Escambia Program Highlights

Escambia HFA

Escambia HFA | At-A-Glance

AVAILABLE PROGRAMS Escambia HFA Big Splash TBA
ELLIGIBLE AREA Eligible Areas
ELIGIBLE BORROWER(S) First-Time Buyer Requirement (Borrower and Spouse)
RATES See Chart
DPA AVAILABLE See Chart
LOAN TYPE See Chart
INCOME LIMITS Income Limits
PURCHASE LIMITS Purchase Limits
TIMELINE REQUIREMENTS 60 calendar days from loan reservation to loan purchase. Underwriter Certitied anytime prior to calendar day 45.
HOMEBUYER EDUCATION Strongly recommended but not a program requirement.
CO-SIGNORS Co-Signers are permitted with FHA loans only. Co-signer cannot live in the property and cannot have any ownership interest.
PROGRAM GUIDELINES Conventional Guidelines
PROGRAM GUIDELINES Government Guidelines
PARTICIPATING LENDERS Participating Lenders

MCC

Escambia HFA, MCC | At-A-Glance

AVAILABLE PROGRAMS MCC
ELLIGIBLE AREA
ELIGIBLE BORROWER(S)
RATES
DPA AVAILABLE
LOAN TYPE
INCOME LIMITS
PURCHASE LIMITS
TIMELINE REQUIREMENTS
HOMEBUYER EDUCATION
CO-SIGNORS
PROGRAM RULES & REQUIREMENTS MCC

Escambia HFA

Escambia HFA | At-A-Glance

AVAILABLE PROGRAMS Escambia HFA Big Splash TBA
ELLIGIBLE AREA Eligible Areas
ELIGIBLE BORROWER(S) First-Time Buyer Requirement (Borrower and Spouse)
RATES See Chart
DPA AVAILABLE See Chart
LOAN TYPE See Chart
INCOME LIMITS Income Limits
PURCHASE LIMITS Purchase Limits
TIMELINE REQUIREMENTS 60 calendar days from loan reservation to loan purchase. Underwriter Certitied anytime prior to calendar day 45.
HOMEBUYER EDUCATION Strongly recommended but not a program requirement.
CO-SIGNORS Co-Signers are permitted with FHA loans only. Co-signer cannot live in the property and cannot have any ownership interest.
PROGRAM GUIDELINES Conventional Guidelines
PROGRAM GUIDELINES Government Guidelines
PARTICIPATING LENDERS Participating Lenders

MCC

Escambia HFA, MCC | At-A-Glance

AVAILABLE PROGRAMS MCC
ELLIGIBLE AREA
ELIGIBLE BORROWER(S)
RATES
DPA AVAILABLE
LOAN TYPE
INCOME LIMITS
PURCHASE LIMITS
TIMELINE REQUIREMENTS
HOMEBUYER EDUCATION
CO-SIGNORS
PROGRAM RULES & REQUIREMENTS MCC

Today’s Rates & Offerings

Escambia HFA | Rates & Offerings

GOVERNMENT

Escambia County Big Splash Governmental Program


FHA, VA, and USDA-RD


  • First-time buyer requirement (borrower and spouse including NPS) no homeownership in the past 3 years
  • Must be principal residence
  • Maximum Income Limits
  • Maximum Purchase Price Limits
  • 60 calendar days from loan reservation to loan purchase (Underwriter Certification 45 calendar days)
  • Household income calculation (borrower + spouse (including NPS) + everyone 18 years of age or older)
  • Assistance offered as a 30-year deferred second mortgage (never forgiven)
  • Assistance amount is $10,000 with non-amortizing, deferred second mortgage
  • Maximum DTI is 45% with 640 FICO
  • Past 3 years signed federal income tax returns AND/OR tax transcripts for all borrowers and spouse (even NPS)
  • Eligible area: (We will have a link to the eligible area on the webpage)
Offering FICO DPA  Lock Rate
FHA, USDA-RD, VA  640 up to 10k 30 Year Fixed 7.125%
CONVENTIONAL

Escambia County Big Splash Conventional Program


Freddie Mac HFA Advantage


  • First-time buyer requirement (borrower and spouse including NPS) no homeownership in the past 3 years
  • Must be principal residence
  • Maximum Income Limits
  • Maximum Purchase Price Limits
  • 60 calendar days from loan reservation to loan purchase (Underwriter Certification 45 calendar days)
  • 1003 Credit qualifying income
  • Assistance offered as a 30-year deferred second mortgage (never forgiven)
  • Assistance amount is $10,000 with non-amortizing, deferred second mortgage
  • Maximum DTI is 45% with 640 FICO
  • Eligible area: (We will have a link to the eligible area on the webpage)
Offering FICO DPA  Lock Rate
Freddie Mac HFA Advantage 640 up to 10k 30 Year Fixed 7.375%