Homebuyers Resource
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Homebuyer Programs
Offering Affordable Mortgage Products
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30-Year Fixed Rate Mortgage at
6.750%
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FHA/ VA/ USDA/ Conventional Loans
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No Discount Points
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Up to
$10,000 Down-Payment / Closing Cost Assistance
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Financing Mortgage Products
OCHFA does not lend money directly to consumers. The Authority uses approved, private lenders to qualify consumers and to make all mortgage loans. The Authority purchases closed loans that meet OCHFA requirements.

A first-time homebuyer who has NOT owned a home or co-signed a mortgage within the past 3 (three) years.
Qualifying consumers must be a first-time homebuyer, which is defined as a person(s) who has not had an ownership interest in a primary residence (whether individually or jointly) during the previous three years; and plan to occupy the home as their primary residence.
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Applicant(s) must have a minimum FICO mid-score GREATER than 640.
Consumers have the right to get a copy of their credit report and a list of everyone who has access to it; and are entitled to a free copy of their credit report, once every 12-months through AnnualCreditReport.com - it is the only Authorized source to get a free, annual credit report (not the score) under federal law.
Consumers are entitled to a free copy according to circumstances which includes: unemployment, welfare, fraud or if you've been denied credit due to something within your report.
The Fair Credit Reporting Act (FCRA) requires that, at the consumers request, each of the nationwide consumer reporting companies - Equifax, Experian, and TransUnion - to provide every 12-months a free copy of your credit report.
The FCRA promotes the accuracy and privacy of the information contained in the records of the nationwide consumer reporting companies.
The Federal Trade Commission (FTC), the nation's consumer protection agency, is responsible for implementing the Law of Fair Credit Report with regard to the consumer reporting company.
NOTE: For more information about free credit report, please visit: THE FEDERAL TRADE COMMISSION - Free Credit Reports.
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The maximum contracted home purchase price (contract sales price) CANNOT exceed the following limits and may be subject to the applicable FHA/ VA limits. |
Non-Targeted Areas |
Targeted Areas |
$ 481,176 |
$ 588,104 |
The applicants total household income CANNOT exceed the following
Household Size Max Income limits:
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Non-Targeted Areas |
Targeted Areas |
1-2 Person(s):
$ 87,800 |
1-2 Person(s):
$ 105,360 |
3 or more Persons:
$ 100,970 |
3 or more Persons:
$ 122,920 |
FHA, VA, or USDA (only)
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The property must serve as the first-time homebuyer’s principle residence, in either Orange, Lake, Osceola or Seminole County, and must include one of the following housing types:
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Eligible |
In-Eligible |
Single Family
Townhome/TownHouse
Condominium "Condo"
Duplex |
Mobile Home
Manufactured Home |
6.750%Fixed 30-Year Interest Rate
100% Financing available
No Intangible Taxes
No Doc Stamp Fees
Up to
$10,000 is available in Down-Payment Assistance (DPA) and/or Closing Costs Assistance.
NOTE: The DPA provided is an Interest Free (0%) loan, payable at the end of 30-years. If the home is sold, refinanced or the borrower fails to occupy the home as their primary residence prior to 30-years, repayment of the total DPA loan amount is required.
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REPAYMENT OF THE DOWN-PAYMENT ASSISTANCE (DPA) BORROWED:
- The DPA payment is deferred for 30-years. Borrower understands that Principal payments shall be deferred for the term of the loan, until the first to occur, of the followqing events:
- (a) Borrower sells, transfers or disposes of the property or home either voluntarily or involuntarily;
- (b) Borrower fails or ceases to occupy the home as a principal residence;
- (c) Borrower dies;
- (d) Borrower refinances the first mortgage loan, at which time the remaining principal balance is due;
- (e) A default occurs under the first (1st) mortgage or any prior mortgages; or
- (f) The DPA Note matures.
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A homebuyer interested in purchasing in Central Florida. You DO NOT have to be a first-time homebuyer to qualify for this Program.
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Applicant(s) must have a minimum FICO mid-score GREATER than 640.
