Orange County Housing Finance Authority (OCHFA) – Central Florida Homebuyer’s Dream Program (Government)

Special Alert

Maximum Purchase Price


Contact Info:

Local HFA


Manual Underwriting is not permitted with FHA financing. For the Veterans Exception, “veteran” is defined as “a person who served in the active military, naval, or air service, and who was discharged or released therefrom under conditions other than dishonorable.” The Mortgagor Affidavit has a checkbox that states: “Mortgagor(Co-mortgagor) meets the requirements to qualify as a “veteran” as defined in 38 U.S.C. Section 101 and has not previously obtained a loan financed by single family mortgage revenue bonds utilizing the exception to the first-time homebuyer requirement for Residences to Veterans under Section 143(d)(2)(D). Attached hereto are true and correct copies of my discharge or release papers, which demonstrate that such discharge or release was other than dishonorable. Form DD214 will be used to document compliance, submit with the eHP Compliance File post-closing. Recapture Tax – The conditions of repayment of the federal subsidy of these loans is explained in a separate brochure provided within the eHP Portal with the Program Forms. Basically, if the property is disposed of in the first full nine years AND a net profit is made AND the borrowers income exceeds the income limits allowed at time of sale, recapture tax may have to be paid with the federal income tax return for the year in which the home is sold.

Credit Score Requirements

Minimum Credit Score: 640

Deferred Payments?

Accepted First Mortgage Type:

FHA 203(b), VA, USDA / RD

Homeowners Education Class:


Is Forgivable?


4 Counties: Lake, Orange, Osceola, Seminole Includes all of Lake, Orange, Osceola and Seminole counties.

Income Limitations:

Yes, based on Compliance Income (including household income) Income limits from Agency-defined 2022 guidelines Must calculate employer income and all other sources of income. All income must be included unless it is listed as excluded in the guide. The income of the Cosigner is not required to be considered when determining income limit eligibility for the purposes of the program. Evidence must be provided to show the borrower has sufficient income to make the monthly mortgage payment.

Maximum Assistance

Education Requirements Info:

First-Time Homebuyers, unless qualifying under a Veteran’s Exception or those who are exempt by purchasing a home in a Federally Designated Targeted Area as specified in the this Program Guide, must complete a Program-approved pre-purchase homebuyer education course. Acceptable forms of education are: face-to-face homebuyer education if provided by a HUD approved counseling agency, a unit of local government that provides pre-purchase homebuyer education in FL, or a counseling agency designated by a unit of local government to provide homebuyer education on their behalf. Refer to www.hud.govfor a list of approved education providers by county. Online HBE is permitted if provided by a HUD approved agency, a unit of local government that provides pre-purchase homebuyer education in FL, a mortgage insurance provider, or an Agency or GSE sponsored course. Homebuyer education provided over the phone or by the lender is NOT acceptable. Certificates of completion are acceptable for 2 years from the date of completion. Face to face from a HUD-approved education provider –

Eligible Property Types:

Single Family Detached Condo Townhome/PUD

Income By Household Size:

HH1-2HH3-8 $82,900$95,335 *Income limits as of 05/15/2023

Qualifying Ratios:

Housing Ratio: — Total DTI: Up To 50% • The program maximum DTI ratio is 45% for FHA, VA, USDA-RD loans with a minimum 640 FICO. • The program maximum DTI ratio is 50% for FHA 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.