Realtor FAQs

Realtor FAQs 

For more information call us at 800-388-1970 or 850-432-7077. *Participating Lenders provide specific APR information as required by law.

Phone: 800-388-1970 -OR- 850-432-7077
Address: 700 South Palafox St., Ste. 310, Pensacola, FL 32502
Email: Visit our Contact Page
We help realtors sell homes. The Escambia County Housing Finance Authority (ECHFA) serves 19 counties across Florida by offering Homeownership Programs to first-time homebuyers and former in an effort to provide safe, decent and affordable housing. Currently homebuyers may select from either of two Down Payment Assistance and Closing Costs ("DPA") program options for the Governmental (FHA, VA, USDA-RD) Program Loans:

Governmental Classic DPA Program offers a 0% Non-Amortizing 30-Year Deferred Second Mortgage. The Authority presently provides up to $10,000 Down Payment Assistance Loans that can only be used with a Governmental Classic Program First Mortgage type. The Second Mortgage is not forgivable and becomes due when first mortgage is satisfied or upon sale, transfer or disposition of property.

Realtors know that ECHFA’s down payment and closing costs assistance help solve many of the problems that typically arise in the countdown to closing a sale.

Homebuyers are also exempt from certain closing costs by paying no intangible tax on the Second Mortgage.

It depends. Yes, if the the Classic Second Mortgage option used because is not forgiven and becomes due when first mortgage is satisfied (i.e. within 30 years) or upon sale, transfer, rental or disposition of property.

No. The 10-year Forgivable Second Mortgage DPA Loan is fully forgiven on the anniversary date of the loan closing in the 10th year. However, the full amount of the DPA Second Mortgage becomes due when first mortgage is satisfied or upon sale, transfer or disposition of property.
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 Participating Counties Map to learn more.
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.
No. ECHFA Homeownership 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.
Borrowers must meet normal standards of credit worthiness and have a FICO score of 640 or higher.
Single-family homes (both detached and attached), as well as condominiums, town homes and PUDs. Learn more details on what properties qualify.
ECHFA has been in business for more than 40 years and has helped many realtors close sales through its Homeownership Programs.
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.

Learn More About our Homeownership Program