1. Determine if you Qualify.
2. Determine if the property you are interested in Qualifies.
3. Contact Escambia County Housing Finance Authority (ECHFA) at 800-388-1970 to learn more about the Homeownership Program, available down payment/closing costs assistance and to receive contact information for Participating Lenders.
4. Help speed up the approval process of your loan by gathering your financial information:
a. Tax Returns and W-2s for the last 3 consecutive years
b. Bank Statements for the last 3 months
c. Pay-Stubs for the last 3 months and other Financial Documents related to all your sources of income:
• Listing of all real estate investments
• Listing of all investments in stocks and/or bonds
• Copy of court ordered child support judgment(s)
• SSI, DHAP, retirement income verification documents
• Evidence of other income
5. Contact a Participating Lender to start the loan application process.
6. Meet with the Participating Lender to complete the loan application. Please bring all requested documents listed in Step 4 to the Participating Lender
7. The Participating Lender will review your application and financial documents, and will forward your information to their underwriter for approval.
8. Once pre-approved for a mortgage loan amount, negotiate an agreement to purchase a home with a seller of the home. You should seek the assistance of a Realtor in negotiating the purchase agreement.
9. Close on your mortgage loan.
10. Move into your new home!
For more information call us at 800-388-1970 or 850-432-7077.