MULTI-COUNTY FIRST TIME BUYER PROGRAM FOR BREVARD, CLAY, DUVAL AND HILLSBOROUGH COUNTIES PUBLISHED ON TABLE ON PAGE 3

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1 MULTI-COUNTY FIRST TIME BUYER PROGRAM FOR BREVARD, CLAY, DUVAL AND HILLSBOROUGH COUNTIES PUBLISHED ON REVISED 08/31/18 REVISIONS TABLE ON PAGE 3

2 ! HFA of Hillsborough County Multi- County First-Time Buyer Program Page 2 WHO TO CONTACT 7 THE PRODUCTS 8 First Mortgage Loan 8 HFA Second Mortgage Loan - Down Payment and Closing Cost Assistance 8 Mortgage Credit Certificate 9 MORTGAGE CREDIT CERTIFICATES 10 What is a Mortgage Credit Certificate? 10 What is the lender involvement? 11 MCC Homebuyer Benefit 11 What does the Homeowner have to do to claim the benefit with the IRS? 12 MCC Special Rules 12 FIRST MORTGAGE PROGRAM REQUIREMENTS 13 Eligible Borrowers 13 Veterans Exception 13 Targeted Areas 13 First Mortgage Eligible Areas 13 Homebuyer Education 14 Minimum Credit Score 14 Minimum Borrower Contribution - Clay County only 14 HOUSEHOLD INCOME CALCULATION 15 HOUSEHOLD INCOME LIMITS 15 HOUSEHOLD INCOME LIMITS 16 AFFORDABLE INCOME SUBSIDY GRANT 16 HOUSEHOLD INCOME LIMITS 16 AFFORDABLE INCOME SUBSIDY GRANT 16 ACQUISITION LIMITS (Sales Price Limits) 16 Property Requirements 17 FINANCING FACTS 18 LENDER TRAINING REQUIREMENTS 20 SUMMARY OF THE COMPLIANCE ORIGINATION PROCESS 21 PROGRAM TIMELINE 27 Loan Processing, Delivery and Purchase Timetable 27 Extension Request 27 Term of MCC Program 27 PROGRAM FEES 28 LENDER COMPENSATION 29 COMPLIANCE INCOME CALCULATION 30 PROGRAM FORMS 34 DOCUMENTS REQUIRED FOR THE COMPLIANCE FILE (Rev 9/26/15) 34 US BANK WEBSITE 35

3 HFA of Hillsborough County Multi- County First-Time Buyer Program Page 3! REVISIONS TABLE Date REVISIONS TABLE The HFA requires those using the Home Sweet Home Hillsborough first mortgage to also use a Mortgage Credit Certificate page 4, page 6, page Removed specific first mortgage rate information page 5, added US Bank web site information pages 25 & Added 45% DTI Ratio requirement Pg. 5 HFA second mortgage amount revised; Pg. 17 Extension Request Fee revised; Pg. 29 US Bank DPA Funding Verification Form; Pg 15, How to Reserve HFA DPA and MCC funds added; Pg 18-19, Process Guidelines for requesting DPA Funds; Pg 22, How to Reserve a Loan updated Pg 5, added verbiage to HFA second mortgage eligibility criteria Entire guide reformatted to include program information for Brevard County, Clay County and Duval County Pages 16, 19, 27, Award Letter requirements Pages 5 and 22 MCC language clarified, on page 22 note separate fees for first mortgage and MCC Pages 5 and 6, increased amount of DPA; Page 22, Lender Compensation increased and paid at loan purchase Page 12, income limits revised for Hillsborough County Page 22, US Bank Transfer Fee revised for loans reserved on or after Page 22, lender compensation composition revised Page 22, added $75 second mortgage application fee and reformatted program fees page Page 10, Revised Targeted Areas based on 2010 Census; Page 18, New s for Wire Requests Page 7, Removed reference to City of Tampa and Hillsborough County second mortgage set-aside. Funds no longer available Page 9, Removed link to HUD site for maps; Page 14, changed instruction in the DISCLOSE area; Page 18, moved the Clay County DPA Funding Request information from Page 15 to Page 18; Page 27, verbiage regarding Recapture Tax brochure revised; Page 27, revised Pre-Closing, Closing and Post Closing forms verbiage Page 12, income & purchase price limits revised for Brevard, Clay and Duval counties Page 5, DPA in Duval County revised to $7, Page 5, DPA in Clay County will be revised to $5,000 effective July 1st.; Page 21, U.S. Bank Funding Fee Increased for new reservations on and after Page 5, DPA in Clay County will be revised to $7,500 effective July 1st.

