Home Ownership Qualifications

Home Ownership Qualification Criteria

  • Must be a resident (or employed in) Lake or Sumter County for 1 year minimum
  • Must not have any felony convictions (or pending charges) and must not be a sexual offender
  • Must be willing to partner for up to 12 months with HFHLS
  • Must demonstrate a need for program
  • Credit matters – target score of 640
  • Must have verifiable income
  • Must be at or below 80% AMI and able to qualify for a mortgage

 


Income Guidelines

80% AMI for Sumter County Residents

1 Person Family: $14,150 – $37,700
2 Person Family: $17,420 – $43,100
3 Person Family: $21,960 – $48,500
4 Person Family: $26,500 – $53,850
5 Person Family: $31,040 – $58,200

80% AMI for Lake County Residents

1 Person Family: $16,050 – $42,750
2 Person Family: $18,350 – $48,850
3 Person Family: $21,960 – $54,950

4 Person Family: $26,500 – $61,050
5 Person Family: $31,040 – $65,950

 

*Please note that income limits change annually based on USDA guidelines of the Area Median Income calculations. Figures above last released April 2021.


Applications Open! 

 

We are accepting applications for a 4 bedroom, 2 bath home in Fruitland Park (see floor plan below).  If you feel you meet the program criteria above please submit a pre-screen questionnaire by hitting the blue button above.