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MANATEE COUNTY
Housing Finance Authority of Manatee County
Key to Homeownership Program
ELIGIBLE AREAS – Manatee county
ELIGIBILITY CRITERIA* –
KEY TO HOMEOWNERSHIP FIRST MORTGAGE - Qualified buyers will receive a 30-year fixed rate first mortgage from a participating lender. Eligible loan products include FHA, VA, RD and Freddie Mac HFA Advantage Conventional.
DOWNPAYMENT ASSISTANCE – Up to $15,000 – assistance is a 0% Interest, 30-year deferred, second mortgage due upon refinance, sale, prepayment of first mortgage loan, at the end of 30-years or when the property ceases to be the principal residence of the mortgagor.
HOMEBUYER EDUCATION – Required for all borrowers and anyone listed on the deed.
Homebuyer Education Certification is acceptable for a period of one year from issuance. Approved education courses include:
1) Face to face from a HUD approved education provider
2) Online education ONLY from: www.eHomeAmerica.org
Lender provided homebuyer education is unacceptable as is over the phone education. If an education course is not listed on the HUD face-to-face web site, it is not acceptable. The only online education providers are listed above.
CREDIT SCORE - FICO mid score must be 660 or higher for FHA loans. And 640 for USDA-RD, VA and Freddie Mac HFA Advantage conventional loans. The maximum debt-to-income (DTI) ratio is 45%.
INCOME LIMIT CRITERIA – Household income is considered for ALL Borrower(s), spouses and anyone 18 years or older.
FHA, USDA-RD, VA Loans:
All household sizes $148,050
Freddie Mac Loans:
All household sizes $78,960
ELIGIBLE PROPERTY – Residential primary residences only, new or existing, one to four units, detached or attached, condos, townhomes.
MAXIMUM SALES PRICE LIMIT – Must include everything paid by the borrower or on the borrower’s behalf.
$515,804
Click here to view the program flyer and list of loan officers
Haga clic aquí para ver el folleto del programa y la lista de oficiales de crédito
Housing Finance Authority of Manatee County
Key to Homeownership Program
ELIGIBLE AREAS – Manatee county
ELIGIBILITY CRITERIA* –
- Buyers and their spouses need NOT be first-time buyers but must be able to permanently reside in the US.
- 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 status or physical handicap.
- Buyers must occupy the property purchased within 60 days of closing.
KEY TO HOMEOWNERSHIP FIRST MORTGAGE - Qualified buyers will receive a 30-year fixed rate first mortgage from a participating lender. Eligible loan products include FHA, VA, RD and Freddie Mac HFA Advantage Conventional.
DOWNPAYMENT ASSISTANCE – Up to $15,000 – assistance is a 0% Interest, 30-year deferred, second mortgage due upon refinance, sale, prepayment of first mortgage loan, at the end of 30-years or when the property ceases to be the principal residence of the mortgagor.
HOMEBUYER EDUCATION – Required for all borrowers and anyone listed on the deed.
Homebuyer Education Certification is acceptable for a period of one year from issuance. Approved education courses include:
1) Face to face from a HUD approved education provider
2) Online education ONLY from: www.eHomeAmerica.org
Lender provided homebuyer education is unacceptable as is over the phone education. If an education course is not listed on the HUD face-to-face web site, it is not acceptable. The only online education providers are listed above.
CREDIT SCORE - FICO mid score must be 660 or higher for FHA loans. And 640 for USDA-RD, VA and Freddie Mac HFA Advantage conventional loans. The maximum debt-to-income (DTI) ratio is 45%.
INCOME LIMIT CRITERIA – Household income is considered for ALL Borrower(s), spouses and anyone 18 years or older.
FHA, USDA-RD, VA Loans:
All household sizes $148,050
Freddie Mac Loans:
All household sizes $78,960
ELIGIBLE PROPERTY – Residential primary residences only, new or existing, one to four units, detached or attached, condos, townhomes.
MAXIMUM SALES PRICE LIMIT – Must include everything paid by the borrower or on the borrower’s behalf.
$515,804
Click here to view the program flyer and list of loan officers
Haga clic aquí para ver el folleto del programa y la lista de oficiales de crédito