4 HFA of Hillsborough County Multi- County First-Time Buyer Program Page 4! Date Page 11, Income and Purchase Price Limit Changes Page 15, Added new recording requirements for Second Note; Page 27, NEW Second Note recording requirements and NEW Second Mortgage Compliance File for loans originated in Hillsborough County ONLY; Page 6, revised Clay County DPA amount to $10,000; Page 13, cash back policy revised for loans originated in Clay County; Page 16, Clarified second mortgage compliance file submission; Page 16, Close and Verify instructions clarified; Page 18, Mark Hendrickson s address revised for Hillsborough and Duval county DPA Fund Requests; Page 12, revised income limits in Hillsborough County ONLY for 6, 7, and 8 family household sizes Page 16, added recordation requirements for loans originated in Brevard and Duval counties Page 6, revised HFA of Jacksonville DPA amount to $10, Page 12, revised income limits for Hillsborough County Page 12, revised income limits for Hillsborough County Page 6, Hillsborough DPA amount changed to $15, Page 12 & & 13, revised income and purchase price limits. Brevard County TBD Page 12 & 13, revised income and purchase price limits for Brevard County Page 14 & 21, Documentary stamps and intangible taxes no longer exempt Page 13, Revised homebuyer education requirement Pages 6 & 7, Added contact directory Page 8, DPA amount in Hillsborough County reduced to $10, Page 5, Reformatted Contact Directory Pages 13 & 14, Reformatted Financing Facts REVISIONS TABLE Pages 15-18, Reformatted Origination Process Page 20, Reformatted ehp and US Bank Fees Page 25, Reformatted Documents for Compliance File Page 17, Added a second HUD-1 is required for all second mortgage programs Page 13, Added second mortgage disclosure requirements Page 20, Revised ehp fee information & revised US Bank fee Page 25, Added disclaimer regarding not reproducing program forms Page 12,Minimum FICO revised; Page 13, Manufactured homes no longer eligible; Page 15, Revised manual underwriting; Page 22, Revised Compliance Income Calculation

5 HFA of Hillsborough County Multi- County First-Time Buyer Program Page 5! Date Page 6, Revised Second Mortgage loan FICO information; Page 11, Revised minimum FICO; Page 14, Revised Manual underwriting Page 12, Revised Acquisition Limit in Hillsborough County Page 19, Reservation to Underwriter Certification revised to 15 days Page 12, Revised income and purchase price limits effective with loan applications dated 06/14/16 and after Page 7, revised DPA for Hillsborough County Page 12, revised minimum Credit score language Page 14, Included all counties to Cash Back policy Page 15, Added US Bank bulletin number to Manual Underwriting Page 21, Clarified ehousingplus Fee REVISIONS TABLE Page 7, Changed DPA assistance in Jacksonville to $15, Pages 7, 11, 13, 14, 15, added Freddie Mac HFA Advantage Loan information Page 6, Revised Who To Contact directory Page 11, Added Agency & US Bank overlay to Eligible Borrower Page 12, Added Freddie Mac loan product to Minimum Credit Score Page 12, Added US Bank overlay to DTI requirement Page 13, Added US Bank Condo Expansion to Property Requirements Pages 20 & 29, Revised US Bank Web Site link Page 23, Revised US Bank Tax Service Fee Page 12, Revised Homebuyer Education to include another online provider Page 13, Revised income limits for all counties except Clay County Page 13, Revised sales price limit for Brevard County only Page 14, Revised Property Requirements for Fannie Mae and Freddie Mac for Condos Page 13, Revised purchase price limit in Hillsborough County PAGE 7, Decreased the DPA amount for loans originated in Jacksonville (Duval County) to $7500. Decreased the DPA amount of loans originated in Hillsborough County to $10,000. Added no MCC s in Brevard County until further notice Page 7 - Added a notation about Duval County Page 8 - Added Freddie Mac AIS Grant information Page 8 - Added notation that Brevard County HFA MCC program Page 9 - Added notation that MCC s are required in Duval County and Hillsborough County Page 13 - Revised conventional loan DTI ratio Page 14 - Added Freddie Mac AIS Grant Income Limits Page 15 - Added Acquisition Cost definition Page 19 - Moved and Updated Lender Training information Page 20 - Added Reservation of Second Mortgage Information Page 20 - Moved and Updated Reservation of MCC Page 20 -Added Reservation of Freddie Mac AIS Grant information Page 21 - Added Step-by-Step Instructions for Freddie Mac AIS Grant Page 22 - Moved and Updated Underwrite & Certify information Page 23 - Added closing information for Freddie Mac AIS Grant Page 27 - Added ehp Fee when using the Freddie Mac AIS Grant REVISIONS CONTINUED ON NEXT PAGE

6 HFA of Hillsborough County Multi- County First-Time Buyer Program Page 6! Date REVISIONS TABLE Page 8, Clay County dpa amount changed to $7,500 effective 04/20/18 Page 9 & 21, AIS Grant amount changed effective 04/23/18 Page 9 & 24, Removed incorrect information from AIS Grant regarding no reimbursement of overage of EMD Page 15, Revised Hillsborough County Income Limits effective 05/21/18 Page 17, Revised Property requirements to clarify condos with Freddie Mac loans Page 29, Revised US Bank tax service fee Page 8, Revised Hillsborough down payment amount effective 07/01/18 07/23/18 Page 16, Revised AIS Grant income limits effective 07/29/18 Pages 18 & 19, Revised Documentary Stamp and Intangible Tax effective 07/01/18 Pages 36-55, Revised Documentary Stamp and Intangible Tax effective 07/01/18 08/31/18 Page 8, Revised DPA amount for Jacksonville HFA (Duval County), updated Brevard, Clay and Hillsborough DPA to be current.

