Pinellas County HFA Home Key Plus 2nd Mortgage
Best For: First Time Homebuyers, Low Credit Scores, Zero Down
Home Key Plus Second Mortgage combines the Pinellas County HFA first mortgage with a second mortgage to cover down payment costs.
Program Description
Pinellas County HFA combines two mortgages together to cover the cost of your down payment, and can also cover part of the closing costs for eligible borrowers.
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Pinellas County HFA Home Key Plus 2nd Mortgage
Min. Credit Score
660
Min. Down Payment
3.5%
Max Loan Amount
-$1
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.
Program Benefits
Benefit type: Up to $12,000 in Assistance
Type: Deferred Payment Standard 2nd Mortgage Program - Repayable
This is a 30 year deferred, 0% second mortgage in an amount up to $8,000-12,000 in assistance, variable by county, that may be used for closing costs and down payment assistance.
First Mortgage Program Option
This program can be used in tandem with the following first mortgage programs in order to help fulfill down payment requirements, pay closing costs, or provide other benefits. Learn all about how grants, bonds & 2nd mortgages work here.
- Pinellas County HFA Advantage Conv- Median Income
- Pinellas County HFA Advantage Conv- Low Income
- Pinellas County HFA HOME KEY USDA-RD Loan Program
- Pinellas County HFA HOME KEY VA Loan Program
- Pinellas County HFA FHA Loan Program
Pros & Cons
- Allows for 100% financing for eligible home buyers
- Available in all of Pinellas, Polk, and Pasco Counties
- Income limits apply (varies by county of property)
- Deferred, never forgiven
Program Availability
Pinellas County HFA Home Key Plus 2nd Mortgages are available in 1 state.
*Limited Availability: Eligible properties may be located anywhere within Pinellas, Polk, or Pasco Counties.
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“This program is great for first time homebuyers near St. Petersburg, FL., who are in need of assistance and qualify for Pinellas County HFA first mortgage programs with a 660 credit score or higher. Funds can be used for down payment or closing cost."
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
- Second mortgage of $8,000-$12,000
- Assistance may be used for down payment and closing costs
Additional Conditions
- Borrower(s) must be a first-time homebuyer(s) and occupy property as primary residence.
- Must be combined with a Pinellas County first mortgage program.
- Pinellas County offers up to $12,000 in assistance. Polk and Pasco counties offer up to $8,000 in assistance.
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: Homebuyer Education Course
First-time homebuyers are required to complete a HUD-approved education course. The education course can be obtained from any HUD-approved provider online typically though eHomeAmerica or face-to-face.
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.
No Mortgage Insurance
This program does not require Private Mortgage Insurance (PMI).
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% 0%
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.
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.
Virginia Housing Down Payment Grant - FHA
Best For: First Time Homebuyers, Zero Down
Virginia Housing's Down Payment Assistance (DPA) grant provides qualified first time homebuyers with up to 2.5% of the purchase price or value.
Nevada Housing Home is Possible Teacher 2nd Mtg
Best For: First Time Homebuyers, Zero Down
Nevada Housing HIP Teacher 2nd Mortgage
Related Resources
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Read MoreVisit our Mortgage Education Center for more resources.
* 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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