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| PTC FICO 640 |
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| Housing Finance Authority 100% Financing State of Florida
And Florida Assist Down Payment Bond |
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| • MORTAGE REQUIREMENTS |
| • 30-year fixed rate first mortgage loans by approved lenders in the State of Florida. |
| • Maximum FHA,VA, CONV, LTV 103% |
| • Maximum FHA DTI 49.99% |
| • Maximum Conventional DTI 49.99% |
| • Must be First time Home Buyers or not have owned a house in the past 3 years. |
| • Single Family Residence. |
| • Can be used with FHA VA Conventional |
| • No Prepayment Penalty Fee if 1st mortgage loan is paid out early |
| • Closing Cost Allowances |
| • FLORIDA ASSIST $7,500 silent second mortgage 0% Interest with 100% Financing. |
| • The $7,500 must be reapaid when property sells, is refinanced, rented out or when the
mortgagor leaves the property for any reason. |
• FHA, Fannie Mae, or Conventional Borrowers in the State of Florida must meed income
purchase price and other program guidelines,
and can qualify for an FNMA conventional 1st
mortagage loan. |
• FLORIDA ASSISTS Conventional Only $10,000 15 year Second Mortgage Amortized $70 per
month until the amortized loan of $10,000
has been paid off or is due upon resale, refinance or upon rental of the home |
| • Seller Concessions of up to 6% allowed depending on program |
| • OTHER QUALIFICATIONS |
| • Maximum Purchase price for home $294,900 |
| • Maximum Household income Mimimum $50,000-$70,000. |
| • Can purchase new or release homes |
| • Buyers must occupy within 60 days of closing |
| • Primary Residences only, no second home or investment properties. |
| • No cash back at closing. |
• Borrowers must be employed full time with 2 years continous Income must be supported
by: 3 years Federal Tax Returns , W-2'Ss ,
pay stubs and 2 year history of continous employment, 1099 3 yyear Tax Returns |
| • FHA Version, Morgage Credit Certificate (MCC)NOT available. |
| • Requires HUD Certified Home Buyer EduCATION On Line Course |
| • Refinances; Not permitted. |
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