7 HFA of Hillsborough County Multi- County First-Time Buyer Program Page 7! Question General Program Compliance Questions Assistance with ehp Lender Portal Assistance with User Credentials for ehp Lender Portal Update an Underwriter Certified Loan Direct Questions to: ehousingplus (ehp) ehousingplus (ehp) ehousingplus (ehp) WHO TO CONTACT (Rev 05/19/17) Contact Information (954) Ashlynn Mosher (954) ext 261 Anyone at ehp Compliance Office Program Training ehousingplus (ehp) Click on this link to attend Program training. Program Training Issues ehousingplus (ehp) System Software Training for ehp Lender Portal ehousingplus (ehp) Click on this link for the once weekly Live Webinar: System Software Issues ehousingplus (ehp) Program Rates ehousingplus (ehp) Click on this link: to view the HFA of Hillsborough County Program rates. Then click on the RATES tab. Credit Underwriting questions Questions regarding the shipping of closing loan files Participating Lenders need to refer to internal Underwriting Department or Manager ehousingplus (ehp) for questions regarding the program compliance file US Bank does not re-underwriter loans. For general questions, contact US Bank at or Option 2 (for general questions) Please note: US Bank answers underwriting questions from the underwriter of a lender for whom US Bank provides underwriting services ONLY. services@ehousingplus.com US Bank for questions regarding the first mortgage closed loan file hfa.programs@usbank.com hfa.exceptions@usbank.com

8 ! HFA of Hillsborough County Multi- County First-Time Buyer Program Page 8 Question Direct Questions Contact Information to: Questions regarding exceptions ehousingplus (ehp) for questions regarding exceptions on the program compliance file Debbie Kerr ehp.exceptions@ehousingplus.com X216 US Bank for questions regarding exceptions on the first mortgage closed loan file hfa.communications@usbank.com hfa.exceptions@usbank.com THE PRODUCTS The HFA of Hillsborough County sponsors a multi-county single family mortgage program for first-time buyers. By inter-local agreement between the HFA s of Hillsborough County, Clay County, Brevard County and (city of) Jacksonville*, are participating jurisdictions. By grouping several programs together, minimum pool amounts are met much faster. Once pools are settled, the dollar amount of loans in the pool are added back to the revolving fund of available allocation. The process reduces the turnaround time making funds available continuously. * The Jacksonville HFA eligible area is all of Duval County, FL. First Mortgage Loan Rates and assistance are subject to change at any time without notice. For current rate, please visit this web page and click on the RATES tab. The following mortgage products are offered in this program: FHA, VA, USDA:RD (government loans) and the Freddie Mac HFA Advantage Conventional loan. The program offers first mortgage financing for qualifying households purchasing residences in Hillsborough County or the participating jurisdictions. Qualified borrowers will receive a 30-year, fixed rate, fully amortizing first mortgage loan with 360 level monthly payments. (Rev ) HFA Second Mortgage Loan - Down Payment and Closing Cost Assistance The second mortgage may ONLY be used with the HFA s 30-year fixed rate first mortgage noted above. If a borrower qualifies for the HFA of Hillsborough First Mortgage, they will automatically qualify for this second mortgage. All second mortgage loans are 30 year, 0% deferred (or due upon sale, refinancing, transfer of title, or rental of the home if done within first 30 years). This loan is never forgiven. Lenders must use the program second mortgage and note showing the HFA as the mortgagee. With the HFA as the mortgagee, the funds may be used to fulfill FHA s borrower minimum contribution. (Revised 06/17/15). The HFA will fund the second mortgage at closing via their escrow agent. Please see the area of the guide titled DPA Funds Request for detailed information. (Added 12/30/16) Lenders are required to provide a HUD-1 at loan closing. The HFA of Brevard County offers up to $10,000 in down payment assistance in the form of a 30-year deferred, 0% second mortgage. Effective with new loan reservations 10/01/18, the assistance amount will decrease to $7,500. (Rev 08/31/18) The HFA of Hillsborough offers up to $7,500 in the form of a 30-year deferred, 0% second mortgage - effective 08/01/18. (Rev 08/31/18)

9 HFA of Hillsborough County Multi- County First-Time Buyer Program Page 9! The Jacksonville HFA (all of Duval County) offers up to $5,000 in down payment and closing cost assistance in the form of a 30-year deferred, 0% second mortgage - effective 09/01/18. (Rev 08/31/18) The HFA of Clay County offers up to $7,500 in down payment and closing cost assistance in the form of a 30-year deferred, 0% second mortgage. (08/31/18) After reserving first mortgage funds, lenders choose Add Additional to reserve the DPA. Lenders will be prompted to choose the correct DPA by a popup on the screen. Affordable Income Subsidy (AIS) Grant - Freddie Mac HFA Advantage Loan ONLY Borrowers using the Freddie Mac HFA Advantage Loan that meet specific income limits may be eligible for additional funds to help with down payment and closing costs. The income limits are determined by the county location of the home. Effective with new loan reservation 04/23/18 and after, borrowers at or below 80% of the Area Median Income Limits as published by Freddie Mac are eligible for an additional grant in the amount of $1,500 and Borrowers at or below 50% AMI will receive an additional grant of $2,500. The AIS Grant is reserved in the ehousingplus Lender Portal using the ADDITIONAL LOAN tab after the first mortgage AND Second Mortgage are reserved. The AIS will be provided at closing by the Lender. The AIS funds must be used for down payment and closing cost assistance only. There is no repayment of the AIS Grant. Upon purchase of the loan, US Bank will reimburse the Lender for all qualified subsidies. The AIS must be reflected on Page 3, Section L of the CD as Affordable Income Subsidy. This AIS Grant must be reflected in DU or LP findings, along with the Second Mortgage provided by the Program. Any questions about the preparation of the CD should be directed to US Bank HFA Division. The AIS Grant will be available for new reservations beginning 01/24/18. (Rev 04/19/18) Mortgage Credit Certificate The HFA has collectivity authorized the issuance of Mortgage Credit Certificates (MCCs) -- a federal income tax credit. An MCC entitles the recipient to take an annual federal income tax credit. A tax credit represents a reduction of actual federal income taxes due. The holder of the MCC may use the credit each year the loan is outstanding as long as the property continues to be their principal residence. All qualified borrowers purchasing a home in Hillsborough County and Duval County receive an MCC as it is required when using the program first mortgage. Brevard County makes the MCC optional. It is necessary to reserve the first mortgage and then separately reserve an MCC in the separate MCC program. All qualified borrowers purchasing a home in Clay County may also receive an MCC (it is not mandatory). However, the MCC will require the borrower to work with a lender who is approved to participate in the Florida Housing Finance Corporation MCC program.

