Escambia County Housing Finance Authority Homeownership Program

What is Escambia County Housing Finance Authority Homeownership Program?

Escambia County Housing Finance Authority Homeownership Program is a deferred second loan for homebuyers in Escambia County, Florida.

• Escambia County HFA (ECHFA) offers a Classic DPA Program: a 30-year deferred, non-interest-bearing second mortgage up to $10,000 for down payment and closing costs, paired with a 30-year fixed first mortgage (Governmental or Freddie Mac HFA Advantage conventional option). Serves Escambia and 20 additional Florida counties (21 total). First-time homebuyer requirement is waived for honorably discharged veterans (38 U.S.C. 101) and for buyers in designated targeted areas.
• Funding comes from State.

How much assistance does it provide?

Escambia County Housing Finance Authority Homeownership Program offers up to $10,000 in assistance.

• Amounts are the program's published maximums, not an offer — the administering agency determines any individual award.

Do you have to pay it back?

Escambia County Housing Finance Authority Homeownership Program is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off.

• Repayment is triggered by Sale, Refinance, and Transfer of Title.
• The assistance is recorded in 2nd Lien position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Escambia County Housing Finance Authority Homeownership Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

Escambia County Housing Finance Authority Homeownership Program limits household income to 115% of the area median income, which varies by county and household size.

• Income limits vary by household size. Generally up to 80%-120% AMI.
• Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

Escambia County Housing Finance Authority Homeownership Program can be used for Single Family, Condo, and Townhouse.

Is there eligibility for specific groups?

Escambia County Housing Finance Authority Homeownership Program names veterans among the groups it serves.

• Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

Where does it apply?

Escambia County Housing Finance Authority Homeownership Program serves buyers purchasing in Escambia County, Florida.

How do you apply?

Applications for Escambia County Housing Finance Authority Homeownership Program go through the administering agency, which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program before funds are reserved.

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved with the provider and are subject to availability.

3. 3

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.