Decrease font size Reset font size Increase font size
News and Events

Newsrelease-header

Contact:
Taylore Maxey (850) 488-4197
  • TALLAHASSEE - Over $1.7 million has been reserved for 118 loans through Florida Housing Finance Corporation’s  (Florida Housing) new homeownership programs in the following Hurricane Michael impacted counties: Bay, Calhoun, Franklin, Gadsden, Gulf, Holmes, Jackson, Liberty, Taylor, Wakulla and Washington.  Earlier this summer, Florida Housing made $5 million available to those looking to buy homes in the area ravaged by the storm and to date, more than $1.7 million has been committed to homebuyers in need of down payment and closing cost assistance.

    Launched in early June, the Hurricane Michael Recovery Loan Program offers below market 30-year fixed rate first mortgages coupled with up to $15,000 in down payment (DPA) and closing cost assistance for qualifying homebuyers. DPA loans will be at zero percent interest, non-amortizing and forgivable at 20 percent per year over five years. The DPA loan is fully forgivable if an active duty serviceperson is officially reassigned and must sell the home. Also, those eligible do NOT have to be a first-time homebuyer to qualify for this program, though the home must be owner-occupied.

    Florida Housing Executive Director Trey Price said, “Florida Housing has injected millions of dollars for rebuilding rental stock and these Hurricane Michael homeownership and down payment assistance programs will assist with rebuilding the Panhandle single-family market.  These low interest loans help Floridians impacted by the storm obtain stable, affordable housing.” 

    The Hurricane Michael Recovery Loan Programs available are the following (interest rates may change daily):

    • Hurricane Michael Florida First:  Interest rate of 3.5% for a 30-year, fixed rate first mortgage;
    • Hurricane Michael Florida Military Heroes: Interest rate of 3.25% for a 30-year, fixed rate mortgage designed to help both veterans and active duty military personnel;
    • Hurricane Michael HFA Preferred Conventional Loan Program: Interest rate of 3.875% for a 30-year, fixed rate first mortgage; and
    • Hurricane Michael HFA Advantage Loan Program: Interest rate of 4% for a 30-year, fixed rate first mortgage.

    Additional information on the Hurricane Michael Recovery Loan Programs and our participating lenders can be found in the Homebuyer Program Wizard on our website at www.floridahousing.org.

    Florida Housing was created by the Legislature more than 35 years ago. We are the state’s housing finance agency (HFA) that administers state and federal resources to help provide affordable homeownership and rental housing options for the citizens of Florida. For more information, please visit www.floridahousing.org. Be sure to “Like” us on Facebook, and “Follow” us on Twitter @Florida_Housing.

     

    ###

     

  • Statement from Executive Director Trey Price on the 2019 Budget:

    We applaud Governor Ron DeSantis, the House, and Senate for their commitment to affordable housing and are grateful for funding statewide housing needs including funds to assist the families devasted by Hurricane Michael. In the wake of 2004 and 2005 hurricanes, we saw similar programs assist the urgent housing needs of Floridians who were impacted by the storms.

    Florida Housing works every day to help Florida families obtain housing options that are affordable to them. With the resources that are entrusted to us, Florida Housing will continue to provide assistance to respond to Florida’s growing and diverse needs.

    Florida Housing was created by the Legislature more than 35 years ago. We are the state’s housing finance agency (HFA) that administers state and federal resources to help provide affordable homeownership and rental housing options for the citizens of Florida.

    For more information, please visit www.floridahousing.org.

     

    ###

     

  • TALLAHASSEE - Florida Housing's upcoming Board of Directors' Meeting will be held on Friday, June 21, 2019 in Jacksonville. The meeting will begin at 8:30 a.m. For Board Package information, please click here.