10 HFA of Hillsborough County Multi- County First-Time Buyer Program Page 10! MORTGAGE CREDIT CERTIFICATES BORROWERS PURCHASING IN DUVAL COUNTY AND HILLSBOROUGH COUNTY ARE REQUIRED TO RECEIVE A MORTGAGE CREDIT CERTIFICATE ISSUED FROM THE HFA OF HILLSBOROUGH COUNTY MCC PROGRAM OR THE JACKSONVILLE HFA MCC PROGRAM ONLY. TAX DISCLAIMER This material is not intended or written to be used, and it cannot be used, by any taxpayer for the purpose of avoiding tax penalties that may be imposed on the taxpayer. This material may be used to support the promotion or marketing of the matter discussed herein. The taxpayer should seek advice from an independent tax advisor regarding the matter set forth herein based on the taxpayer s particular circumstances. What is a Mortgage Credit Certificate? A mortgage credit certificate ( MCC ) was designed to assist persons of low and moderate income to better afford their own home. The procedures for issuing MCCs were established as an alternative to the issuance of single family mortgage revenue bonds. As distinguished from a bond program, in a MCC program the mortgagor may take a tax credit in an amount equal to the annual amount of interest paid on the mortgage loan multiplied by the Mortgage Credit Certificate Rate. Currently, to maximize the benefit to the MCC applicants, the Mortgage Credit Certificate Rate for the Program is 50% but may not exceed $2,000 annually. As an example, an Applicant with a $200,000, 30 year, fixed rate mortgage (monthly payment has equal monthly installments of principal and interest) and a 3.50% interest rate could realize the following federal income tax savings (numbers are rounded): Example Mortgage Amount $200,000 Interest Rate 3.5% Monthly P & I $898 Total Interest Paid First 12 mos $7, Mortgage Credit Certificate Rate 50% Maximum First Year Credit Amount $2,000 During the first year of the Program, the Applicant in the example would be eligible for a tax credit of up to $2,000 if not limited by tax liability. The Applicant would be able to file a revised W-4 withholding form taking into consideration the anticipated tax credit and have approximately $166 per month in additional disposable income in the first year. Applying that savings to the monthly payment, decreases the payment to $732. In the example, 100% of the mortgage interest paid is $7,511 so 50% of the mortgage interest paid is $3,755. Because the credit rate is 50%, the amount that may be claimed as a credit is capped at

11 HFA of Hillsborough County Multi- County First-Time Buyer Program Page 11! $2,000. According to IRS instructions on Form 8396, the amount of allowable mortgage interest deduction on Schedule A is determined by reducing by the amount on Line 3 of Form 8396 ($2,000). So the total mortgage interest paid in the first 12 months was $7,511, subtract $2,000 and the remaining $5,511 may continue to be used as a deduction. The tax credit amount of $2,000 may be used as a tax credit after all other deductions and credits have been applied and to the extent there is tax liability. If not all of the $2,000 can be used because there is not enough tax liability, it may be carried forward for up to three years. However, it cannot be added to the allowable mortgage interest deduction. Borrowers who receive an MCC and who continue to own and occupy the financed home will be eligible for a tax credit each year for the term of the loan. The amount of the credit actually claimed on the MCC holder s federal income tax return cannot exceed the amount of federal income taxes due after other credits and deductions have been taken into account. For example, if after taking into account other tax credits and deductions, a borrower only owes $1,100, he or she cannot use the MCC tax credits in an amount in excess of $1,100. In this example, the unused $900 MCC related tax credit can be carried forward up to three years to be applied against future income tax liability. A purchaser of a new or existing single family home may apply for a MCC through any participating mortgage lender at the time he or she applies for a mortgage from the lender. A MCC cannot be issued to a homebuyer who is refinancing an existing mortgage or in connection with a mortgage from a relative. Also, an MCC cannot be used in connection with a bond program. It s important to note that all or a portion of the MCC related tax credit may be subject to recapture if the Residence is sold within the first full nine years of purchase. This tax credit recapture is further explained in the Notice of Potential Recapture Tax and in the Recapture Tax brochure provided to an applicant. It is important that borrowers understand the MCC and consider getting more information from their tax professional or the IRS. What is the lender involvement? Simply follow the guidelines for the first mortgage. The Lender is responsible for filing a form with the IRS in each year in which they originate loans for which MCCs are issued, and for keeping certain records regarding the MCCs. For participating lenders, the annual form will be forwarded via by the Program Administrator for execution and filing by the Lender. MCC Homebuyer Benefit The MCC can reduce the amount of federal income taxes; however, the tax benefit cannot exceed the amount of federal taxes owed for the year after other credits and deductions have been taken. But unused credit may be carried forward for up to three years. Borrowers will have to adjust federal income tax withholding in order to receive the MCC benefit on a monthly basis. This adjustment is accomplished by the borrower speaking to their payroll department at their place of work. By reducing monthly withholding, they will have more disposable (after tax) income with which to make mortgage payments. The benefit of the MCC program continues for the

12 HFA of Hillsborough County Multi- County First-Time Buyer Program Page 12! term of the mortgage as long as the holder of the MCC continues to own and occupy the home under the mortgage for which the MCC was issued. What does the Homeowner have to do to claim the benefit with the IRS? Each year the homeowner files Form 8396 with their federal income tax return. The form is available on the IRS website. MCC Special Rules MCC S in this program qualify for re-issuance if the first mortgage loan is refinanced. Contact the Program Administrator for more information and current charges. Process the first mortgage following these guidelines. After closing, simply follow the compliance file checklists. There are separate checklists for the first mortgage and for the MCC. The MCC and Final Recapture Notice will be issued by the Program Administrator via mail sent to the borrower at the property address once the compliance file is approved. Each January, the Program Administrator will provide the Lender with the required IRS reporting form for each year in which the Lender originates loans with MCC s.

