Frequently Asked Questions (FAQs)

What is the HFA?

The HFA is the Housing Finance Authority of Pinellas County (the HFA) an agency that helps families and individuals in Pinellas, Pasco and Polk counties purchase their first home . The HFA's mission is simple: to assure that financing for affordable housing remains available to the residents of Pinellas County . The organization was created by the Board of County Commissioners in 1982 and has issued over $1 Billion in bonds.

How Can the HFA help me buy a home?

HFA's First Time Homebuyer brochure guides you through three steps to make homeownership attainable and affordable. (1) Free homebuyer education classes can help you learn more about the awesome responsibility of owning a home. (2) A participating lender can discusss which program is most suitable for your particular situation. They can also give you a pre-approval so you will know how much mortgage you can afford. (3) HFA's below market mortgage rates will help income eligible persons qualify for a loan.

Do you offer down payment assistance?

Two program are available to assist with downpayment and closing costs. Both are 0 interest loans that are deferred for 5 years. Making Pinellas Home is a down payment assistance program that offers up to $15,000 in downpayment assistance for persons who purchase their home in Pinellas County. The Home Town Heroes Plus is a special program that offers up to $25,000 to certain health, public safety, school and military personnel who purchase their homes in Pinellas County.

Do I have to be a First Time Homebuyer to use this program?

Yes, you must be a first time homebuyer, which means that you or your spouse cannot have owned a home in the last three (3) years and you must plan to live in the home. Also, there are income and purchase price limits that must be met depending on the program.

But, if you purchase your home in a Target Area, there are advantages. (1) You do not have to be a First Time Homebuyer and (2) income and purchase price limits are higher, making this an affordable option for persons who may not meet income limits for other homebuyer programs.

What is a Target Area?

Target areas are census tracts that meet federal guidelines for economically distressed areas. New homes and newly renovated homes has often resulted in the revitalization of these areas.

Do I have to take an education class?

Homebuyer education classes are no longer required. However, the HFA encourages all First Time Homebuyers to take advantage of these FREE classes. These classes will answer many questions that you have about the home buying process. What do realtors do for you, what services do they provide? Which type of mortgage is right for your situation? What does it mean to pre-qualify for a mortgage? What are the major expenses you should plan on once you are a homeowner? These classes will also provide you with information to maintain your home and avoid losing it to foreclosure.

How do I apply for the First Time Homebuyers Program?

Contact one of the participating lenders. Your lender will qualify you for the program and take you through the entire home buying process. Click here for a list of participating lenders .

Can I purchase a condominium with the First Time Homebuyer Program?

Yes, condominiums are acceptable. Check with a participating lender for more details.

Can I refinance my home using the First Time Homebuyer Program?

No, the program is for First Time Homebuyers only.

Are County funds used to fund the First Time Homebuyers Program?

No.

How Can I find out about other housing programs offered in Pinellas County?

For more information on purchasing or renovating your home contact the Pinellas County Community Development Department call 464-8210.