First time home buyers programs


The Program

Buying a home can be affordable.

Thanks to a special partnership between

the Housing Finance Authority of Escambia

County and the Okaloosa

County Board of County Commissioners,

this program is designed to make

purchasing a home more affordable for

low and moderate income homebuyers

by providing first-time homebuyers with

below-market interest rate mortgage

loans. Mortgage loans in this program

are available on a first-come, first-serve


453099_174558.jpg Who Qualifies?

Borrowers must be first-time homebuyers

who have not had a present

ownership interest in their principal

residence during the last three years.

*Qualified Veterans who received an

honorable discharge do not have to be

first-time buyers. Please consult with a

participating lender for details.

Borrowers must meet normal mortgage

requirements which demonstrate

credit worthiness.

Borrowers must occupy the purchased

home as their principal residence.

Household income may not exceed

the following limits within Okaloosa


galliver.jpg What Homes Qualify?

The single family home may be attached

or detached, a condo, certain manufactured

homes or PUD. Homes must be

located within one of the counties listed

on the front of this brochure. The total

purchase price of a home within Okaloosa

County may not exceed the following


bannerlogo2.jpg The Mortgage

The homebuyer may choose between a

Conventional, FHA-insured, VAguaranteed,

or USDA-RD 30-year fixed

rate mortgage.

Okaloosa COunty What is a Targeted Area?

Targeted areas are neighborhoods that

have historically been underserved in

mortgage loan origination. In targeted areas,

you do not need to be a first-time

homebuyer, and there are higher income

and purchase price limits. Please consult

a participating lender.

defuniakspringsconservation.jpg Assistance is Available

The Authority offers down payment

assistance in all participating counties.

Amortizing Second Mortgage Program:

This second mortgage provides down

payment & closing cost assistance for up

to $7,000 at 0% amortized over 10 years.

Income limits and purchase price limits

are the maximum available under the Program.







5.39% 0.50% 1.00%

Family of


$62,600 N/A

Family of 3

or more:



Non-Target Areas Target Areas

New &





Non-Target Areas Target Areas

Escambia County

Housing Finance Authority

The Escambia County Housing Finance

Authority was created in 1980 by the

Escambia County Board of County

Commissioners to help alleviate a shortage

of affordable housing. The Authority

is a special district in the State of Florida

under Florida Statues, Chapter 159, Part



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