Florida Housing establishes limits by using an approved IRS method.  The Florida Housing Finance Corporation uses 90% of the US Treasury limits; these limits are higher in Federally Designated Targeted and Go Zone areas.  More restrictive limits may apply depending on the type of program used, and keep in mind limits change annually.

Sales price limits include everything paid on or on behalf of the buyer to acquire the property.  Settlement costs and financing costs not included in acquisition costs are covered.  As an example the current maximum sales price limit in Orange County is $512,006.00.

In recapping all of this you need to keep in mind what is “carved in stone” when you are looking at the exceptions of the first time homebuyer requirements.  Again these are:

1. First Time Homebuyer requirements apply, except in Federally Targeted Areas and Go Zone Counties.
2. Cannot exceed income limits.
3. Cannot exceed sales price limits.
4. All household incomes must be included (anyone 18+ living in the house.)

RECAPPING ALL THE INFORMATION HERE

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