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This program is designed to help drive predatory lenders out of the market by offering better terms with no hidden costs to homebuyers. "Florida Keys to Home" is a dynamic nonprofit--private sector response to counter predatory lending practices by providing an alternative mortgage loan for lower scoring credit and income borrowers. The program enables these borrowers to obtain a market rate loan that is equal to the loan rate and terms of a higher FICO scoring, higher income homebuyer.
"Florida Keys to Home" is a statewide program and, as such, will provide the same favorable rates and terms throughout Florida so that all residents will enjoy the same benefits usually enjoyed only in large cities.
Program Highlights
- A generous loan-to-value ratio (up to 100% of the purchase price) and underwriting criteria (FICO scores as low as 600, "alternative credit" criteria and other flexible terms).
- Favorable market interest rate loans, priced daily
- Permits up to 7 percent of the sales price to be in the form of a Second Loan borrowed to finance all or a portion of the required downpayment, closing and prepaid costs.
- The rate for the second loan is currently priced at 7% (subject to change).
- Comprehensive homebuyer education courses.
- As little as $500 qualifies a borrower to obtain a loan (subject to loan underwriting approval).
This commitment supplements Citi’s Opportunities Within Neighborhoods(SM) program, which aims to increase homeownership substantially throughout the country under a $200 billion commitment to affordable housing through the end of the decade.
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How to get started
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Interested borrowers can contact (866) 531-5308 for more information on the program.
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Learn More
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Join our Home Buyers Club and get one-on-one confidential counseling. You will also be invited to educational workshops and housing fairs. This service is provided by the Miami-Dade Affordable Housing Foundation, Inc. Call 305-373-9750 for more details.
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files, you can download 
