HFA of Manatee County

HFA of Manatee County – Single Family & MCC Programs
Note – for details, see the Administrator’s Guidelines under GUIDE & FORMS

PROGRAM FUNDS
  • Program funds are available first-come, first-served from a continuously funded revolving pool.
  • RESERVATIONS OPEN 10:00 AM – 8:00 PM EST; All other functions available 24/7
ELIGIBLE AREAS
  • Manatee County, Florida
ELIGIBILITY CRITERIA
  • Options for Non First-Time Homebuyers (First Mortgage) & First-time Homebuyers (MCC)
    • Applies to All Borrower(s) & Spouses (occupant or non-occupant)
  • IRS filed returns for past 3 yrs – all borrower(s) & spouses (MCC)
  • Must be able to permanently reside in the U.S.
  • Principal residence
  • Borrower(s) must occupy property within 60 days of closing
LOAN TIME LINE REQUIREMENTS Please DO NOT Reserve early.

  • Reservation to Underwriter Certification – 15 days (can’t extend, must certify or cancelled
  • Reservation to Closed & Delivered First Mortgage Loan – 45 days (can’t extend)
  • Reservation to Exceptions Cleared & First Mortgage Loan Purchased – 70 days
ELIGIBLE LOAN TYPES 
  •  FHA, VA, USDA-RD
DOWN PAYMENT ASSISTANCE & ADDITIONAL MCC 
  • DPA up to $10,000 
  • MCC: An additional Mortgage Credit Certificate for 50% Please see the Rates Tab
INCOME LIMIT CRITERIA 
  • Household income considered for ALL Borrower(s) , spouses and anyone 18 years or older
  • 1-2 person HHLD $65,809 & 3 person plus HHLD $75,680
HOME ACQUISITION LIMITS  
  • 272,195
HOME BUYER EDUCATION 
  • not required
FICO SCORE REQUIREMENT 
  • Mid score must be 640  or higher,
  • DTI Requirement is 45%
  • no manual UW
CO-SIGNERS 
  • Co-signers are permitted for FHA loans. Follow FHA guidelines.
  • Co-Signers cannot be named on the Warranty Deed.
LENDER PARTICIPATION 
  •  For information on how your company can participate in this program, Click here
FORMS 
  • Program Forms are available on-line and automated. After you login to Lender Portal, click on FORMS
EXTENSIONS
  • To request a one-time 30-day extension, click here.   Extensions are not granted to extend the 15 days from Reservation to UW Certification
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 getting to the Servicer Lender Guides, Click here. To contact US Bank Lender Help Desk, Click here.

 

 Current Rate/Offerings  

Rate/Offerings FICO Lock Rate DPA Effective Date
GOVERNMENT
FHA, USDA-RD or VA 640 4.00%  up to 10,000 12/15
Mortgage Credit Certificate: Issued on ALL 1st Mortgage loans, for an MCC value of 50% 

 

  • Zero Point Loans
  • No Commitment, Origination or discount points/fees will be charged
  • Term: 30 Year Amortizing
  • manufactured homes not allowed
  • manual UW not allowed
  • Min FICO 640

 

DPA

  • up to $10,000
  • 0%, 30 year deferred second mortgage
  • to be used for Down Payment and/or Closing Costs Assistance

 

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

    . Administrator Guidelines (8/23)    Administrator's Guidelines 4/27      

  • 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
Program Sample Formsform 

 

 

The following is a list of Approved Lenders (by US Bank & Manatee County HFA), which have attended Program Training:

The following is a list of Approved Lenders

  • DHI Mortgage
  • Fairway Independent Mortgage Corp
  • HomeBridge Financial Services, Inc. (REMN)
  • IBERIABANK Mortgage Company
  • Open Mortgage
  • Shelter Mortgage Company, LLC

Interested in becoming a participating lender? Contact us.

Program Updates
  • 7/27-updated information in guidelines related to second mortgages
  • 3/8 – Income & Acquisition limits updated
  • 12/1- MANUFACTURED HOMES are eliminated (eff 12/1 reservations)
    12/1- FHA – no manual underwriting (eff 12/1 reservations)
    12/1- Min FICO is 660 (eff 12/1 reservations)
  • 4/20 – rate increased to 4.00%,
  • 4/20/15 – DPA up to 10,000, loan is NOT exempt from doc stamps and intangible tax
  • 8/18 – The First Mortgage program – no first time buyer requirement, no tax transcripts. Required when the MCC is used. See guidelines.
  • 6/24 – updated income & Acquisition limits – effective 6/24
  • 6/9 – Updated guidelines – servicer fee
  • 8/5 -DPA is increased from up to 7,500 to up tp 10,000
  • 7/1 Mortgagee Letter 2013-14
  • 3/25 – Program Starts

 

EhousingPlus University

  1. eHP Lender Program Training
    • Required for everyone participating in the program
    • offered 24/7
    • Click here to attend TBA Program training
    • Click here to attend MCC Program training
  2. eHP System Training*
    • After you complete the online Lender Program Training, information is provided as to what happens next.
    • Click here to register for system training

 

Should you have any questions on training, please contact jennifer@ehousing.cc

To read more about eHP Program Training, click here.

* System Training is required at least once, so that users gain the knowledge necessary to originate and manage their loans on-line. eHP University provides additional opportunities to re-train and/or refresh your system knowledge. Recurring (experienced) system users do not need to attend system training.