Hillsborough First with HHF DPA

HFA of Hillsborough – Hillsborough First with HHF DPA     hillsborough 

PROGRAM FUNDS
  • First Mortgage funds are issued by the HFA of Hillsborough
ELIGIBLE AREAS
  • Hillsborough, Brevard Counties and the City of Jacksonville
ELIGIBILITY CRITERIA
  • First-time Homebuyers – All Borrower(s) & Spouses (occupant or non-occupant)
  • 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 years – all borrower(s) & spouses
  • Hillsborough requires an MCC with their first mortgage products
LOAN TIME LINE REQUIREMENTS
  • Reservation to Underwriter Certification – 15 days (can’t extend)
  • Reservation to Exceptions Cleared & First Mortgage Loan Purchased – 65 days
EXTENSION
  • see the guidelines tab
  • Click here to request the extension
ELIGIBLE LOAN TYPES
  • FHA, VA, USDA-RD
AVAILABLE DOWN PAYMENT ASSISTANCE
  • Hardest Hit Funds (HHF) DPA
INCOME LIMITS & CRITERIA
  • see the guidelines tab
HOME ACQUISITION LIMITS
  • see the guidelines tab
HOME BUYER EDUCATION
  • Required for Borrowers
FICO SCORE REQUIREMENT
  • Mid score must be 640 or higher
  • maximum 45% DTI Ratio
CO-SIGNERS
  • Not permitted
FORMS
  • Available online within the loan or 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.

eHousingPlus is the Program Administrator, and provides some of the following services:

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
Reservation 1 – the first mortgage loan Reservation  2 – the DPA second mortgage loan