Florida Housing Finance Corporation (FHFC) TBA Plus Second

Special Alert

Maximum Purchase Price


Contact Info:



PLEASE NOTE: FL Housing’s down payment and closing cost assistance CANNOT be used to cover the cost difference between the sales price and the appraised value and CANNOT be used to pay off borrower debt. The difference between appraised value and sales price or debt repayment must be paid with borrower’s own funds. Adhere to Agency/GSE (FHA, USDA-RD, VA, Fannie Mae, Freddie Mac) guidelines specific to citizenship requirements and documentation to support citizenship. Borrower(s) must have the ability to permanently and LAWFULLY reside in the State of Florida. On Freddie Mac loans, Borrower(s) must not have an ownership interest in more than two financed residential properties, including the subject property, as of the Note date. All borrowers are restricted to a one-time participation in FL Housing’s Homebuyer Loan Program. Any party appearing on mortgage, title/deed or note to This includes all first and second mortgage programs.

Credit Score Requirements

Must meet 1st mortgage agency, GSE, insurer and master servicer requirements.

Deferred Payments?

Yes, for 5 years

Accepted First Mortgage Type:

Freddie Mac HFA Advantage, Fannie Mae HFA Preferred

Homeowners Education Class:

Required for FTHB

Is Forgivable?

5 year forgivable unless a repayment trigger occurs before.


66 Counties, 1 City Available statewide in Florida.

Income Limitations:

Yes, based on Qualifying (1003) Income Income limits from FHFA/GSE 2022 guidelines

Maximum Assistance

5% of Total Loan Amount 3, 4, or 5% can be used for down payment, closing costs and prepaids, mortgage insurance premiums, or as a principal reduction to the first mortgage.

Education Requirements Info:

The course must meet standards defined by HUD or the National Industry Standards for Homeownership Education and Counseling. Lender must retain a copy of the certificate of course completion in the loan file. Examples of acceptable courses include: Freddie Mac CreditSmart Homebuyer U Essent Homebuyer Education Radian MI-HomeTrek Arch MI Fannie Mae Framework Any HUD Approved Counseling Course Whatever option is chosen, the course must provide a certificate and be completed prior to closing. All borrowers must complete the training and be listed on the certificate. You must also follow the appropriate agency (FHA, VA, USDA, FNMA, or FHLMC) guidelines as well.

Eligible Property Types:

Single Family DetachedCondo Townhome/PUDManufactured Home Modular Home

Income By Household Size:

HH1-8 $143,500 *Income limits as of 05/03/2023

Qualifying Ratios:

Must meet 1st mortgage agency, GSE, insurer and master servicer requirements.
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