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Affordable Housing


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MFCS’ Affordable Housing Program is designed to improve access to affordable homeownership opportunities for low-income people and communities.  This is a homeownership program that seeks applicants who have a demonstrated need for housing and have the financial ability to own a home, even if they would not qualify for a traditional mortgage.

Who is Eligible:

In addition to income requirements, eligibility is determined through a process that assesses the applicant’s need for better housing, the applicant’s ability to afford homeownership, and the applicant’s willingness to fulfill requirements related to being a partner of the program.

Qualification Criteria

Program Partners are selected according to the following requirements:

-Need for better housing

Are you living in conditions such as:

-Overcrowded housing

-Unsafe, unsanitary housing; substandard housing with a leaky roof, poor heating, or lack of proper plumbing

-Paying a very high percentage of your income for rent (more than 30%)

-Ability to repay an affordable mortgage

-Wage earners must demonstrate a steady source of income for at least two years;

-Meet necessary income-related qualifications that include a sufficient debt-to-income ratio; and

-Have reasonably good credit.

-Willingness to partner with Mid Florida Community Services, Inc.

-Program Partners must show a genuine interest in the program's overall community reinvestment philosophy .

-We check and verify information about prospective Program Partners on their income, current rent, relationships with landlords, and account status with utility companies and banks.

-We also verify references, run credit and background checks (including criminal history).  Prospective Program Partners will be expected to include payment for the cost of their credit check with their completed application.

-Once a Program Partner is selected and approved that applicant must then complete up to 400 Sweat Equity hours.

 

Additional Criteria

We require those selected and approved Program Partners to attend a HUD-Certified homebuyer class.  This 8-hour class is mandatory for all borrowers seeking local, state, and federal down payment assistance. This class is open to the public and can be taken before application is made with MFCS' Affordable Housing Program, but not required until home closing day.  Please be advised that this class must be taken no sooner than two years from your home closing day.

We also require all of our selected and approved Program Partners to apply with third-party financing, such as the USDA 502 Program.  The cash requirement (which typically covers the first year of insurance) for the USDA 502 Program are approximately $800 - $1000.

Income is based on the total household income. This includes:  child support, alimony payments, and employment income obtained from everyone living in the home.  MFCS uses HUD income standards to serve 80% and below of the Area Median Income.

 

Frequently Asked Questions -- Coming Soon!

 

Application Information

The next application cycle for the MFCS Affordable Housing Program is not yet open.  We expect for this cycle to open within the next 90 days.  Once the cycle opens information will be available here.

 

Service Locations: Hernando County

Program Office:  19450 Cortez Blvd., Brooksville, FL 34601
Phone: 352-754-1159

Thrift Store: 19450 Cortez Blvd., Brooksville, FL 34601
Phone: 352-754-1255

Hours of Operation:  Monday - Friday from 9 a.m. - 4 p.m.

 

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