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MISSION OF THE ESCAMBIA COUNTY HOUSING FINANCE AUTHORITY

 

The mission of Escambia County Housing Finance Authority (“Authority”, “Escambia HFA” or “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.

 

 URBAN INFILL PROGRAM OVERVIEW

 

The ECHFA targets development or redevelopment of vacant urban “infill” properties with affordable housing for sale to and occupancy by low to moderate income persons/families (based on Authority income limits*) in Escambia County and the City of Pensacola. The maximum sales/purchase price allowed under the initiative is $189,000, with the actual sales/purchase price controlled by appraised value.  Homebuyers are encouraged to utilize the local Escambia HFA and/or SHIP Homebuyers Program for first and second mortgage (down payment assistance) financing for the purchase of these homes.

 

PROGRAM HIGHLIGHTS

ECHFA currently offers FHA-insured, VA-guaranteed or USDA-RD 30-Year Fixed Rate Mortgages using our 5.00%* Mortgage with a 0%, non-amortizing 30-year Deferred Second Mortgage up to $7,500*.  Discount/Origination Fee or any combination shall not exceed 1% of the principal loan amount.  ECHFA offers a NEW Freddie Mac-insured Conventional 30-Year Fixed Rate Mortgage using our Freddie Mac HFA Advantage (Conventional) Program Option 5.25%* Mortgage with a 0%, non-amortizing 30-year Deferred Second Mortgage up to $7,500.  Origination Fee shall not exceed 1% of the principal loan amount.  Effective July 1, 2018, the first and second mortgages are exempt from documentary stamps tax.

 

MORTGAGE CREDIT CERTIFICATE PROGRAM

A mortgage credit certificate ("MCC") is available in connection with any not to exceed 30 year, fixed rate mortgage loan such as ECHFA's 2012 Single Family (Governmental) Program or Freddie Mac HFA Advantage (Conventional) Program Options.  A MCC is a Federal Tax Credit (not to exceed $2,000 per year) available each year that the borrower continues to live in the home financed under the Program.  Click MCC for more details.

 

You can download an Escambia County Urban Infill Brochure.

 

*ECHFA Income Limits:

2012 Single Family (Govermental) Program Option:

Family of 1-2: $65,200 (Non-Target Areas) - $74,980 (Target Areas)

Family of 3 or more: $78,240 (Non-Target Areas) - $91,280 (Target Areas

 

Freddie Mac HFA Advantage (Conventional) Program Option:

Family of 1-2:  $78,240

Family of 3 or more:  $91,280

 

*Participating Lenders will provide specific APR information as required by law. Mortgage Rate/APR and DPA amount may be reset periodically based on market conditions.  The Issuer reserves the right to modify terms of the Program at any time.

 

For more information call us at 800-388-1970 or 850-432-7077.

 

Escambia – Pensacola SHIP/Home Income Limits:

For more information regarding the City of Pensacola/Escambia County SHIP First Time Homebuyer Program Requirements, please visit their website for details.

 

PARTICIPATING  BUILDERS & AVAILABLE PROPERTIES

(Escambia County Only)

 

Bennat, Inc.   (850) 232-1267

 

Blue Water Signature Homes, Inc.  (850) 450-4656

   Home(s) for Sale:

  SOLD:

   301 Dwight Avenue

309 South 1st Street

   1211B East Scott Street

   535 South 2nd Street

   537 South 2nd Street

   312 East Palmetto Avenue

   316 East Palmetto Avenue

   317 South A Street 

   11 Broadmoor Street

   13 Sullivan Road

 

Charter Development Corp.  (850) 393-9408

   Home(s) for Sale:  418 West Gadsden Street

2210A North Tarragona Street


Community Action Program Committee, Inc. (850) 679-4817

    Home(s) for Sale:  

SOLD:  1192 Heathrow Drive

 

Community Enterprise Investments, Inc. (850) 595-6234

   Home(s) for Sale:  

    SOLD:

       404 East Lloyd Street

 

Handipro-Kleen Services, Inc. (aka: HKS, Inc.)  (850) 206-0962

   Home(s) for Sale:  416 West Jackson Street

 SOLD: 

      415 West Jackson Street

      417 West Jackson Street

      508 North A Street


Mike Motes Builders, LLC (850) 626-3471

   Home(s) for Sale:  2210 Tarragona Street

  SOLD:

    4780 Oakloand Drive

    16 Park Drive

    1042 Peakview Drive

    2297 Libra Lane

 

Parker Custom Built Homes, Inc. (850) 572-1134

   Home(s) for Sale: 1465 Dolphin Road

1469 Dolphin Road

406 East Lloyd Street

SOLD:

     1681 Eagle Terrace

 

SEED Properties, LLC (850) 380-3073 or (845) 797-9016

   Home(s) for Sale:   

  SOLD:

    1017 W. LaRua Street

      420 North E Street

 

For additional information about the Urban Infill Housing Development Program or specific homes that are available in Escambia County and the City of Pensacola contact the ECHFA office at (850) 432-7077 or any of the Participating Builders listed above.

 

 

Contact us for more information

(800) 388-1970
For Homebuyers
For lenders
For Developers
Participating Counties
Today's
Interest Rate!

5.00% Gov't./5.25% Conv.