FHFC HHF for Locals Second Mortgage Program

Florida Housing Finance Corporation – HHF DPA for Locals Second Mortgage Program  

PROGRAM FUNDS
  • 8 million thru Dec/2017
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.
ADMINISTRATOR GUIDELINES
Reservation  2 – the DPA second mortgage loan Reservation 1 – the first mortgage loan
(FHFC) – HHF DPA for Locals Second Mortgage Program