Orange First with HHF DPA

Orange County HFA – Orange First with HHF DPA    

PROGRAM FUNDS
  • First Mortgage funds are issued by the Orange County HFA
ELIGIBLE AREAS
  • Orange and Osceola Counties
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
LOAN TIME LINE REQUIREMENTS
  • Reservation to Underwriter Certification – 15 days
  • Reservation to Exceptions Cleared & First Mortgage Loan Purchased – 60 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
  • Homebuyers and everyone on the Warranty Deed must take homebuyer education from a HUD approved provider. This includes the Neighborworks online course provided by eHomeAmerica.
  • Homebuyer Education Providers.
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