Consumers have the right to get a copy of their credit report and a list of everyone who has access to it; and are entitled to a free copy of their credit report, once every 12-months through AnnualCreditReport.com - it is the only Authorized source to get a free, annual credit report (not the score) under federal law.
Consumers are entitled to a free copy according to circumstances which includes: unemployment, welfare, fraud or if you've been denied credit due to something within your report.
The Fair Credit Reporting Act (FCRA) requires that, at the consumers request, each of the nationwide consumer reporting companies - Equifax, Experian, and TransUnion - to provide every 12-months a free copy of your credit report.
The FCRA promotes the accuracy and privacy of the information contained in the records of the nationwide consumer reporting companies.
The Federal Trade Commission (FTC), the nation's consumer protection agency, is responsible for implementing the Law of Fair Credit Report with regard to the consumer reporting company.
NOTE: For more information about free credit report, please visit: THE FEDERAL TRADE COMMISSION - Free Credit Reports.
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The maximum contracted home purchase price (contract sales price) CANNOT exceed:
$ 588,104 |
The applicant(s) 1003 Loan Application income CANNOT exceed:
$ 122,920
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Conventional Loan (only)
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The property must serve as the homebuyer’s principle residence, in either Orange, Lake, Osceola or Seminole County, and must include one of the following housing types:
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Eligible |
In-Eligible |
Single Family
Townhome/TownHouse
Condominium "Condo" (two to four units) |
Duplex
Mobile Home
Manufactured Home |
Competetive Fixed 30-Year Interest Rate
Up to 105% Total Loan-To-Value
Higher income and purchase price limits
Lower monthly Private Mortgage Insurance costs
Up to $7,500 is available in Down-Payment Assistance (DPA) and/or Closing Costs Assistance.
NOTE: The DPA provided is an Interest Free (0%) loan, payable at the end of 30-years. If the home is sold, refinanced or the borrower fails to occupy the home as their primary residence prior to 30-years, repayment of the total loan amount is required.
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REPAYMENT OF THE DOWN-PAYMENT ASSISTANCE (DPA) BORROWED:
- The DPA payment is deferred for 30-years. Borrower understands that Principal payments shall be deferred for the term of the loan, until the first to occur, of the followqing events:
- (a) Borrower sells, transfers or disposes of the property or home either voluntarily or involuntarily;
- (b) Borrower fails or ceases to occupy the home as a principal residence;
- (c) Borrower dies;
- (d) Borrower refinances the first mortgage loan, at which time the remaining principal balance is due;
- (e) A default occurs under the first (1st) mortgage or any prior mortgages; or
- (f) The DPA Note matures.
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Other Down-Payment Assistance Programs
Down-payment assistance (second mortgage) may be available from county or local governments.
Target Areas
Areas designated by the Federal Government
Target Areas are neighborhoods that have historically been underserved in mortgage loan originations; and where more Homeownership is desired.
Buyers income limits and purchase price limits are higher.
Buyers do not need to qualify as first-time Homebuyers.
Buyers must occupy the home as a primary residence.
To check to see if a property's address is within a Targeted Area, follow this link to FFIEC Geocoding System (Federal Financial Instituions Examination Council's) website https://geomap.ffiec.gov/ffiecgeomap/ and input the property address.
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Below are the census tract numbers which identify targeted area within Orange, Lake, Osceola and Seminole Counties. |
Orange County
0104.00 | 0105.00 | 0116.00 | 0117.02 | 0120.00 | 0124.01 | 0135.03 | 0145.02 | 0145.03 |0150.01 | 0165.10 |0169.07 | 0185.00 | 0187.00
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Lake County
0305.03 |
Seminole County
0204.01 | 0205.00 | 0220.01 |
Osceola County
0419.00 | 0422.00 | 0432.01 |
How Do I Get Started
STEP 1:
Contact Frantz Dutes at 407-894-0014 or fdutes@ochfa.com.
STEP 2:
If it is determined that you meet eligibility requirements (income limits, credit score and other criterias), of any of OCHFA's mortgage products, OCHFA will refer you to an approved lender.
STEP 3:
Complete the Homebuyer Education Requirement.
STEP 4:
Once you have been determined to be eligible, an approved OCHFA lender will pre-qualify you and process the first mortgage and down payment assistance.