Home Key Single Family Program 

 

ADMINISTRATOR GUIDELINES   
PARTICIPATING LENDERS   
PROGRAM FUNDS
  • Bond Program
ELIGIBLE AREAS
  • Pinellas, Pasco and Polk Counties
ELIGIBILITY CRITERIA
  • First-time Homebuyers – All Borrower(s) & Spouses(occupant or non-occupant)
  • Must be able to permanently reside in the U.S.
  • Principal residence
  • Borrower(s) must occupy property within 60 days of closing
  • IRS filed returns for past 3 yrs – all borrower(s) & spouses
TIMELINE REQUIREMENTS
  • Reservation to Compliance Approval & Purchase – 60 days
  • Loan must be certified any time prior to closing
ELIGIBLE LOAN TYPES
  • FHA, VA, USDA-RD
  • Freddie Mac 80% AMI
INCOME LIMIT CRITERIA
  • Household income is All income of the household (18 years or older)
    • see Guidelines
HOME ACQUISITION LIMITS
  • see Guidelines
HOME BUYER EDUCATION
FICO SCORE / DTI  REQUIREMENT 
  • 660 & 45% DTI. Please see Guidelines
CO-SIGNERS
  • Cosigners are permitted for FHA/VA loans. Cannot be named on the Warranty Deed.
AGENCY WEB
FORMS
  • Program Required Forms are available online, under the “PROGRAM FORMS” Tab.
  • In case you need to disclose-  Notices to Buyers  
MASTER SERVICER
  • Provides information and training concerning the mortgage loan file, acceptable loan products, delivery and funding, reviews/purchases the mortgage file.  Servicer Lender Guides, Click here   If you need assistance with the Servicer Lender Guides or  to contact the US Bank, Click here.
LENDER PARTICIPATION
  • If your Company is interested in participating in this program, please Click here

 

 Current Rate/Offerings  
Rate/Offerings FICO Pinellas DPA Pasco DPA Polk DPA Lock Rate
 GOVERNMENT
FHA, USDA-RD or VA 660 12k 8k 8k 6.250%
 CONVENTIONAL
Freddie Mac 80% AMI  660 12k
 8k
 8k
 6.750%
Freddie Mac OVER 80% AMI 
  • 1% origination or discount may be charged.  
  • Term: 30 Year Amortizing
  • manufactured homes not allowed.
  • manual UW not allowed.
DPA 
  • $12,000 Pinellas County and $8,000 Pasco & Polk Counties
  • 30 Year, 0% rate
  • Deferred until first Mortgage is paid in full, refinance, sale of home, or ceases to be primary residence
  • DPA is for down payment & closing costs
  • Cash back is not allowed

 

Please see the Summary Tab