FIRST HOME 4 U

ELIGIBILITY CRITERIA

1. First-time Homebuyers -All borrower(s)and spouses (occupant or non-occupant)

2. Must be able to permanently​ reside in the U.S.

3. Must be the principal residence

4. Borrower(s) must occupy property within 60 days of closing

5. IRS-filed transcripts for the past three years of all borrower(s)and spouses

DOWN PAYMENT ASSISTANCE (DPA)

DPA is available, see rates. Must be used for down payment and closing cost (no cash back). 
There are two options for down payment assistance:

1. Low Rate First Mortgage and up to $10,000 of DPA as 0%, 30-year deferred second
2. Assisted Rate First Mortgage with a 3% DPA grant

INCOME LIMIT CRITERIA

Non-Targeted Areas:

2 or Fewer Persons:$81,720
3 or More Persons: $95,340

Targeted Areas:

2 or Fewer Persons:$81,720
3 or More Persons: $95,340

HOME ACQUISITION LIMITS

Non-Targeted Areas:
$391,153

Targeted Areas:
$437,179

HOME BUYER EDUCATIONNot RequiredFICO SCORE REQUIREMENTMinimum credit score of 640, 45% Debt-to-Income (DTI) ratioCO-SIGNERSCo-signers are permitted for FHA Loans, but cannot be named on the Warranty Deed.

Lenders

Prospective borrowers: Click here for approved lenders' contact information.

Prospective lenders: All lenders must be approved first by U.S. Bank if they want to participate in the Broward County Housing Finance Authority Second Mortgage Loan Program.

 Click here for Lender Participation Instructions. ​​