The REALTOR® Association of Greater Fort Lauderdale recently announced a new federal mortgage credit program being administered through the Housing Finance Authority (HFA) of Broward County. The program is called the Mortgage Credit Certificate (MCC), which is a great tool to enable lower and middle- income families to purchase homes.

Originally the MCC was available to first-time homebuyers, or persons not owning a principal residence during the past three years, who meet certain income and sales price limits. To qualify, the purchase price was not to exceed $331,578, and $405,263 in certain targeted areas.

But the news gets better yet!! The HFA has announced some big changes in the program that will help even more people to purchase a home.

Here are the changes to the program:

  1. Buyers do not have to be first-time homebuyers, however, they must live in the property purchased in the program as their principal residence.
  2. Because they don't have to be first-time buyers evaluators will NOT require any tax returns in the Compliance File.
  3. New Sales Price Limit: $525,090
  4. New Income Limits: 1-2 person households = $75,360; 3+ person households= $87,920

REALTORS® are needed to make this program a success and to help homebuyers all across Broward. It is important that each reader spread the word to others in your respective offices, especially brokers and office managers. When you have a buyer you think may qualify, you can refer them to a participating lender. All they have to do is Refer a Buyer Online. Simply complete the form and click "Submit."

If you have problems accessing the links or have questions, please contact the HFA's program administrators Sue Denihan at sue@ehousing.cc or Patt Denihan at patt@ehousing.cc. They can be reached by calling 954-430-6072. By working together, we can use this tool provided by the Housing Finance Authority of Broward County to increase business and help expand the pool of those able to afford a home of their own.