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Florida HOP Part 5. Homebuyer Loan Process

By
Real Estate Agent with EarthSTEPS

Florida’s  HOP program

 

For a brief overview of the program, please see my first posting

 

Homebuyer Loan Process:

 

Keeping it simple, keeps you happy!

 

1.    Contact a HOP educated REALTOR and Lender to assist you with your homebuying process

2.    Once construction on the Unit has begun, Members (HOP builders) will reserve your homebuyer financing (provided on a loan-by-loan basis) by providing the required date of foundation inspection on the HOP Homebuyer Reservation (“HOPRES201 (5/01/08”) - for more information, please see http://www.floridahousing.org/Home/Developers/HomeownershipPrograms/HOP.

3.    Within fourteen (14) Calendar Days of making the reservation, Members (HOP Builders) must submit a copy of the building permit and the completed Environmental Checklist (“HOPENV301 (5/1/08”) must be approved (which is available here) or the reservation will be cancelled.

4.    Available funds can only be reserved for a maximum of one hundred eighty (180) Calendar Days. If funds are not drawn within that period, they will be cancelled and the Builder must submit a new reservation.

5.     For more information on the process, please go to the Florida Housing Finance Corporation Website.

 

Introduction to HOP Program:

Requirements for Building Eligibility:

Additional Building Requirements:

Eligible Homebuyer Requirements:

Homebuyer Loan Process:

Become a HOP Builder: