Are you a First-Time Homebuyer in Florida and need down payment assistance? We may be able to assist you at www.escambiahfa.com or (800) 388-1970.
The Escambia County Housing Finance Authority (ECHFA) serves 16 counties across Florida by offering homeownership programs to first-time homebuyers and former homeowners in an effort to alleviate out-of-pocket expenses associated with purchasing a home. ECHFA also economically assists developers of multi-family housing communities through the issuance of tax-exempt revenue bonds.
Participating Counties are Alachua, Bay, Bradford, Escambia, Gadsden, Jackson, Jefferson, Indian River, Leon, Marion, Martin, Okaloosa, Santa Rosa, St. Lucie, Wakulla and Walton.
The mission of ECHFA is to help alleviate the shortage of affordable homes available to persons of moderate, middle and low income, which will provide them with safe, sanitary and decent housing; and to assist in making capital available for the financing of construction, purchase, reconstruction or rehabilitation of such homes for such persons at interest rates which they can afford.
DOWN PAYMENT ASSISTANCE:
0% Non-Amortizing 30-Year Deferred Second Mortgage: The second mortgage provides up to $7,500 and can only be used with an Escambia County HFA First Mortgage (Governmental or Conventional Loan Program). Lenders may charge a Discount/Origination Fee not to exceed 1% of the principal loan amount. (Second Mortgage is not forgivable and becomes due when first mortgage is satisfied or upon sale, transfer, rental or disposition of property.)
