Orange County Housing Finance Authority AND Seminole County
First-Time Buyer Program
* See loan officer for additional information
DOWN PAYMENT ASSISTANCE – 30 year deferred, 0% interest second mortgage up to $7,500. Must be used for down payment and closing cost assistance.
INCOME LIMIT CRITERIA – Household income is considered for ALL Borrower(s), spouses and anyone 18 years or older.
1 – 2 person household $59,000
3 or more person household $70,800
MAXIMUM SALES PRICE LIMIT – This price must include everything paid by the buyer or on the buyer’s behalf.
HOMEBUYER EDUCATION – Homebuyers and everyone on the Warranty Deed must take homebuyer education. See loan officer for approved providers.
ELIGIBLE PROPERTY – Primary residences only, 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%.