MCC

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

ISSUING AGENCY Housing Finance Authority of Manatee County
PROGRAM FUNDS
  • MCC 2016
  • $6,250,000 MCC allocation
  • 50% Credit Rate
ELIGIBLE AREAS
  •  Manatee County
ELIGIBILITY CRITERIA
  • First-Time buyer requirement
  • Buyers & Spouses 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
LOAN TIMELINE REQUIREMENTS Please DO NOT Reserve early.  Should be qualified prior to reservation.

  • 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, Conventional
INCOME LIMIT CRITERIA
  • Household income is considered for ALL Borrower(s) , spouses and anyone 18 years or older residing in the home.
  • 1-2 person HHLD  $65,500
  • 3 person plus HHLD  $75,325
HOME ACQUISITION LIMITS
  • Home Acquisition Limits – $264,706
CO-SIGNERS
  • Follow Agency (FHA, VA, Freddie Mac) 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

 

 

eHousingPlus is the Program Administrator, and provides some of the following services:
Administrator Guidelines (6/30)  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 on Program Goals.
  • Need help, Click here