Orange County Housing Finance Authority

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PROGRAM FUNDS	$53,000,000
ELIGIBLE AREAS	Orange, Lake, Osceola, Seminole counties
ELIGIBILITY CRITERIA	- First-time Homebuyers - 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	20 year amortizing, 0%, up to $7,500. Must be used for down payment and closing cost. No cash back allowed.
INCOME LIMIT CRITERIA	Household income is considered for ALL Borrower(s), spouses and anyone 18 years or older. - 1-2 person HHLD max = $73,560 - 3+ person HHLD max = $85,820
HOME ACQUISITION LIMITS	- Non-Target = $318,375 - Target = $389,125
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. View Homebuyer Education Providers.
FICO SCORE REQUIREMENT	Mid score must be 620 or higher
CO-SIGNERS	Cosigners are permitted for FHA/VA loans. Cannot be named on the Warranty Deed.
LOAN TIMELINE REQUIREMENTS	- Reservation to UW Cert: 30 days - Reservation to Loan Purchase: 75 days
LENDER PARTICIPATION	For additional information, please Click Here
FORMS AND DOCUMENTATION	Click Here to View the Forms and Documentation.
OTHER	For additional information, please Click Here

3.75%, Up to $7,500, 0% 20 Year amortizing, Second Lien for DPA; 1 Discount Point
3.875% Up to $7,500, 0% 20 Year amotizing, Second Lien for DPA; 0 Discount Point