13 HFA of Hillsborough County Multi- County First-Time Buyer Program Page 13! FIRST MORTGAGE PROGRAM REQUIREMENTS Eligible Borrowers Buyers and their spouses (occupant and non-occupant) must be first-time buyers but must be able to permanently reside in the US. Follow Agency (FHA, VA, USDA-RD, Freddie Mac) and U.S. Bank guidelines for non-citizens. (Added 05/19/17) Buyers must live in the property they purchase as their principal residence. All applicants must be considered irrespective of age, race, color, religion, national origin, sex, marital status, military status or physical handicap. Buyers must occupy the property purchased within 60 days of closing. The past three years federal income tax transcripts are required for all borrowers and spouses. Extensions are not acceptable. With a Freddie Mac HFA Advantage Conventional Loan, a borrower CANNOT own other property at the time of closing. Veterans Exception The veterans exception waives the requirement for the past three years tax transcripts and that borrower s be first-time buyer s. For the Veterans Exception, a veteran is defined as "a person who served in the active military, naval, or air service, and who was discharged or released therefrom under conditions other than dishonorable." The Mortgagor Affidavit has a paragraph that must be checked that states: Mortgagor (Co-mortgagor) meets the requirements to qualify as a veteran as defined in 38 U.S.C. Section 101 and has not previously obtained a loan financed by single family mortgage revenue bonds utilizing the veteran exception to the first-time homebuyer requirement set forth in Section 416 of the Tax Relief and Health Care Act of Attached hereto are true and correct copies of my discharge or release papers, which demonstrate that such discharge or release was other than dishonorable. Targeted Areas Borrowers purchasing in targeted areas do not need to be first-time buyers. And do not need to submit the past three years tax transcripts. Targeted areas are determined by census tract number provided by HUD specifically for this program. Targeted areas are considered either economically distressed or have very low loan origination. The following census tracts constitute the HUD targeted areas for this program -- Rev Brevard County: , , , Clay County - No targeted area census tracts Duval County: , , , , , , , , , , , , , , Hillsborough County: , , , , , , , , , , , , , , , , , , , , , , , , , , 0139,14 First Mortgage Eligible Areas Brevard County, Clay County, Duval County and Hillsborough County, Florida.

14 HFA of Hillsborough County Multi- County First-Time Buyer Program Page 14! Homebuyer Education First-Time Homebuyers, unless qualifying under a Veteran's Exception or those who are exempt by purchasing a home in a Federally Designated Targeted Area as specified in the this Program Guide, must complete a Program-approved pre-purchase homebuyer education course. We will accept face-to-face homebuyer education if provided by a HUD approved counseling agency, a unit of local government that provides pre-purchase homebuyer education in FL, or a counseling agency designated by a unit of local government to provide homebuyer education on their behalf. Refer to HUD link below for a list of approved education providers by county. Online HBE is permitted if provided by a HUD approved agency, a unit of local government that provides pre-purchase homebuyer education in FL, a mortgage insurance provider, or an Agency or GSE sponsored course. Homebuyer education provided over the phone or by the lender is NOT acceptable. Certificates of completion are acceptable for 2 years from the date of completion. Helpful links to provide to homebuyers: Approved Face-to-Face education providers: Face to face from a HUD approved education provider Approved Online education providers: Online education from ehomeamerica Freddie Mac Credit Smart HomeTRAK online education: Online education from MGIC (Instruct your borrower to look for: MGIC Homebuyer Education for Freddie Macs Home Possible Program and certain HFA's): English Spanish: (Rev 08/04/17) Minimum Credit Score Buyers must have a minimum FICO credit score of 640 for FHA, Freddie Mac, VA and USDA:RD (the mid score must be the minimum or above). If an Agency (FHA. VA, etc) has a higher minimum, follow Agency guidelines. If a participating lender has a higher minimum for other loans and wishes to require a higher minimum for bond loans, then lenders must use the higher minimum. (Rev 05/19/17) DTI Requirement The maximum DTI ratio is 45% for Government loans (FHA, VA, RD). And the maximum DTI ratio is 50% for the Freddie Mac HFA Advantage Conventional Loan. Reference US Bank Bulletin for additional information. (Rev 01/24/18) Minimum Borrower Contribution - Clay County only Minimum borrower contribution requirement removed, effective October 15, 2014.

