Housing Finance Authority (HFA) of Pinellas County – 2020A Home Key PLUS Second Mortgage

Special Alert

Income limit qualifications can vary based on program(s) selected and property location.

Maximum Purchase Price


Contact Info:

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


Income and Purchase price limits are the same as the 1st Home Key Bond loan. Lenders are responsible for ensuring income limits have been met. The income limits provided in the Coverage Area HH and Max price limits is for the higher Targeted limits. Not all borrowers are purchasing in Targeted areas. Freddie Mac income over 80% AMI requires standard PMI coverage rates. _________________________________________________________ **Brokers must be able to close loans in their own name in order to originate this program.**

Credit Score Requirements

Determined by first mortgage product or lender.

Deferred Payments?

Yes, for 30 years

Accepted First Mortgage Type:

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

Homeowners Education Class:


Is Forgivable?


3 Counties: Pasco, Pinellas, Polk Program is available statewide.

Income Limitations:

Yes, based on Compliance 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

$12,000 Pinellas County – $12,000 Pasco and Polk County – $8,000

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 $98,520$114,940 *Income limits as of 05/01/2023

Qualifying Ratios:

Determined by first mortgage product or lender.