​ POLK COUNTY


Housing Finance Authority of Pinellas County AND Housing Finance Authority of Polk County
HomeKey First-Time Buyer Program
Continuously funded program - Never "runs out" of money

ELIGIBLE AREAS – Polk 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 – 30 Year Deferred, 0.00% second mortgage, up to $8,000. Must be used for down payment and closing cost.  The second mortgage is never forgiven and must be paid when the first mortgage is repaid, sale, short-sale, foreclosure or if the borrower ceases to live in the property.
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INCOME LIMIT CRITERIA – The income of all household members must be used to determine program eligibility
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FHA, USDA-RD and VA Loans:
1 - 2 person household   $81,000
3 or more person household   $93,553

Freddie Mac Loans:
All household sizes   $49,680

MAXIMUM SALES PRICE  LIMIT – This price must include everything paid by the buyer or on the buyer's behalf.
$349,525
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 - For FHA, VA, RD loans: minimum FICO credit score of 660; for Freddie Mac HFA Advantage buyers: minimum FICO credit score of 640

WHAT'S THE NEXT STEP?
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