ELIGIBLE AREA – HILLSBOROUGH COUNTY

ELIGIBLE CRITERIA:

• BUYERS AND THEIR SPOUSES (OCCUPANT AND NON-OCCUPANT) MUST BE FIRST-TIME BUYERS AND MUST BE ABLE TO PERMANENTLY RESIDE IN THE U.S.
• BUYERS MUST LIVE IN THE PROPERTY THEY PURCHASE AS THEIR PRINCIPAL RESIDENCE.
• ALL APPLICANTS MUST BE CONSIDERED IRRESPECTIVE OF AGE, RACE, COLOR, RELIGION, NATIONAL ORIGIN, SEX, MARITAL STATUS, MILITARY SATUS OR PHYSICAL HANDICAP.
• BUYERS MUST OCCUPY THE PROPERTY PURCHASED WITHIN 60 DAYS OF CLOSING.
• BUYERS MUST LIVE IN THE PROPERTY AS THEIR PRINCIPAL RESIDENCE AND PROPERTY MAY NEVER BE RENTED.

DOWNPAYMENT ASSISTANCE – 30 YEAR DEFERRED, 0.00% SECOND MORTGAGE UP TO $10,000. MUST BE USED FOR DOWNPAYMENT AND CLOSING COST. THE SECOND MORTGAGE IS NEVER FORGIVEN AND MUST BE REPAID WHEN THE FIRST MORTGAGE IS REFINANCED, SALE, SHORT-SALE, FORECLOSURE OR IF THE BORROWER CEASES TO LIVE IN THE PROPERTY.

FHA, USDA-RD AND VA-LOANS:

• 1-2 PERSON HOUSEHOLD $63,900
• 3 OR MORE PERSON HOUSEHOLD $73,485

FREDDIE MAC LOANS:

• ALL HOUSEHOLD SIZES $53,520

PURCHASE PRICE LIMIT: $283,348

HOMEBUYER EDUCATION – FIRST TIME HOMEBUYERS MUST COMPLETE A PROGRAM-APPROVED PRE-PURCHASE HOMEBUYER EDUCATION COURSE. PLEASE SPEAK WITH A PARTICIPATING LENDER FOR DETAILS.

ELIGIBLE PROPERTY – NEW OR EXISTING, ONE TO FOUR UNITS, DETACHED OR ATTACHED, CONDOS, TOWNHOMES.

CREDIT SCORE – FICO MID SCORE MUST BE 640 OR HIGHER.