Making Pinellas Home
Down Payment Assistance Program
Information Statement

This program is made available in cooperation with and funded by local governments. The purpose of the MAKING PINELLAS HOME Program is to supplement mortgage funds provided by the Housing Finance Authority’s (the “Authority”) Home Key Programs. The program provides 15 year, no interest, second or third mortgage loans of up to $15,000. Repayment is deferred for five years. These loans are available only in conjunction with the Authority’s Home Key loan products. Properties may be located anywhere in Pinellas County.

ELIGIBLE PROPERTIES
Eligible housing includes single-family detached houses, townhouses, villas, cooperatives, and condominiums. Mobile homes are not eligible; however, funds can be used to purchase leasehold in a resident-owned community. The home must serve as the applicant's primary residence; rental properties, vacation homes, and second homes are not eligible.

ELIGIBLE APPLICANTS
Applicants must meet the income guidelines. Eligibility is determined by household size. Household income is defined as all income from all household members including employment income, interest income, social security, dividends, pensions, alimony, and child support.

Purchasers buying anywhere in Pinellas County qualify if total household income is at or below the amounts given in the "Area Wide" row. Purchasers with income limits in the "Target Areas" row qualify if buying a home in selected Target Areas. Target Area maps are available online or by contacting the Authority. With the exception of new construction, home inspections are required under this program.

OTHER TERMS
Loan funds can be used to pay closing costs that do not exceed three percent (3%) of the purchase price. Total cumulative loan to value cannot exceed 107%, including this mortgage. Loans are not assumable. Outstanding balances are due and payable if the borrower sells, rents, leases or otherwise vacates the residence. Processing guidelines are determined by participating lenders . It is not practical to list all possible requirements and terms in this abbreviated format. Interested residents should contact a participating lender in the Housing Finance Authority’s Home Key Program about program requirements or processing.

Housing Finance Authority of Pinellas County
600 Cleveland Street, Suite 800
Clearwater, FL 33755
Phone (727) 464-8210

Term Sheet