    Event Details:
    Who: Florida Housing's Board of Directors
    What: Board Meeting
    When: Friday, June 21, 2019, beginning at 8:30 a.m.
    Where: Hyatt Regency Jacksonville
                 225 East Coastline Drive  
                 Jacksonville, FL 32202

    For more information on this Board Meeting, please contact Sheila Freaney, Board Liaison, at 850-488-4197 or via email at sheila.freaney@floridahousing.org

    Additional Resources and Links Meet Florida Housing's Board of Directors

  • New Programs to Focus Dollars on Homebuyers

    TALLAHASSEE - The deadline to accept applications for Florida’s federal Elderly Mortgage Assistance Program (ELMORE) is June 30, 2019. Under the leadership of Executive Director Trey Price, Florida Housing Finance Corporation (Florida Housing) has disbursed 100 percent of the funds for Florida’s Hardest-Hit Fund (HHF) ahead of schedule. Originally scheduled to end in 2020, qualified homeowners who are seniors in Florida may continue to apply for assistance through ELMORE until June 30, 2019.

    As of May 31, 2019, 2,725 seniors in Florida have received assistance through ELMORE, and Florida Housing has disbursed 100 percent of the $1.135 billion received from the US Department of Treasury.

    “HHF programs were originally scheduled to end in 2020 and Florida Housing was able to distribute these funds well ahead of schedule,” said Trey Price, executive director for Florida Housing. “I highly encourage seniors in Florida who are struggling with their reverse mortgage to apply before the June 30 deadline.” 

    Homeowners who meet specific qualifications may be eligible for a two-year forgivable loan of up to $50,000.  The funds will be distributed to the mortgage servicer, on the homeowner’s behalf, in a lump sum to repay property-related expenses paid by the servicer (e.g., property taxes, homeowner’s insurance, flood insurance and association fees) plus upcoming property-related expenses for up to 12 months. 

    Homeowners who qualify may apply for assistance with ELMORE until the June 30, 2019, deadline. Applications received on or before the deadline will be processed.

    Florida homeowners with reverse mortgages who want to see if they qualify for the ELMORE program should contact the toll-free ELMORE Application and Information Line at 1 (800) 601-3534 to apply and/or receive more information on the program. Additionally, you may visit the ELMORE program website at www.FloridaELMORE.org  for more information. Florida Housing will also be hosting ELMORE events throughout the state. For more information on the event dates and to set an appointment, call the toll-free number. There is no cost to apply for this program.

    Florida Housing is the state’s housing finance agency (HFA) that administers state and federal resources to help provide affordable homeownership and rental housing options for our hardworking and vulnerable Floridians across the State. For more information, please visit www.floridahousing.org.

     

    ###

     

  • New Programs to Focus Dollars on Homebuyers

    PANAMA CITY, FLA. - Today, the Florida Housing Finance Corporation (Florida Housing) announced the availability of two new homeownership programs that will provide additional affordable housing resources for those Floridians who were impacted by Hurricane Michael. Trey Price, Executive Director of Florida Housing Finance Corporation, unveiled the programs during a meeting with Mayor Greg Brudnicki of Panama City.

    “Florida Housing is proud to work alongside Governor DeSantis, state, and local officials to provide safe, decent affordable housing for Floridians,” Price said. “These homeownership and down payment assistance programs will help the rebuilding of these Panhandle communities and for families to achieve the American Dream affordably.”

    Expected to launch in early June, the Homeownership Loan Program (HLP) will offer a favorable 30-year fixed rate first mortgage coupled with up to $15,000 in down payment (DPA) and closing cost assistance for qualifying homebuyers up to 140 percent AMI. DPA loans will be at zero percent interest, non-amortizing and forgivable at 20 percent per year over five years. The DPA loan is fully forgivable if an active duty serviceperson is officially reassigned and must sell the home. A total of up to $5 million in DPA will be available and may be used in conjunction with a variety of first mortgage products, including Veterans Affairs (VA) loans. Those eligible do not have to be a first-time homebuyer to qualify for this program, though the home must be owner-occupied.” 