15 HFA of Hillsborough County Multi- County First-Time Buyer Program Page 15! HOUSEHOLD INCOME CALCULATION Include income of borrower(s) and spouse (occupants and non- occupants) and any person who will live in the household who is 18 years of age or older. Bond program income is not averaged. It is annualized. That s different from income used for credit underwriting. More detailed guidance for calculating program income is located in this guide in the area titled Compliance Underwriting. County HOUSEHOLD INCOME LIMITS HOME SWEET HOME PROGRAM FHA, VA, RD and FREDDIE MAC LOANS Effective for 1003 all loan applications dated and after. 1-2 person household Non-Target 3 or more person household Non-Target 1-2 person household Target 3 or more person household Target Brevard $61,700 $70,955 $74,040 $86,380 Clay $69,176 $79,552 $75,960 $88,620 Duval $70,178 $80,705 $77,880 $90,860 Hillsborough County Income limits effective with new loan reservation May 21, 2018 and after. County 1-2 person household Non-Target 3 or more person household Non-Target 1-2 person household Target 3 or more person household Target Hillsborough $59,800 $68,770 $71,760 $83,720

16 HFA of Hillsborough County Multi- County First-Time Buyer Program Page 16! HOUSEHOLD INCOME LIMITS AFFORDABLE INCOME SUBSIDY GRANT FREDDIE MAC LOANS ONLY Reservations 07/29/18 and after (Rev 07/23/18) County 80% AMI 50% AMI Brevard $51,840 $32,400 Clay $55,920 $34,950 Duval $55,920 $34,950 Hillsborough $51,120 $31,950 HOUSEHOLD INCOME LIMITS AFFORDABLE INCOME SUBSIDY GRANT FREDDIE MAC LOANS ONLY Reservations 01/24/18 thru 07/28/18 (Rev 07/19/18) County 80% AMI 50% AMI Brevard $49,360 $30,850 Clay $51,520 $32,200 Duval $51,520 $32,200 Hillsborough $47,840 $29,900 ACQUISITION LIMITS (Sales Price Limits) FOR ALL LOANS The program refers to Acquisition Limits - in most cases this is the Sales Price and is never FHA Acquisition limits. The acquisition has to include everything paid by the buyer or on the buyer s behalf. Effective for all 1003 loan applications dated and after. County Non-Targeted Areas Targeted Areas Brevard $253,809 $310,211 Clay $298,192 N/A Hillsborough $253,809 $253,809 Duval $199,999 $199,000

17 HFA of Hillsborough County Multi- County First-Time Buyer Program Page 17! The Acquisition cost is defined as follows: The cost of acquiring residential property as a completed residential unit, including: all amounts paid, either in cash or in kind, by the mortgagor or a related party for the benefit of the mortgagor to the seller(s); or related parties for the benefit of the seller(s) as consideration for the residential property. The following costs are excluded: (1) those settlement costs and financing costs that are usual and reasonable and that would be paid by the mortgagor where financing is not provided through a qualified mortgage bond issue; (2) the value of any services performed by the mortgagor and family members in completing a dwelling unit on the residential property; and (3) the cost of any land that was owned by the mortgagor for at least two years prior to the construction of a dwelling unit on the residential property. (Added 01/24/18) Property Requirements New or existing, one to four unit*, detached or attached, condos** and town homes. Homes are considered new if never previously occupied. Mobile, recreational, seasonal or other types of vacation or non-permanent homes are not permitted. (Rev 11/04/15) Manufactured Homes - As of December 1, 2015, U. S. Bank will not purchase loans for manufactured housing. U.S. Bank considers manufactured housing: A manufactured home is a mobile home built entirely offsite on a permanent chassis that is pulled on the highway to a permanent location. Modular, panelized or prefabricated homes are not considered manufactured housing. (Rev 12/1/15) Land may not exceed the size required to maintain basic livability. Properties purchased in the program must be residential units. No more than 15% of the square footage of the home being purchased may be used in connection with a trade or business including Child Care services (other than incidental rental from eligible multiunit structures). Please note that existing 2, 3 and 4 family must be at least 5 years old. The mortgagor must reside in one unit of the property. * Freddie Mac HFA Advantage Loans - One Unit property ONLY ** When using the Freddie Mac HFA Advantage conventional loan for a condo, LTVs from 95.01% to 97% are acceptable, the project must be approved by US Bank and must meet Freddie Mac guidelines. Review US Bank bulletin Condominium Guideline Expansion for complete details. (Rev 04/19/18) The Internal Revenue Service and the HFA of Hillsborough County and participating jurisdictions have requirements that are reviewed for compliance. It s the responsibility of lenders to review program documents and to originate loans that meet the requirements. The Master Servicer is not obligated to purchase loans that do not comply with program terms.

18 HFA of Hillsborough County Multi- County First-Time Buyer Program Page 18! FINANCING FACTS It s expected that lenders have reviewed some preliminary documentation and believe that applicants will also qualify for credit. Excessive cancellations will be reviewed to assure that allocation is not being utilized inappropriately. FHA, VA, RD and Freddie Mac HFA Advantage conventional loans are permitted. Find the specific government and conventional loan products permitted on the US Bank website. (Rev ) Check with your underwriter for updates to information for Freddie Mac HFA Advantage. Such information is provided by a third party (i.e.freddie Mac, U.S. Bank, etc) who do not provide updated information to ehousingplus. (Added ) Freddie Mac HFA Advantage Fact Sheet: hfa_factsheet.pdf (Added ) Appraisal The appraisal must indicate that the home has at least a 30 year remaining useful life. Asset Test All available assets are not required to be used in this program. Assumptions First mortgage loans may be assumed by a qualified borrower meeting qualifying requirements, income and acquisition price restrictions in place at the time of the assumption. Such loans must continue to fully comply and be insured or guaranteed by the insurer/guarantor or the mortgage insurer. Buy downs Limited to 1 or 2 years with a maximum change of 1.00% per year. Cannot be paid by borrower or any of their assistance. Cash Back (all counties) Cash Back to the borrower is not permitted. However, borrowers are permitted a reimbursement of prepaids and reimbursement of overage of earnest money deposit to the extent any minimum contribution has been satisfied and permitted by Agency guidelines. (Rev 07/20/16) Construction to perm Construction to perm loan type is not permitted. See Refinance below. Co-signers (FHA, VA, USDA-RD)- Are permitted to the extent allowed by applicable Agency (FHA,etc). Treat co-signer income as directed by agency. A co-signer cannot have any ownership interest in the property (they cannot be on the mortgage/deed/warranty deed). And a co-signer may not live in the property. (Added ) Co-signers (Freddie Mac) - Not allowable. (Added ) Disclosure Requirements The second mortgage will require a second HUD-1 settlement statement at closing. (Revised 10/2/15) Documentary Stamp and Intangible Tax LOAN RESERVATIONS PRIOR TO 07/01/18. First and second mortgages and notes are NO LONGER exempt from doc stamp and intangible tax applications dated prior to 7/01/15 may take the exemption. Also, deeds continue to not be exempt. Sellers must pay the fee on the deed. Only in cases of an REO of FHA, VA, USDA, Freddie, Fannie or bank, may the buyer pay the fee on the deed. (Rev 7/23/18)

