NOTICE OF FUNDING AVAILABILITY
FLORIDA HOME OWNERSHIP ASSISTANCE PROGRAM/DOWN PAYMENT ASSISTANCE (HAP D/P) LOAN 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 up to $5,000,000 for qualified mortgage loans for down payment and closing costs assistance under the Florida Home Ownership Assistance Program/Down Payment Assistance (HAP D/P) Loan Program. These HAP D/P Loans are expected to be made available to low-income persons in conjunction with the Corporations Single Family Mortgage Revenue Bond (SFMRB) Program. Such loans will be in the form of zero percent interest, non-amortizing deferred second mortgage loan financing for owner-occupied residences in any county in the State of
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 (850)488-4197, by facsimile (850)922-7253, or in writing 227 North Bronough Street, Suite 5000, Tallahassee, Florida 32301-1329. Any questions or concerns regarding the availability of HAP D/P funds or requests for more information and/or a list of participating lending institutions should be directed to: Keantha Belton, Single Family Bonds Program Manager, (850)488-4197.