Housing Finance Authority (HFA) of Lee County – Own A Home Opportunity Grant Program – (Multi County) – Targeted

Special Alert

**CHECK RATES/OFFERINGS FOR AVAILABILITY** Income limits are lower for Freddie Mac financing and borrowers whose income is at or below 80% AMI which is not reflected here. To view all income limits access the grant final guide: https://programs.ehousingplus.com/wp-content/uploads/Lee-Grant-FINAL-Guide8-22-22.pdf

Maximum Purchase Price


Contact Info:

http://hfaleeco.org/ PO Box 2258, Fort Myers, FL 33902 239-334-4003



Credit Score Requirements

Minimum Credit Score: 640 • The program maximum DTI ratio is 45% for FHA, USDA-RD, VA and Freddie Mac loans with a minimum 640 FICO. • The program maximum DTI ratio is 50% for FHA and Freddie Mac loans with a minimum 680 FICO. • Lenders must comply with Mortgage Insurance DTI requirements which may limit the maximum DTI for borrowers with a FICO under 700.

Deferred Payments?

Accepted First Mortgage Type:

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

Homeowners Education Class:


Is Forgivable?

DPA Grant is forgiven at closing.


7 Counties: Broward, Charlotte, Collier, Lee, Palm Beach, St. Johns, Volusia In select target areas of: Broward, Charlotte, Collier, DeSoto, Lee, Palm Beach, Sarasota, St. Johns and Volusia Counties.

Income Limitations:

Yes, based on Qualifying (1003) Income Qualifying income in this program includes ONLY the 1003 income used to qualify borrower(s) for the loan.

Maximum Assistance

5% of Total Loan Amount DPA is in the form of a 3%, 4% or 5% grant that is forgiven at closing.

Education Requirements Info:

All borrowers and anyone listed on the deed must attend homebuyer education PRE-CLOSING from an educational provider approved by the Issuer. The Issuer prefers that education be taken as early in the homebuyer process as possible to maximize the benefit to the borrowers. A Homebuyer Education Certification is acceptable for a period of one year from issuance. Lender provided homebuyer education is unacceptable as is over the phone education. If an education course is not listed on the HUD face-to-face web site, it is not acceptable. Approved Face-to-Face education provider 1) Face to face from a HUD approved education provider

Eligible Property Types:

Single Family Detached Condo Townhome/PUD Modular Home

Income By Household Size:

HH1-8 $147,900 *Income limits as of 04/28/2023

Qualifying Ratios:

Housing Ratio: — Total DTI: Up To 50% FHA and Freddie Mac – 50% DTI requires a min 680 FICO FHA, VA, USDA – 45% DTI min 640 FICO