19 HFA of Hillsborough County Multi- County First-Time Buyer Program Page 19! Documentary Stamp Tax/Intangible Tax LOANS RESERVED 07/01/18 AND AFTER Review pages of this guide for the new Documentary Stamp exemption for first and second mortgages. And the new Intangible Tax exemption for the second mortgage. (Rev 07/23/18) Final Typed Loan Application (1003) The typed application signed and dated by all parties is required. Loan interviewer must complete and sign page 3 of 4 of the If this is not possible, then an Officer must sign in place of the interviewer. All persons taking title to the property must execute all program documents. The income disclosed on the Affidavit must be the same or more than that shown on the The purchase price, loan amount, and other financial details must be the same as shown on all other documents. Freddie Mac Loan Level Price Adjustment and Adverse Market Fees. These fees have been waived. (Added ) Manual Underwriting - See U.S. Bank bulletin and and note that with new reservations as of January 1, 2016, FHA loans may be manually underwritten. Rev Minimum Loan Amount There is no minimum loan amount in this program. Prepayments The first and second mortgage may be prepaid at any time without penalty. Real Estate Purchase Contract The full address of the property, full names of all sellers and buyers, total purchase price of the property must be included. If there is not an address for new construction, a lot number and subdivision name are required. All named persons must sign. Include the name and title whenever a representative is signing for a corporation. Refinances This program is intended for new mortgage loans. Remaining Reserves Not established by the program. If any, these are determined by the type of financing used (i.e. FHA, VA.). Tax Returns or Tax Transcripts or any combination Tax returns or tax transcripts or any combination of returns or transcripts for the preceding year are due April 15 of the current year. The past three years tax returns/transcripts are required for borrowers and spouses. Not required for those buying in Targeted Areas or those purchasing under the Veteran s Exception. Requests for Extensions are not acceptable in lieu of tax returns/transcripts. THE FOLLOWING ALSO APPLIES TO MCC LOANS: Recapture Tax The conditions of repayment of the federal subsidy of these loans is explained in a separate brochure provided on the Website. Basically, if the property is disposed of in the first full nine years AND a net profit is made AND the borrowers income exceeds the income limits allowed at time of sale, recapture tax may have to be paid with the federal income tax return for the year in which the home is sold. Reissuance of MCC s If the first mortgage loan is refinanced, the MCC may be reissued. Contact the Program Administrator for all details in place at the time of the reissue.

20 HFA of Hillsborough County Multi- County First-Time Buyer Program Page 20! LENDER TRAINING REQUIREMENTS MANDATORY PROGRAM TRAINING FOR LENDERS Lender training is mandatory for anyone working with this program. ehousingplus provides program training online 24/7. To attend, click here. ehousingplus LENDER PORTAL SYSTEM TRAINING Conducted once a week via live WebEx with the ehousingplus Compliance Office. Anyone who will need access to the ehousingplus Lender Portal for the MCC program will need to attend. Training lasts 45 to 60 minutes. Click here to register to attend. LENDER PORTAL USER CREDENTIALS After completing Program training an attendee will receive a follow-up with instructions to apply for user credentials. If you need assistance please contact trainer@ehousing.cc

