
Housing Finance Authority of Manatee County
Manatee County offers 2 great options to homebuyers. Please choose one of the options listed below.
Option #1 – Key to Homeownership Program
ELIGIBILITY CRITERIA* –
* See loan officer for more information
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 $10,000 – assistance is a 30-year deferred, 0% rate second mortgage due upon refinance, sale, prepayment of first mortgage loan 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:
CREDIT SCORE – FICO mid score must be 640 or higher. 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.
ELIGIBLE PROPERTY – 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.
$264,706
Option #2 – Key to Homeownership Grant Program
ELIGIBLE AREA – Manatee county
ELIGIBILITY CRITERIA* –
* See loan officer for more information
KEY TO HOMEOWNERSHIP GRANT 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.
DOWN PAYMENT ASSISTANCE – 4% or 5% grant of the Note amount. Must be used for down payment and closing cost assistance. This grant is never repaid.
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:
CREDIT SCORE – FICO mid score must be 640 or higher. The maximum debt-to-income (DTI) ratio is 45%.
INCOME LIMIT CRITERIA –Must include the income of the borrower only $75,325.
ELIGIBLE PROPERTY – 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.
$323,529