    The Homeownership Pool (HOP) Program will also launch in June and will create a $1 million pool of federal (HOME) funds to be made available to Hurricane Michael impacted counties for new single-family housing. Homebuilders who participate in this program can use up to $35,000 in down payment and closing cost assistance loans (DPA) to assist homebuyers in qualifying to purchase these new homes. The DPA loans assist borrowers at 80 percent area median income (AMI) and below and are zero percent interest, non-amortizing and due on sale, refinance or non-owner occupancy.” 

    Also, Florida Housing’s Board of Directors recently voted to approve funding to construct seven newly-constructed rental developments providing over 200 units of affordable housing. The more than $30 million investment will be made using federal Home Investment Partnerships Program (HOME) funding and include developments in Bay (3), Gulf (2), (1) Jackson and (1) Wakulla counties.

    Florida Housing was created by the Legislature more than 35 years ago. We are the state’s housing finance agency (HFA) that administers state and federal resources to help provide affordable homeownership and rental housing options for the citizens of Florida. For more information, please visit www.floridahousing.org. Be sure to “Like” us on Facebook, and “Follow” us on Twitter @Florida_Housing.

     

    ###

     

  • TALLAHASSEE - The Florida Housing Finance Corporation (Florida Housing) Board of Directors approved the funding of seven newly-constructed rental developments that will provide over 200 units of affordable housing in counties ravaged by the storm. The more than $30 million investment will be made using federal Home Investment Partnerships Program (HOME) funding and include developments in Bay (3), Gulf (2), Jackson and Wakulla counties.

    Administered by Florida Housing, this program will provide additional affordable housing resources for those Floridians who were impacted by Hurricane Michael. In February, Florida Housing issued RFA 2019-109 offering $30 million of HOME funding to Applicants proposing the construction of affordable, multifamily housing in Hurricane Michael impacted counties and in Rural Areas. A total of 20 applications were received.

    “We continue to see a basic lack of housing units in the area,” said Trey Price, executive director for Florida Housing. “These new affordable rental units will be a welcome addition and represent the first new, permanent rental housing that has been government financed.” 

    The HOME Investment Partnerships Program provides non-amortized, low interest loans to developers for acquisition and/or new construction or rehabilitation of affordable rental housing to low income families. Loans are offered for the financing of first or subordinate mortgages with a simple interest rate of zero percent to nonprofit applicants and 1.5% per annum interest rate to for-profit applicants.

    Click here to view the list of all applicants selected for funding.

    Florida Housing was created by the Legislature more than 35 years ago. We are the state’s housing finance agency (HFA) that administers state and federal resources to help provide affordable homeownership and rental housing options for the citizens of Florida. For more information, please visit www.floridahousing.org.

     


    ###

     

  • TALLAHASSEE - Florida Housing's upcoming Board of Directors' Meeting will be held on Friday, May 10, 2019 in Tallahassee. The meeting will begin at 8:30 a.m. For Board Package information, please click here.

    Event Details:
    Who: Florida Housing's Board of Directors
    What: Board Meeting
    When: Friday, May 10, 2019, beginning at 8:30 a.m.
    Where: Tallahassee City Hall, Commission Chambers
                 300 South Adams Street 
                 Tallahassee, FL 32301

    For more information on this Board Meeting, please contact Sheila Freaney, Board Liaison, at 850-488-4197 or via email at sheila.freaney@floridahousing.org

    Additional Resources and Links Meet Florida Housing's Board of Directors

  • TALLAHASSEE - Florida Housing Finance Corporation (Florida Housing) is announcing that the Elderly Mortgage Assistance Program (ELMORE), which assists seniors who are in default of their reverse mortgage, will close the program to new applications on June 30, 2019.

    Launched in 2013, ELMORE has spent more than $52million in federal funding and has assisted more than 2,600 Florida seniors with keeping their homes. Homeowners who meet specific qualifications may be eligible for a two-year forgivable loan of up to $50,000.  The funds will be distributed to the mortgage servicer, on the homeowner’s behalf, in a lump sum to repay property-related expenses paid by the servicer (e.g., property taxes, homeowner’s insurance, flood insurance and association fees) plus upcoming property-related expenses for up to 12 months.

