St. Lucie County

Option #2
Escambia County Housing Finance Authority AND St. Lucie County Housing Finance Authority
HFA Big Splash Program for the conventional loan (Freddie Mac HFA Advantage)

ELIGIBLE AREAS – St Lucie County

ELIGIBILITY CRITERIA* –

1. Buyers and their spouses (occupant and non-occupant) must be first-time buyers and must be able to permanently reside in the US.
2. Buyers must live in the property they purchase as their principal residence.
3. All applicants must be considered irrespective of age, race, color, religion, national origin, sex, marital status, military status or physical handicap.
4. Buyers must occupy the property purchased within 60 days of closing.

* See loan officer for additional information

DOWN PAYMENT ASSISTANCE – Up to $7,500 for down payment and closing cost assistance. The assistance is in the form of a 30-year deferred, 0% Interest second mortgage. This is a second mortgage and is NEVER forgiven and must be repaid even if the first mortgage is refinanced.

INCOME LIMIT CRITERIA – Income considered ONLY for the borrower(s) listed on the 1003 loan application.  This is the same income used to credit qualify the borrower(s).

1. person household  $72,240

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2. or more person household  $84,280

MAXIMUM SALES PRICE  LIMIT –  This price must include everything paid by the buyer or on the buyer’s behalf.  $291,176

HOMEBUYER EDUCATION – Required, speak with a participating lender for details.

ELIGIBLE PROPERTY – New or existing, one unit (no 2-4 units), detached or attached, condos, townhomes.

CREDIT SCORE – FICO mid score must be 640 or higher.

DTI – The maximum debt-to-income (DTI) ratio is 45%.

CO-SIGNERS – Not permitted.

WHAT’S THE NEXT STEP?  
For both Escambia County HFA Big Splash Programs​ if you think you qualify for the program based upon the criteria above, contact a participating loan officer to get pre-approved for a mortgage.

CLICK HERE TO VIEW THE PROGRAM FLYER & LIST OF PARTICIPATING LOAN OFFICERS

Option #3
Florida Housing Finance Corporation
​Hardest Hit Fund Down Payment Assistance First-Time Buyer Program

ELIGIBLE AREAS – St. Lucie County

ELIGIBILITY CRITERIA* –

1. Buyers and their spouses (occupant and non-occupant) must be first-time buyers and must be able to permanently reside in the US.
2. Buyers must live in the property they purchase as their principal residence.
3. All applicants must be considered irrespective of age, race, color, religion, national origin, sex, marital status, military status or physical handicap.
4. Buyers must occupy the property purchased within 60 days of closing.  
5. Buyers must live in the property as their principal residence and the property may never be rented.

* See loan officer for additional information

DOWN PAYMENT ASSISTANCE – 5 year forgivable, 0.00% second mortgage, up to $15,000. Must be used for down payment and closing cost.  The second mortgage is forgiven 20% each year and must be repaid when the first mortgage is refinanced, sale, short-sale, foreclosure or if the borrower ceases to live in the property.  After the fifth year the second mortgage is completely forgiven.
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INCOME AND PURCHASE PRICE LIMIT  – View income limits on the flyer below.

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.

DTI – The maximum debt-to-income (DTI) ratio is 45%.

CO-SIGNERS – Not allowable in this program.