2011 Bond Program
| PROGRAM FUNDS | $ 5,000,000 |
| ELIGIBLE AREAS | Manatee & Palm Beach 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 yrs – all borrower(s) & spouses |
| ELIGIBLE LOAN TYPES | FHA, VA, USDA-RD |
| AVAILABLE DOWN PAYMENT ASSISTANCE | DPA Available, see rates; Must be used for downpayment and closing cost. No Cash Back. |
| INCOME LIMIT CRITERIA | Household income is considered for ALL Borrower(s) , spouses and anyone 18 years or older. - 1-2 person HHLD max = $74,760 - 3+ person HHLD max = $87,220 |
| HOME PACQUISITION LIMITS | Acquisition Limits - Non-Targeted Areas: $318,375 - Targeted: $472,205 |
| HOME BUYER EDUCATION | Required for ALL first time home borrowers. |
| FICO SCORE REQUIREMENT | Minimum credit score of 620 |
| CO-SIGNERS | Co-Signers are permitted for FHA Loans. Cannot be named on the Warranty Deed. |
| LOAN TIME LINE REQUIREMENTS | - Reservation to UW Cert: 15 days - Reservation to Close and Delivery: 30 days - Reservation to Loan Purchase: 60 days |
| LENDER PARTICIPATION | Click Here |
| FORMS AND DOCUMENTATION | Click Here |
| OTHER | For additional information, Click Here. |
Current Rates
- 4.00% 30 year amortizing first mortgage loan with 1.25% Origination Fee
DPA
- Manatee County: second mortgage – 4% of first mortgage; due upon sale, refinance,
repayment of the first mortgage, or receipt of tax credit refund Purchase and servicing
by Manatee County HFA. - Palm Beach County: second mortgage – 4% of first mortgage with 3.00% simple
interest; due upon sale, refinance, repayment of the first mortgage, Purchase and
Servicing by Palm Beach HFA
Program Updates
- Information coming soon!
I am a lender and I have questions. Who can I contact?
If you have any questions, please refer to the Compliance Contact Directory
