FAQ for Lenders

Frequently Asked Questions

1. How do you reach Escambia County Housing Finance Authority (ECHFA)?

PHONE: 800-388-1970 -OR- 850-432-7077
ADDRESS: 700 South Palafox St., Ste. 310, Pensacola, FL 32502

2. Why should a lender participate in ECHFA’s program?

We help Participating Lenders by promoting and referring homebuyers to this elite group. Check out the other reasons to become a Participating Lender.

3. How can my institution become a participating lender?

It’s simple. Just check out the How to Become a Participating Lender section of our website to learn how to join.

4. What areas are served by ECHFA?

We serve a number of regions around Florida: the areas around Pensacola, Destin, Panama City, Apalachicola, Gainesville, Tallahassee,  Brooksville, and Vero Beach. The 21 counties we serve are Alachua, Bay, Bradford, Escambia, Franklin, Gadsden, Gulf, Hernando, Indian River, Jackson, Jefferson, Leon, Madison, Marion, Martin, Okaloosa, Santa Rosa, St. Lucie, Taylor, Walton and Wakulla. Check out the Participating Counties Map to learn more.

5. Does ECHFA handle only low-income housing?

No. We serve individuals with a wide range of income levels. Individuals of middle, moderate and low incomes are welcome to apply.
Learn the income limits for each Participating County.

6. Are ECHFA’s Programs available only to people who have never owned homes?

No. ECHFA Programs are available to not only first-time homebuyers, but also individuals who have not owned a home as their principal residence in the last 3 years. Plus, the first-time homebuyer restriction is waived for veterans who have received an honorable discharge and individuals who select a home in one of the Targeted Areas.

7. What is the minimum credit required of borrowers?

Borrowers must meet normal standards of credit worthiness and have a FICO score of 640 or higher.

8. What type of housing is eligible?

Single-family homes (both detached and attached), as well as condominiums, town homes and PUDs. Learn more details on what properties qualify.

9. How long has the ECHFA been in business?

We have been in business for more than 40 years and have helped many Participating Lenders by providing affordable mortgage loans and down payment assistance/closing costs to homebuyers. This tenure has allowed us to fine-tune our skills in quickly and efficiently making the loan origination process as smooth as possible.

10. Who oversees the ECHFA?

ECHFA is under the oversight of a five-member board of citizens appointed by the Escambia County Board of County Commissioners. The Board, which meets monthly to review ECHFA’s progress, shares a passion for providing affordable housing.

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

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