HFA of Lee County
Own a Home Opportunity Administrator Guidelines ![]() |
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PARTICIPATING LENDERS ![]() |
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ISSUING AGENCY |
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PROGRAM FUNDS |
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ELIGIBLE AREAS |
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ELIGIBILITY CRITERIA |
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LOAN TIME LINE REQUIREMENTS | Please DO NOT Reserve early. Should be qualified prior to reservation.
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ELIGIBLE LOAN TYPES |
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MCC |
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DOWN PAYMENT ASSISTANCE |
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INCOME LIMIT CRITERIA |
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HOME ACQUISITION LIMITS |
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HOME BUYER EDUCATION |
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FICO SCORE REQUIREMENT |
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CO-SIGNERS |
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LENDER PARTICIPATION |
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FORMS |
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THE MASTER SERVICER |
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Own a Home Opportunity GRANT Administrator Guidelines ![]() |
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ISSUING AGENCY | Housing Finance Authority of Lee County |
PROGRAM FUNDS |
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ELIGIBLE AREAS |
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ELIGIBILITY CRITERIA |
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LOAN TIMELINE REQUIREMENTS | Please DO NOT Reserve early. Borrowers should be qualified prior to locking reservation.
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ELIGIBLE LOAN TYPES |
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MCC |
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DOWN PAYMENT ASSISTANCE |
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INCOME LIMIT CRITERIA |
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HOME ACQUISITION LIMITS |
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HOME BUYER EDUCATION |
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FICO & DTI REQUIREMENT |
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CO-SIGNERS |
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LENDER PARTICIPATION |
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FORMS |
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THE MASTER SERVICER |
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ADMINISTRATOR GUIDELINES ![]() |
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ISSUING AGENCY | Housing Finance Authority of Lee County |
PROGRAM FUNDS |
|
ELIGIBLE AREAS |
|
ELIGIBILITY CRITERIA |
|
LOAN TIMELINE REQUIREMENTS | Please DO NOT Reserve early. Your Underwriter MUST UW Certify the loan 15 days after Reservation, or lock will be cancelled. |
ELIGIBLE LOAN TYPES |
|
INCOME LIMIT CRITERIA |
|
HOME ACQUISITION LIMITS |
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HOME BUYER EDUCATION |
|
FICO SCORE REQUIREMENT |
|
CO-SIGNERS |
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LENDER PARTICIPATION |
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FORMS |
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Current Rate/Offerings – Reservation/locks are AVAILABLE from 10:00am-8:00pm EDT (excluding weekends & holidays)
see below Rate/Offerings | FICO | DPA | Lock Rate |
GOVERNMENT (w/Second) | |||
FHA, USDA-RD, VA | 640 | $7,500 or $10,000 | 7.750% |
CONVENTIONAL | |||
Freddie Mac 80% AMI or OVER 80% AMI | 640 | $7,500 or $10,000 | 8.000% |
GOVERNMENT (Grant) | |||
FHA, USDA-RD, VA | 640 | 3% | n/a |
FHA, USDA-RD, VA | 640 | 4% | n/a |
FHA, USDA-RD, VA | 640 | 5% | n/a |
CONVENTIONAL | |||
Freddie Mac 80% AMI or OVER 80% AMI | 640 | 0% | 7.750% |
Freddie Mac 80% AMI or OVER 80% AMI | 640 | 3% | n/a |
Freddie Mac 80% AMI or OVER 80% AMI | 640 | 5% | n/a |
DPA
- Must be used for Down Payment and/or Closing Costs Assistance
- Cashback is not allowed
- Lender funds and is reimbursed by US Bank at purchase
- w/Second Mortgage – up to $7,500 – Lee (including Charlotte, Collier, DeSoto, Sarasota) and up to $10,000 – Palm Beach
Please see each of the Programs Summary Tab