    ELMORE assists elder homeowners with reverse mortgages—who, because of a hardship, are having difficulty making property tax and homeowner’s insurance payments.  As a result, these homeowners are facing foreclosure for non-payment of these required costs. 

    “Florida Housing implemented this program to help seniors in Florida sustain their homes,” said Trey Price executive director for Florida Housing. “We are pleased to have met the needs of so many seniors who were struggling to avoid foreclosure.”

    Florida homeowners with reverse mortgages who want to see if they qualify for the ELMORE program should contact the toll-free ELMORE Application and Information Line at 1 (800) 601-3534 to apply and/or receive more information on the program. Additionally, you may visit the ELMORE program website at www.FloridaELMORE.org  for more information. Florida Housing will also be hosting ELMORE events throughout the state. For more information on the event dates and to set an appointment, call the toll-free number. There is no cost to apply for this program.

    Florida Housing is the state’s housing finance agency (HFA) that administers state and federal resources to help provide affordable homeownership and rental housing options for our hardworking and vulnerable Floridians across the State. For more information, please visit  www.floridahousing.org.

     


    ###

     

  • TALLAHASSEE - Florida Housing's upcoming Board of Directors' Meeting will be held on Friday, March 22, 2019 in Tallahassee. The meeting will begin at 8:30 a.m. For Board Package information, please click here.

    Event Details:
    Who: Florida Housing's Board of Directors
    What: Board Meeting
    When: Friday, March 22, 2019, beginning at 8:30 a.m.
    Where: Tallahassee City Hall, Commission Chambers
                 300 South Adams Street 
                 Tallahassee, FL 32301

    For more information on this Board Meeting, please contact Sheila Freaney, Board Liaison, at 850-488-4197 or via email at sheila.freaney@floridahousing.org

    Additional Resources and Links Meet Florida Housing's Board of Directors

  • TALLAHASSEE - On March 4, 2019, the Florida Housing Finance Corporation (Florida Housing)  will relaunch the Florida Hardest-Hit Fund Down Payment Assistance Program (HHF-DPA) in five approved counties. This federal program was implemented to prevent foreclosures by stimulating home purchase activity and stabilizing neighborhoods in certain counties that demonstrated high levels on housing market distress. HHF-DPA provides up to $15,000 in down payment and closing cost assistance to eligible first-time homebuyers and is forgivable over five years. Florida Housing has successfully disbursed 100 percent of the over $1 billion in HHF program funds allocated by the US Department of Treasury (Treasury) two years ahead of schedule and is now using approximately $20 million in repayments of HHF program loans to assist additional Floridians.

    Previously, HHF-DPA was available in eleven Florida counties. For the relaunch, Florida Housing used the latest market data to conduct a Treasury-mandated assessment of lingering negative effects in local housing markets. Based on this assessment, Florida Housing will assist eligible first-time homebuyers in the following five counties:  Clay, Duval, Hillsborough, Osceola and Pasco.

    “Statistics show that foreclosures have drastically decreased in Florida and that our state has recovered from the housing crisis,” said Trey Price, executive director of Florida Housing. “This funding will further assist with the continued stabilization of recovering, distressed neighborhoods.” 

    As of January 31, 2019, 52,742 Florida families have received assistance through HHF programs and more than 20,000 received down payment and closing cost assistance through HHF-DPA. It is estimated that approximately 1,500 eligible first-time homebuyers will be assisted with this additional funding.

    First announced on February 19, 2010, by the US Department of the Treasury (Treasury), the “Housing Finance Agency (HFA) Innovation Fund for the Hardest-Hit Housing Markets” (HFA Hardest-Hit Fund) provides federal funding to states hardest hit by the aftermath of the burst of the housing bubble. Funding was allocated to 18 states and the District of Columbia.

