Housing Finance Authority of Hillsborough

 

HILLSBOROUGH HFA

 

Lender Portal

2011 Single Family Program

PROGRAM FUNDS  Issued in Commitment Lots – 3 Million
ELIGIBLE AREAS  Hillsborough County
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 yrs – all borrower(s) & spouses
ELIGIBLE LOAN TYPES FHA, VA, USDA-RD
AVAILABLE DOWN PAYMENT ASSISTANCE 30 Year Deferred, 0.00% second, up to $5,000. Must be used for down payment and closing cost. Cash back is not allowed.
INCOME LIMIT CRITERIA Household income is considered for ALL Borrower(s) , spouses and anyone 18 years or older
   1-2 person HHLD max = $71,280    3+ person HHLD max = $83,160
HOME ACQUISITION LIMITS    Non-Target =  $266,582.70  and  Targeted =  $325,823.30   
HOME BUYER EDUCATION Required for ALL named on the Warranty Deed. View Homebuyer Education Provider.
FICO SCORE REQUIREMENT Mid score must be 620 or higher
CO-SIGNERS Cosigners are permitted for FHA loans as per FHA Guidelines. Cannot be named on the Warranty Deed.
LOAN TIME LINE REQUIREMENTS - Reservation to UW Cert: 2 days
- Reservation to Close, Delivery, Cleared of all exceptions and Purchased: 65 days
LENDER PARTICIPATION View participating lenders here.
FORMS AND DOCUMENTATION View Forms and Documentation.
OTHER For additional information, please See Program Guidelines.

Current Rates

  • 4.50%
  • 0% Second Mortgage
  • Term: 30 Year Amortizing

DPA

  • Up to $5,000- DPA/Closing costs, 0%, 30 Year Deffered
Program Updates

- Extensions will be subject to a fee.

Lender F.A.Q.
Homebuyer F.A.Q.

Please check back soon for system training updates.

 

To register for Hillsborough Housing Finance Authority Flex Training, click here. For additional information on Lender Flex Training, please visit our Flex Training F.A.Q.

Note: Flex Training is available only on Tuesdays between 7 AM – Midnight in all time zones.