Welcome to Community Services

Home Purchase Program and
Home Purchase with Additional Leveraging

The Home Purchase Program is designed to help qualified, creditworthy clients purchase a home by providing assistance for down payment, closing costs, prepaids and/or repairs.  Home Purchase with Additional Leveraging is available for clients who have additional funds from other programs, such as HOP or employer assistance.

1.  Who is eligible for the Home Purchase Program?
Households are eligible for assistance if they meet the following guidelines:

2.  What are the income limits?
Households must be classified as Very-low, Low or Moderate-income to be eligible for the program.  (From time to time the home purchase program may be limited to Low and/or Very-low income households.)  Your household must remain income qualified until housing assistance is provided at closing. The following current income limits (adjusted for family size) are in effect:

2008 Income Limits by Family Size
Family Size	Very Low	Low	Moderate “100”	Moderate “120”
1	$20,950	$33,500	$41,900	$50,280
2	$23,900	$38,300	$47,800	$57,360
3	$26,900	$43,050	$53,800	$64,560
4	$29,900	$47,850	$59,800	$71,760
5	$32,300	$51,700	$64,600	$77,520
6	$34,700	$55,500	$69,400	$83,280
7	$37,100	$59,350	$74,200	$89,040
8	$39,450	$63,150	$78,900	$94,680

Click below for more information on:
1) Income Inclusions/Exclusions
2) Asset Inclusions/Exclusions

3.  Is there a limit on cash I may have saved or gifts?
In general, verifiable cash and other assets (combined with gifts from family members, if applicable) should not exceed $15,000.  Tax deferred accounts may be excluded from the asset limitation.  Households with additional assets beyond the maximum may be asked to use those assets before any home purchase assistance will be disbursed.  Extenuating circumstances may be considered.

4.  How much assistance is available?
Program maximums are based on income categories as follows:

Very Low	Low	Moderate “100”	Moderate “120”
$70,000	$60,000	$50,000	$30,000

5.  Do I pay back the money I receive?
The assistance is in the form of a deferred payment loan.  You will sign a Note and Mortgage for the amount of assistance provided; the Mortgage will be recorded as a lien against your property until the Note is satisfied.  There is no interest and no payments are made. The full amount of the mortgage will be due on sale or forgiven after 30 years, whichever comes first.

6.  What type of home can I purchase?
You can build a new home or purchase an existing home (no in-ground pools and/or hot tubs allowed.)  In general, existing homes will require a minimum of $1,500 in approved repairs/rehab to qualify for the program.  The repairs must have been completed within the preceding 12 months or the funds can be escrowed for completion up to 3 months after closing.  Mobile homes cannot be purchased through this program.

7.  What types of repair/rehab will qualify?
In general, eligible repairs eliminate code violations, correct safety and sanitary issues, or provide for hazard mitigation (hurricane shutters, water/sewer hookup, etc.)  On a case-by-case basis, eligible repairs/rehab may also include retrofitting of an existing structure or item within a home to make it handicapped accessible.  The balance on a water and/or sewer assessment may be paid with Home Purchase Assistance funds.  Our office orders a home and termite inspection for an existing home.  This inspection ensures that the home will meet the housing program guidelines and provides a list of repair items that qualify for funding through the Housing Assistance Program. All repair/rehabilitation must be approved by housing program staff before a closing date will be scheduled.

Homebuyers must obtain three bids from licensed contractors for each of the approved repairs or groups of repairs.  The housing assistance program will pay the lowest bid.  For single items of $1,000 or less, you may obtain three verbal bids.  In most cases, however, the contractor(s) will need to come to your home for an inspection in order to submit a proposal.  Bids must be based on standard builder-grade replacements.  No upgrades are allowed.

8.  Where can I look for a home?
The Port St. Lucie Home Purchase Program is for clients who want to purchase a home within the city limits of Port St. Lucie; this includes county “pockets” that are located within the city limits.  If you are interested in living in the unincorporated area of St. Lucie County or in Ft. Pierce, you must apply for the program in that respective area.  Note:  Housing Assistance Programs are available in cities and counties throughout Florida.

