HFA 20092010 First-Time Homebuyer Home Key 1st Mortgage by mcy15867


									HFA 2009/2010 First-Time Homebuyer Home Key 1st Mortgage
The Housing Finance Authority of Pinellas County is pleased to announce its
2009/2010 First-Time Homebuyer Program. The new program could be your
key to achieving the American dream. If you have never owned a home,
have not owned a home in the past three years, or are a Veteran, now is the
time to buy. Let Pinellas County help you make your dreams come true with
the First-Time Homebuyer Program. Current interest rate is 5.175%. Up to
$6,500 in down payment and closing cost assistance at 0% interest is also
available. This is a limited time offer. Call (727) 464-8210 to start making
your dreams come true.

Eligible Properties
Single-family detached houses, townhouses, villas and condominiums are
eligible types of housing. The home must serve as the primary residence.
Rental properties, vacation homes, second homes and mobile homes are not
eligible. Maximum purchase price is $258,690. Federal Designated Target
Area maximum purchase price is $316,177. You do not need to be a First-
Time Home Buyer to purchase in a Target Area.

Eligible Applicants
Income levels are shown in the chart below. Household income is defined as
all income, including asset income, from all household members 18 and

       Non-Targeted Areas                          Targeted Areas
 1 or 2 Family  3 or More Family        1 or 2 Family   3 or More Family
   Members          Members               Members           members
    $59,200          $68,080               $71,040           $82,880

                      Down Payment Assistance
In addition to the first mortgage, we can help you with down payment
assistance and closing costs through our HOME KEY PLUS 2 MORTGAGE
PROGRAM. Up to $6500 is available for down payment and closing costs for
use with the Home Key 1 mortgage loan. There is no interest rate for the
HOME KEY PLUS 2 MORTGAGE PROGRAM and payments are deferred until you
sell, transfer, or refinance the property. Income and maximum purchase
price limits are the same as the limits for non-targeted area Home Key 1st
Mortgage Loans.
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