Market Rate Program

Lee County Housing Finance Authority provides First-time homebuyers and Non-First-time homebuyers down payment and closing cost assistance through the Market Rate TBA program.  Program funds are first-come, first serve and are continuously funded.

market-rateProgram Summary:

  • Down Payment Assistance in the form of a non-repayable grant, 3% or 5% of the note amount
  • Competitive 30-year fixed mortgage rate
  • No asset limits for homebuyers
  • Eligible Loan Types: FHA, VA, USDA-RD
  • Home must serve as the primary residence
  • Borrower(s) must occupy property within 60 days of closing
  • Homebuyer education not required but recommended (links)
  • Eligible Areas: Lee, Collier, DeSoto, Palm Beach and Sarasota Counties in Florida

Who Qualifies:

  • No first-time Homebuyer requirement
  • Must be able to permanently reside in the U.S.
  • Maximum income limits for eligibility
  • FICO Score must be 640 or higher, DTI requirement is 45%, and borrower(s) must meet normal FHA, VA or USDA-RD  underwriting requirements

Getting Started:

If you would like to see if you qualify for one of these programs, please click here ( to view more details and find contact information for approved participating lenders.

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