Housing Finance Authority (HFA) of Hillsborough County – Mortgage Credit Certificate (MCC) – Targeted Areas

Special Alert

Program limited to homes in targeted areas.

Maximum Purchase Price


Contact Info:

http://hillsboroughcountyhfa.org/contact/ 601 E. Kennedy Blvd, County Center 24th Floor, Tampa, FL 33602 8132463150


Recapture Tax may apply (within first 9 years). Must secure first mortgage through a participating lender. Must meet 1st mortgage, agency and master servicer requirements. Buyer must be a first-time home buyer. The Mortgage Credit Certificate is a completely separate reservation. The Mortgage Credit Certificate is mandatory for all borrowers utilizing the Home Sweet Home Hillsborough program in Hillsborough and Duval counties. Underwriting – consideration of the MCC to reduce PITI is not permitted by FHA.

Credit Score Requirements

Minimum Credit Score: 640 Determined by first mortgage product or lender.

Deferred Payments?

Accepted First Mortgage Type:

Freddie Mac, Freddie Mac HFA Advantage, Fannie Mae, FHA 203(b), VA, USDA / RD

Homeowners Education Class:


Is Forgivable?


1 County: Hillsborough Program is limited to targeted areas. Check the appropriate program guide for specific targeted area details.

Income Limitations:

Yes, based on Compliance Income (including household income) Income limits from Agency-defined 2022 guidelines Include income of borrower(s) and spouse (occupants and non-occupants) and any person who will live in the household who is 18 years of age or older. Bond program income is not averaged. It is annualized. That’s different from income used for credit underwriting. More detailed guidance for calculating program income is located in this guide in the area titled Compliance Underwriting.

Maximum Assistance

Education Requirements Info:

First-Time Homebuyers, unless qualifying under a Veteran’s Exception or those who are exempt by purchasing a home in a Federally Designated Targeted Area as specified in the this Program Guide, must complete a Program-approved pre-purchase homebuyer education course. The HFA will accept face-to-face homebuyer education if provided by a HUD approved counseling agency, a unit of local government that provides pre-purchase homebuyer education in FL, or a counseling agency designated by a unit of local government to provide homebuyer education on their behalf. Face to face from a HUD approved education provider: https://apps.hud.gov/offices/hsg/sfh/hcc/hcs.cfm?webListAction=search&searchstate=FL

Eligible Property Types:

Single Family Detached Condo Townhome/PUD

Income By Household Size:

HH1-2HH3-8 $80,500$94,415 *Income limits as of 05/15/2023

Qualifying Ratios:

Determined by first mortgage product or lender.
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