Housing Finance Authority (HFA) of Pinellas County – 2020A Home Key Bond Program (Multi-County)

Special Alert

Maximum Purchase Price


Contact Info:

http://www.pinellascounty.org/hfa 26750 US Hwy 19 N #110, Clearwater, FL 33761 727-223-6419


Freddie Mac over 80% AMI requires Standard PMI coverage rates. _________________________________________________________ Household COMPLIANCE income considered for ALL borrower(s) and spouse and any person who will live in the household who is 18 years of age or older. _________________________________________________________ Manual Underwriting not permitted with FHA financing. Must meet agency, insurer and master servicer guidelines. Must be a first-time homebuyer. Must secure first mortgage through a participating lender. New or existing, attached or detached, one-unit, town-homes, PUD’s and condos are allowable in the program. Manufactured homes, mobile, recreational, seasonal or other types of vacation or non-permanent homes are not permitted. **Brokers must be able to close loans in their own name in order to originate this program.

Credit Score Requirements

Minimum Credit Score: 660

Deferred Payments?

Accepted First Mortgage Type:

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

Homeowners Education Class:


Is Forgivable?


3 Counties: Pasco, Pinellas, Polk Includes all of Pinellas, Pasco and Polk Counties.

Income Limitations:

Yes, based on Compliance Income (including household income) Income limits from HUD 2022 guidelines Freddie Mac/FHA/VA/USDA – 115+ AMI. Underwriters should remember that CALCULATION OF PROGRAM (COMPLIANCE) INCOME IS DIFFERENT THAN CALCULATION OF INCOME FOR CREDIT PURPOSES. The Bond program requires that underwriters consider the income of borrowers and their spouses (regardless of their address) and all household members 18 years of age or older(related or unrelated). See program guidelines for Compliance Income Calculation requirements: https://www.ehousingplus.com/available-programs/florida/pinellas/

Maximum Assistance

Education Requirements Info:

Borrowers who have owned homes in the last three years are exempt from the homebuyer education classes. All other Borrowers who have not been homeowners in the last three years are not exempt even if purchasing in targeted areas or using the Veteran’s Exception. They must attend homebuyer education 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.

Eligible Property Types:

Single Family Detached Condo Townhome/PUD Modular Home

Income By Household Size:

HH1-2HH3-8 $82,100$94,115 *Income limits as of 05/01/2023

Qualifying Ratios:

Housing Ratio: — Total DTI: Up To 50% The program maximum DTI ratio is 45% for all loan products with 660 – 679 FICO. The program maximum DTI ratio is 50% for all loan products with a 680+ FICO.
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