Pinellas County HFA Advantage Conv- Median Income
Best For: First Time Homebuyers, Low Credit Scores
Conventional option for Pinellas County, FL residents making above 80% AMI seeking down payment help from the "Home Key Plus" program.
Program Description
The Pinellas County HFA offers a 30-year Conventional mortgage option for median income Pinellas, Polk, and Pasco County, FL residents with income greater than 80% AMI (Area Median Income) that can be paired with the "Home Key Plus 2nd Mortgage" Down Payment Assistance Program. The assistance can be used towards down payments and closing costs, and this Conventional option features higher income limits.
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Pinellas County HFA Advantage Conv- Median Income
Min. Credit Score
660
Min. Down Payment
3%
Max Loan Amount
No Limits
Qualification variables shown here are for 1-Unit Primary Residences, and loan amount ranges vary based on US County. Register Now to see if this loan program is a good fit for you, find your county limits, and find more options for purchasing a home.
Pros & Cons
- Higher income limits than the low income conventional option
- Available in all of Pinellas, Polk, and Pasco Counties
- Can be combined with "Home Key Plus" down payment assistance
- Higher mortgage insurance cost than the low income conventional option
- First-Time Home buyers
- Not available for second homes or investment properties
Program Availability
Pinellas County HFA Advantage Conv- Median Incomes are available in 1 state.
*Limited Availability: Eligible properties may be located anywhere within Pinellas, Polk, or Pasco Counties
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“The Pinellas County HFA Conventional median income option comes in handy when using one of their down payment assistance programs and your income exceeds the low income conventional program."
Occupancy & Property Types
Qualification factors for this program can vary based on how you intend to occupy the property and what type of property you are purchasing. By registering for a free account , you can check program limits for all property and occupancy types.
Occupancy Types
Available Property Types for Primary Residence
Income & Purchase Price Limits
Your Debt-to-Income Ratio (DTI), as well as purchase price and income limits, are important factors when qualifying for a home loan program. By registering for a free account , you can find the exact program limits for this program and others in your area and for your unique scenario.
Debt-to-Income Limit
45.00%
Purchase Price Limit
$349,525
Income Limit
$81,000 - $82,100
Annual Household (1-2) Income
Qualification variables shown here are for 1-Unit Primary Residences, and loan limit ranges vary based on US County. Amounts may be rounded. Exact amounts can be accessed by registering for a free account.
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Key Features
- Conventional option from Pinellas County HFA with higher income limits
- Can be combined with "Home Key Plus" down payment assistance
- Credit scores as low as 660 allowed
Additional Conditions
- Eligible properties may be located anywhere within Pinellas, Polk, and Pasco counties including St. Petersburg, FL.
Other Limitations
In some circumstances, there are specific requirements you must meet or homebuyer education courses you must attend in order to be eligible for the loan program.
No other program limitations
A Homebuyer Education Class is required for this loan program.
Class Name: eHomeAmerica Homebuyer Education or Other
All homebuyers are required to complete a HUD-approved education course. The education course can be obtained from any HUD-approved provider, and some of them provide an online course via eHomeAmerica.
Mortgage Insurance & Fees
Most mortgage programs require mortgage insurance when you are financing more than 80% of the purchase price or appraised value. Some programs may also have an associated funding fee, paid at the time of closing, or an annual fee. Learn all about the different fees here.
Required with less than 20% Down Payment
Type: Private Mortgage Insurance (PMI)This program requires Private Mortgage Insurance (PMI) if you are putting down less than 20% on the home you are purchasing or refinancing.
Type: No Funding Fee
This program does not have a funding fee.
Type: No Annual Fee
This program does not have an annual fee.
Estimated Closing Costs: 2.5%
These amounts are just an estimate. Your closing costs include things like loan origination fees, discount points, appraisal fees, title insurance, taxes, deed recording fees, and other charges.
Grants, Bonds & 2nd Mortgages
There are certain programs that can be combined with this Pinellas County HFA Conventional MI program to help cover all or a portion of your down payment and closing costs, or provide additional borrower benefits.
Pinellas County HFA Home Key Plus 2nd Mortgage
|Pinellas County HFA Conventional MIHome Key Plus Second Mortgage combines the Pinellas County HFA first mortgage with a second mortgage to cover down payment costs.
Max. Loan Amount
No Limits
Min. Credit Score
660
Min. Down Payment:
3% 0%
Similar Loan Programs
If you think this home loan program may be a good fit for you, you may also want to check out the following programs that share many similarities with the current program.
Pinellas County HFA Advantage Conv- Low Income
Best For: First Time Homebuyers, Low Credit Scores
Conventional option for low income Pinellas, Polk, Pasco County residents seeking down payment assistance from the "Home Key HFA Advantage" program.
TSAHC Conventional Purchase - Low Income
Best For: First Time Homebuyers, Low Credit Scores
Conventional option for low income Texas residents seeking down payment assistance, offered by the Texas State Affordable Housing Corporation (TSAHC).
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* Some loan programs may not be offered by all featured lenders of ReviewMyMortgage.com and qualification guidelines may vary between them. Our team makes their best effort to keep loan program information up to date. Loan programs may change without warning. ReviewMyMortgage.com does not guarantee or offer any loan products. ReviewMyMortgage.com is strictly an educational resource hub for consumers
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