012.
- Effective 6-1-12- Minimum credit score of 640 (the mid score must be 640 or above). U S Bank in their Lender Manual clearly defines exact product types allowable.
- Happy 30th Anniversary to Pinellas County HFA
- Program final Purchase date is 2/28/2013
- Effective 6/1, the FICO requirement is 640
- Extensions will be subject to a fee.
eHP Lender Program Training is offered 24/7. Click here to attend
eHP System Training- After you complet the online Lender Program Training, information is provided as to what happens next.
Program Training is required. To register for eHP System training, Click here.
To read more about eHP Program Training, click here.