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Welcome back!
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Total Program
Funds |
15
Million |
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Interest Rates |
5.175% HOME
Key Eff 1/26/2010
5.75
%- HOME KEY
30 year
FHA, VA
0%
Origination
0%
Discount |
NEW
CREDIT
requirement |
All buyers must have a
minimum FICO credit score of 600
(the mid score must be 600 or above), however for home buyers with
non-traditional credit or where there is no FICO score, manual
underwriting shall be permitted. |
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2nd
-HOME KEY PLUS |
Second mortgage loans are
available in amounts up to $6,500 for down payment and closing costs and
must be used with Home Key 1st Mortgage Loans. Loan Term 30 year,
deferred loan but accelerated if any of the following occur – sale,
transfer, other disposition of the property (including any involuntary
transfer by or as a result of foreclosure or judicial sale or operation
of law), refinance or satisfaction of the first mortgage loan. This loan
is repayable and is not forgiven.
Second mortgage loans are
available in amounts up to $12,000 for down payment and closing
costs and must be used with Home Key 1st Mortgage Loans. The Home Key
Plus 2nd is available anywhere in Pinellas County. Home Key 2nd Mortgage
Loans bear interest
at a rate of 0% and require no payments for
5 years. Thereafter, the loan will amortize in equal fixed payments over
a ten year period. |
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Eligible Areas |
Pinellas Counties |
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Allocations |
Pools are available to all
lenders |
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Loan Commitments
Time Line |
TIMELINE |
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Participating
Lenders |
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Income Limits |
Non-Target
Targeted
1-2 per hh 3+ per hh
1-2 per hh 3+ per hh
$59,200
$68,080
$71,040 $82,880 |
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Acquisition
Limits |
Non-Target
$258,690
Targeted $316,177 |
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Final Purchase
Date - |
TIMELINE |
Contact
Bond Compliance for additional information.
Program Information and Materials-
Administrator's Program Guidelines,
ALL Program Forms, Shipping Checklists and Stacking Sheets, Guidelines
(Underwriting, Delivery & Funding, Fannie, Freddie, FHA) All Presentations,
Homebuyer Education, Bulletins, DPA & Second Mortgages, Manufactured Homes,
PMI, Closing Docs, Marketing Materials.....
Home Key Plus
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