9.  How much can I pay for my home?
Your lender will provide you with a maximum purchase price, based on your income and monthly debts.  The maximum amount of your home, however, is limited further under the Home Purchase Program as follows:

New or Existing

$280,657

Please note:  The sales price of an existing home, a home sold with land by the contractor, or a home built on land purchased at closing of a construction loan, will be determined from the contract sales price(s).  For homes built on land you already own or received as a gift from a third party, the sales price will be determined by an appraisal performed by a state-certified appraiser.

10. Do I need to have good credit to buy a home?
Clients need to be able to qualify for a first mortgage with a local lender in the St. Lucie County Lending Consortium. This usually requires at least one to two years of good credit.  The lender may also require payment of outstanding medical bills, collections, charge-offs, etc.  If you have any doubts about your credit, if you need to set up a repayment program, or if you have questions regarding your credit report, contact CCCS at (772) 398-3406 before applying for the Housing Assistance Program. We offer free initial credit counseling and debt management sessions through our partnership with Consumer Credit Counseling Service (CCCS).

11. Can I choose my own first mortgage lender?
The Port St. Lucie Home Purchase Assistance Program works with lenders who belong to the St. Lucie County Lending Consortium and offer a special lending package that makes the home buying process more affordable.  By waiving some of the standard fees, these lenders allow you to use more of your funds toward down payment on your home.  All lenders are welcome to become members of the lending consortium, but they must agree to adhere to the Uniform Lending Package in order to be able to assist Home Purchase clients in the home buying process.  At time of application, you will receive a list of lenders who are members of the Consortium and can pre-qualify you for a mortgage.

12. Where can I learn about Home Buying?
You are required to attend a homebuyer’s workshop before you will be allowed to purchase your home.  You will learn about the home buying process, budgeting, home maintenance, etc. and will be better prepared to be a smart homeowner.  Homebuyer workshops are offered in St. Lucie County each month and in Martin County every other month.

13. How can I give back to my community?
A volunteer program was initiated at the request of clients who wanted to give something back to the community.  The Community Services Office coordinated with United Way of St. Lucie County and other social agencies to help fill volunteer vacancies.  Clients are not required to volunteer.  If you indicate that you will perform a community service, you will be expected to fulfill that obligation.

14. How do I apply for assistance?
Applications are available online when funding cycles are advertised. 
Go to www.cityofpsl.com, click on City Departments, then on Community Services.  Or you may pick up an application at the Port St. Lucie City Hall, Community Services office, at 121 SW Port St. Lucie Blvd., Port St. Lucie, FL.  If you need additional information, please call (772) 871-5220 or (772) 344-4084.

15. When will I know if I have been selected?
We are required to send verifications to third parties to confirm all sources of income and assets.  This process usually takes a few weeks.  If you are qualified, your file will be ranked with others ready for funding.  The very-low income households will be selected first; then low; then moderate.  You will receive a letter letting you know whether or not you have been selected and the status of your application.  You must wait to choose your home until you have received this notification.

16. Will I be allowed to refinance if I receive assistance?
Because the City will be placing a mortgage on your property, we must approve of any refinancing you may be considering.  The City’s current policy allows for refinancing (subordination of our Mortgage), if your household will benefit with an interest rate and/or housing payment reduction that is sufficient to offset the costs of refinancing.  You may not receive any funds (cash out) in the transaction, but the City may approve of funds paid directly to a contractor for home improvements.  In general, the City will require that its original Mortgage position be maintained and that tax and insurance payments be escrowed.  This policy is subject to change at any time.
The information above may change at any time.

This information was created to answer questions regarding the Port St. Lucie Housing Assistance Program. It is subject to change at any time. 

Contact Community Services at:
(772) 871-5220, (772) 344-4084 or if you are hearing impaired, call TDD (772) 873-6309

City of Port St. Lucie
121 SW Port St. Lucie Blvd, Room 221
Port St. Lucie, FL  34984
www.cityofpsl.com

The City of Port St. Lucie Housing Assistance Program does not discriminate against any person because of race, color, religion, sex, handicap, familial status, or national origin, or against any other protected classes.  In addition, any reasonable accommodations required by the public may be arranged through the Community Services office.