FHFC HHF for Locals Second Mortgage Program

Florida Housing Finance Corporation – HHF DPA for Locals Second Mortgage Program   ENDED 4/30/2018  

HHF funds have been exhausted.  You made the program a great success!   

Please ensure your loan does NOT fallout.  You must have the UW Certification done as per your program’s timeline, within 15 days from date reserved, 20 days for loans in Pinellas.  There is no extension.

PROGRAM FUNDS
  • 8 million thru 4/30/2018
ELIGIBLE AREAS
  • Hardest Hit Fund (HHF) Counties
    • Brevard, Duval (only Jacksonville), Hillsborough, Orange, Osceola, Pasco, Pinellas, Polk Counties.
ELIGIBILITY CRITERIA
  • First Time Homebuyer, applies to all borrower(s) and Spouses.
TIME LINE REQUIREMENTS
  • follow the HHF for Locals Program
ELIGIBLE LOAN TYPES
  • FHA, VA , USDA-RD
HHF  DOWN PAYMENT ASSISTANCE 
  • HHF – Hardest Hit Funds
  • up to $15,000
  • 0%, 5 year, deferred loan, forgiven at the rate of 20% per year
  • Lender upfronts. US Bank will reimburse at purchase
  • Cash back is not allowed
INCOME LIMITS
  • Limits are defined by Household Size, County and FL Housing Product used.
    • see the guidelines tab
ACQUISITION LIMITS
  • Limits are defined by County and FL Housing Product used.
    • see the guidelines tab
HOME BUYER EDUCATION
  • follow the HHF for Locals Program
CREDIT REQUIREMENTS
  • follow the HHF for Locals Program
CO-SIGNERS
  • Not permitted
FORMS
  • Forms are online in SF Web Management, under FORMS
THE MASTER SERVICER
  • Provides information and training concerning the mortgage loan file, acceptable loan products, delivery and funding, reviews/purchases the mortgage file.  Servicer Lender Guides, Click here   If you need assistance with the Servicer Lender Guides or  to contact the US Bank, Click here.