Florida Housing Finance Corporation, Departmental

FLORIDA HOUSING FINANCE CORPORATION

NOTICE OF FUNDING AVAILABILITY

FLORIDA HOME OWNERSHIP ASSISTANCE PROGRAM

Pursuant to Section 420.5088, Florida Statutes, and Rule Chapter 67-45, Florida Administrative Code, the Florida Housing Finance Corporation (the “Corporation”) announces its intention to provide an approximate amount of $8,000,000 for qualified mortgage loans for homebuyer assistance under the Florida Home Ownership Assistance Program (HAP). These HAP funds are expected to be made available qualified persons in conjunction with the Corporation’s Single Family Mortgage Revenue Bond Program (SFMRB). Access to these funds will be made available through Participating Lenders that have been selected to originate first mortgages under the Corporation’s SFMRB Program through an application process. Participating lending institutions will make loans using HAP funds available on a first-come, first-served basis to eligible first-time home buyers qualifying for a first mortgage under the Corporation’s SFMRB Program. Applications for such loans may be obtained from the participating lending institutions.

Any home mortgage lending institution that is a qualified FHA–approved mortgagee (with direct endorsement underwriting authority preferred), or a VA-approved lender (with automatic approval authority preferred), or an USDA/RD approved lender (unless waived by the Servicer), or with respect to Conventional Mortgage loans, is a Fannie Mae and/or Freddie Mac approved lender in good standing, has errors and omissions coverage of at least $300,000, meets the requirements of the Servicer and Florida Housing with respect to financial status and is acceptable to a Fannie Mae and/or Freddie Mac PMI Insurer, that is interested in receiving an Invitation and Application to Participate in the program should contact the Corporation by telephone at [phone], by Facsimile [phone], or in writing: 227 North Bronough Street, Suite 5000, Tallahassee, Florida 32301-1329. Any questions or concerns regarding the availability of HAP funds or requests for more information and/or a list of participating lending institutions should be directed Frances Pheeny, Single Family Programs Administrator at [phone].