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 – $14,250 – $38,800
2 Person Family – $17,240 – $43,400
3 Person Family – $21,720 – $48,850
4 Person Family – $26,200 – $54,250
5 Person Family – $30,680 – $58,600
80% AMI for Lake County Residents
1 Person Family – $15,300 – $40,750
2 Person Family – $17,450 – $46,550
3 Person Family – $21,720 – $52,350
4 Person Family – $26,200 – $58,150
5 Person Family – $30,680 – $62,850

 

*Please note that income limits change annually based on USDA guidelines of the Area Median Income calculations. Figures above last released April 2020.


Unfortunately, we aren’t accepting applications at this time.  We encourage you to check back soon.