Martin County HOME Down Payment Assistance Program

Special Alert

Maximum Purchase Price

$301,000

Contact Info:

https://www.martin.fl.us 2401 SE Monerey Road, Stuart, FL 34996 772-288-5400

Limitations

Credit Score Requirements

Based on 1st mortgage requirements.

Deferred Payments?

Yes

Accepted First Mortgage Type:

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

Homeowners Education Class:

Required

Is Forgivable?

No Annual Forgiveness.

Location:

1 County: Martin Property must be located within the unincorporated areas of Martin County.

Income Limitations:

Yes, based on Compliance Income (including household income) Income limits from HUD 2022 80% AMI guidelines Cannot exceed 80% Area Median Income (AMI). Income for all household members 18+ years old for next 12 months must be declared and verified.

Maximum Assistance

$50,000 The county presently provides up to $50,000 in assistance.

Education Requirements Info:

https://hudgov-answers.force.com/housingcounseling/s/

Eligible Property Types:

Single Family Detached Condo Townhome/PUD

Income By Household Size:

HH1HH2HH3HH4HH5HH6HH7HH8 $44,800$51,200$57,600$64,000$69,150$74,250$79,400$84,500 *Income limits as of 05/17/2023

Qualifying Ratios:

Determined by first mortgage product or lender.

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