Housing Finance Authority (HFA) of Manatee County – Key to Homeownership Grant Program

Special Alert

Maximum income and purchase price limits vary depending on insurer and/or 1st mortgage product. Review program guidelines for relevant details.

Maximum Purchase Price




Credit Score Requirements

Minimum Credit Score: 640 FHA/USDA-RD/VA: 660

Deferred Payments?


Accepted First Mortgage Type:

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

Homeowners Education Class:


Is Forgivable?


1 County: Manatee Program is available countywide.

Income Limitations:

Yes, based on Qualifying (1003) Income Income limits from HUD 2022 150% AMI guidelines 150% of HUD median income of $90,400. Do not include the income of a co-signer when determining program eligibility. Freddie Mac Income Limit at or below 80% AMI: $72,320.

Maximum Assistance

5% of Total Loan Amount 3, 4 or 5% non repayable grant.

Education Requirements Info:

Any party on the Note must complete a program-approved pre-purchase homebuyer education course even if a Veteran or purchasing in a Targeted area. Face-to-Face homebuyer education provided by a HUD approved counseling agency, a unit of local government providing pre-purchase homebuyer education in FL, or a counseling agency designated by a unit of local government. Homebuyer education over the p hone or by the lender is NOT acceptable. Approved Face-to-Face Homebuyer Education providers: http://www.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:

HH1-8 $135,600 *Income limits as of 06/05/2023

Qualifying Ratios:

Housing Ratio: — Total DTI: Up To 50% • The program maximum DTI ratio is 45% for with a minimum 640-679 FICO. • The program maximum DTI ratio is 50% with a minimum 680+ FICO. • Lenders must comply with Mortgage Insurance DTI requirements which may limit the maximum DTI for borrowers.
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