Florida Assist 2nd Mtg (FL Assist) -$10,000 for all loans -0%, non-amortizing, deferred. -Carries no monthly payment. -The FL Assist is not forgivable FINANCING WITH FHA, CONVENTIONAL, VA, or USDA Borrower Eligibility- -All borrowers are restricted to a one-time participation in FL Housing’s Homebuyer Loan Program. This includes all first and second mortgage programs. -Owner-Occupied, Principal residences only -Restricted to First-Time Homebuyers - unless meeting one of the exceptions. (Contact us for Exceptions details) -Homebuyer counseling required for all Borrowers and Co-Borrowers (See Approved List of Homebuyer's Education List) -Co-Signors or non-Occupant co-borrowers are NOT permitted -Borrower may not own any other residential dwelling at time of closing -Borrower must occupy the property within sixty (60) days of settlement date -Eligibility – Non-US Citizens Applicants must be considered irrespective of age, race, color, religion, national origin DTI Maximum not to exceed 50.00%, regardless of AUS recommendation -Credit Credit Score Requirements: All products require that 3 credit scores are requested, however if less than 3 scores are returned and the AUS returns valid findings, and the UW determines the scores to be valid scores with sufficient trade lines & minimum of 12 MR, it would be acceptable. Applicants with no credit history, and therefore no score, are not eligible for financing. Applicants with no score due to collections and other limited accounts which are derogatory are not eligible. Non-traditional credit is not permitted. -Minimum credit score required is 640 for FHA/USDA -Credit score requirements may vary depending on DPA program requirements -Non-traditional credit not allowed -Private Party VOM/VOR as a stand-alone document is not permitted -All credit documents must be no more than 90 days old at the time of closing All judgments, regardless of the balance must be paid in full prior to or at closing Any Borrower or spouse who will hold title with unpaid, unsatisfied, and/or unreleased federal or state tax liens are not permitted under the Program. Loan files with repayment plans for an established lien are also not acceptable. All liens must be satisfied and evidence to support the release included in the loan file. Unpaid state or federal taxes that have been set up on a repayment plan but have not had a lien assessed, will be treated as reoccurring debt and may be considered for inclusion into the Program provided the Borrower(s) supply evidence of the repayment plan, reflecting no 30-day late payments on the repayment history, and the inclusion of the recurring debt does not cause their Debt-to-Income (DTI) ratio to exceed 45.00 percent.