St. Lucie County Home Purchase Assistance Program (Unincorporated Areas)

Special Alert

Program limited to unincorporated areas of St. Lucie County.

Maximum Purchase Price

$238,000

Contact Info:

https://www.stlucieco.gov/departments-and-services/community-services/housing 437 N. 7th Street, Fort Pierce, FL 34950 772-462-1777 Option 3

Limitations

Homes eligible for purchase through the program must be located in unincorporated St. Lucie County. For more information on whether a property is in an unincorporated area, please consult your real estate agent or contact the property appraisers office. Once a completed application has been submitted processing can take up to 30-45 days. Incomplete applications will not be accepted and will be returned to the applicant.

Credit Score Requirements

The purchase assistance program does not require a minimum credit score. However, in order to obtain a lender pre-approval you must meet the minimum credit score criteria for the lender and loan product.

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, VA, USDA / RD

Homeowners Education Class:

Required

Is Forgivable?

Location:

1 County: St. Lucie Homes eligible for purchase through the program must be located in unincorporated St. Lucie County. For more information on whether a property is in an unincorporated area, please consult your real estate agent or contact the property appraisers office.

Income Limitations:

Yes, based on Compliance Income (including household income) Income limits from HUD 2022 80% AMI guidelines Income cannot exceed 80% AMI. Households must have a gross yearly income of at least $35,000 in order to apply. Income from all sources is considered when determining income eligibility. Income limits change annually.

Maximum Assistance

The amount of assistance will be based on how much funding is needed to make the monthly payment affordable. At the time program funding is announced, details on the maximum amount of assistance per household will be provided.

Education Requirements Info:

A certificate from a Home Buyer Education Workshop. Home Buyer Education must be provided by a HUD Certified Housing Counseling Agency and be a minimum of 6 hours. You will receive a certificate of completion upon completing the education. You must submit a copy of the certificate of completion with your application. Find a HUD Approved provider here: https://hudgov-answers.force.com/housingcounseling/s/

Eligible Property Types:

Single Family Detached Condo Co-Op Townhome/PUD

Income By Household Size:

$500 An applicant is required to contribute at least $500 out of pocket towards the purchase of their home. Additional funds may be required to close.

Qualifying Ratios:

Housing Ratio: Up To 30% Total DTI: β€” Determined by first mortgage product or lender. Affordable is considered to be no more than 30% of the households gross monthly income going towards housing expenses. In the case of homeownership, this would be the principal, interest, taxes, insurance, and in some cases HOA fees.

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