    Click here for eligibility requirements and more information on the HHF-DPA Program. To hear participants discuss their experience with the Hardest-Hit Fund Program click here.

    Florida Housing was created by the Legislature more than 35 years ago. We are the state’s housing finance agency (HFA) that administers state and federal resources to help provide affordable homeownership and rental housing options for the citizens of Florida. For more information, please visit  www.floridahousing.org.

     


    ###

     

  • TALLAHASSEE, FL - The Florida Housing Finance Corporation (Florida Housing) is releasing $5 million in disaster funds to counties in the Panhandle that were ravaged by Hurricane Michael. After completing the evaluation process regarding the State Housing Initiative Partnership (SHIP) program disaster funds, Florida Housing is allocating the funding to nine impacted counties. The Tier 1 counties include: Bay, Calhoun, Gulf and Jackson. The Tier 2 counties include: Franklin, Gadsden, Liberty, Wakulla, and Washington. Click here to review the complete list of local governments approved to received disaster funding and allocation amounts.

    “Many of the counties affected by Hurricane Michael are small, rural counties, and the SHIP dollars allocated here will make a difference getting residents’ lives back in order,” said Trey Price, executive director for Florida Housing. “Florida Housing continues the long process of rebuilding the Panhandle with this much-needed allocation".

    The SHIP program provides funds to local governments for their homeownership and rental housing programs. Under Section 420.9073(5), Florida Statutes, Florida Housing is authorized to hold back up to $5 million each fiscal year from the SHIP appropriation for recovery efforts for declared disasters. In previous years, recovery efforts include response to hurricanes, tornadoes, flooding and wildfires.

    While SHIP’s role is primarily in long-term housing recovery, each SHIP local government has an adopted disaster strategy that allows for assistance in the immediate aftermath of a declared disaster.  The strategies include, temporary relocation, tree and debris removal, rent assistance, and short-term repairs to prevent further damage to the structure or to allow for occupancy until further repairs are made.

    Click here for additional disaster relief information that details Florida Housing resources available throughout the state, as well as other federal, state and local resources.

    Florida Housing was created by the Legislature more than 35 years ago. We are the state’s housing finance agency (HFA) that administers state and federal resources to help provide affordable homeownership and rental housing options for our hardworking and vulnerable Floridians across the State. For more information, please visit www.floridahousing.org.

     


    ###

     

  • ~Hurricane Recovery for area severely impacted by Hurricane Irma~

     

    TALLAHASSEE, FL - The Florida Housing Finance Corporation (Florida Housing) Board of Directors approved the awarding of financing for the construction of two workforce housing developments in Monroe County during the board meeting held  in December. Florida Housing issued invitations to credit underwriting last week to the approved applicants..

    On October 8, 2018, the Corporation issued a request for application (RFA) offering over $1.8 million of Competitive Housing Credits and $15 million in State Apartment Incentive Loan (SAIL) funding to applicants proposing the development of workforce housing for hurricane recovery in Monroe County. This RFA was specifically created to assist with building affordable workforce housing in an area that was devastated by Hurricane Irma in 2017.

    “Florida Housing is keeping its commitment of providing long-term housing solutions and resources to the citizens of Florida,” said Trey Price, executive director for Florida Housing. “The construction of affordable workforce housing is imperative in Monroe County as the community continues to rebuild from Hurricane Irma.”

    The SAIL program provides developers with the gap funding needed to obtain full financing of affordable rental housing, and the Housing Credits program provides dollar-for-dollar reduction in federal tax liability in exchange for the development of affordable rental housing. SAIL loans are low-interest loans awarded on a competitive basis to developers of affordable rental housing. Click here to view additional information on the applications that were approved.

    Florida Housing was created by the Legislature more than 35 years ago. We are the state’s housing finance agency (HFA) that administers state and federal resources to help provide affordable homeownership and rental housing options for the citizens of Florida. For more information, please visit www.floridahousing.org.

     


    ###

     

@ Florida Housing Finance Corporation. All Rights Reserved.