21 HFA of Hillsborough County Multi- County First-Time Buyer Program Page 21! SUMMARY OF THE COMPLIANCE ORIGINATION PROCESS QUALIFY Lenders use program requirements to qualify applicants for the program. Buyers must present an executed sales agreement before being entered into the program reservation system. PROCESS Lenders process the loan as they would normally keeping in mind the program timeline. Please do not reserve funds too soon. Wait to reserve until you are relatively sure your underwriter will approve the loan within 15 days of reservation in the ehousingplus Lender Portal. RESERVE FIRST MORTGAGE FUNDS To reserve funds in program s online system click on this link. Log in and reserve the first mortgage. To reserve funds in the program the borrower is required to have a signed real estate purchase contract for a specific address. You will need a 1003 and the Real Estate Purchase contract in order to make a reservation. If the reservation is successful, you will receive a loan number and a message that you ve completed the reservation successfully. RESERVE SECOND MORTGAGE ASSISTANCE Immediately following reservation of the Home Sweet Home first mortgage click on the Add Additional button found on the main menu to reserve the second mortgage funds. All fields will populate except for the second mortgage loan amount. Enter the loan amount and then click on the Update button to add the second mortgage assistance to the first mortgage loan reservation. (Added 01/24/18) DUVAL COUNTY AND HILLSBOROUGH COUNTY BORROWERS (MANDATORY) RESERVE MORTGAGE CREDIT CERTIFICATE The Mortgage Credit Certificate is a completely separate reservation and is mandatory for all borrowers in Duval County and Hillsborough County. Log in and choose the applicable MCC program (Hillsborough MCC, Jacksonville MCC) and reserve the MCC. To reserve funds in the MCC program the borrower is required to have a signed real estate purchase contract for a specific address. You will need a 1003 and the Real Estate Purchase contract in order to make a reservation. If the reservation is successful, you will receive a loan number and a message that you ve completed the reservation successfully. (Moved and Updated 01/24/18) RESERVE AFFORDABLE INCOME SUBSIDY (AIS) GRANT INCOME QUALIFIED FREDDIE MAC HFA ADVANTAGE LOAN ONLY To reserve the Affordable Income Subsidy Grant funds, immediately following the second mortgage loan reservation, click on the Add Additional tab. The lender will be responsible for calculating the amount of the additional subsidy based upon borrower AMI (view AMI limits on page ) and enter that amount in the ADDITIONAL LOAN tab. The subsidy must be for the exact amount ($1,500 or $2,500) based upon borrower AMI - no more and no less. Follow the details step-by-step instructions on the next page. (Added 04/19/18)

22 FREDDIE MAC AIS GRANT STEP-BY-STEP RESERVATION INSTRUCTIONS 1. Click on ADD ADDITIONAL 1 Hillsborough 2012 SF Program ConvenAonal w/60 day lock FreddieMac HFA Advantage AHer you click on ADD ADDITIONAL you will see the below. 2. Select one of the opaons Hillsborough 2012 SF 0.00% DPA Assistance DPA Second AHer you select one of the opaons, you will see the below. 3. Click on New AddiAonal Loan Hillsborough 2012 SF Program 0.00% DPA Assistance DPA Second 4. Enter the calculated loan amount Hillsborough 2012 SF ENTER THE LOAN AMOUNT Buyers at or below 50% AMI = $2,500 Or Buyers at or below 80% AMI = $1,500

23 HFA of Hillsborough County Multi- County First-Time Buyer Program Page 23! PROCESS Lenders process the loan as they would normally keeping in mind the program timelines. The Borrower signs the Notices to Buyers and must receive the Recapture Tax Brochure as close to loan application as possible. UNDERWRITE AND CERTIFY Lenders underwrite & are responsible for credit decisions of the loans in the program. Servicer does not re-underwrite loans. Following credit approval AND WITHIN 15 DAYS OF LOAN RESERVATION, an Underwriter will complete the Underwriter Certification for (2) TWO separate reservations: 1) Underwriter Certification for the Home Sweet Home First Mortgage 2) Underwriter Certification for the Mortgage Credit Certificate (Mandatory for loans in Duval County and Hillsborough County ONLY) (Moved and Updated 01/24/18) REQUEST DPA ASSISTANCE FOR BREVARD, DUVAL, HILLSBOROUGH Lenders are required to submit a Wire Transfer Request Form a minimum of three (3) business days prior to any loan closing date. The Wire Transfer Request Form may be found in the secure section of the ehousingplus.com website. Underwriter Certification must be completed prior to the submission of the Wire Transfer Request Form. See pages of this guide for complete details. REQUEST DPA ASSISTANCE FOR BREVARD, DUVAL AND HILLSBOROUGH COUNTIES After the Underwriter Certification has been completed, and with a scheduled closing date, the Lender s authorized representative must fill out and execute the Down Payment Assistance Funding Request Form available in the system, under LOAN FORMS. The Request Form must be printed, signed, and scanned in pdf, jpg, tiff or png format. Three (3) business days prior to funding, the Lender sends a complete, executed pdf or scanned version of the DPA Funds Request Form to the following: For loans closing in Duval County or Hillsborough County (Rev. 11/24/14) Mark Hendrickson mark@thehendricksoncompany.com For loans closing in Brevard County Angela Abbott angelaabbott@cfl.rr.com Request Form Review Anything received by 2 pm EST will be verified that day. Requests received after 2 pm EST, will be processed by 12 noon EST the following business day. Special Attention will be given to Forms received on Fridays to ensure that they are sent before start of business on Monday. Any s received over the weekend will be processed on Monday and for Holidays on the next

24 HFA of Hillsborough County Multi- County First-Time Buyer Program Page 24! business day. The DPA Funds Request Form is reviewed by the HFA representative for accuracy. Lenders will be contacted if the Form cannot be verified. Verified forms are sent to the custodian agent. The custodian agent will wires funds to the closing agent. Funds are wired directly to the Closing Agent/ Title Company and NOT the Lender or Borrower. Please make sure that instructions are provided to internal Processor/Closer and to the Title Company/Closing Agent. REQUEST DPA ASSISTANCE FOR CLAY After the Underwriter Certification has been completed, and with a scheduled closing date, the Lender s authorized representative must fill out and execute the Down Payment Assistance Funding Request Form available in the system, under LOAN FORMS. Three (3) business days prior to funding, the Lender will fax a complete, executed PDF of the DPA Funds Request to Theresa Sumner: fax to Within 24 hours of closing, the Lender will fax Theresa Sumner a copy of the final executed HUD-1. The second mortgage must be recorded with the first. The recorded second mortgage must be delivered to Theresa Sumner within 30 days of closing. If not, the lender must remit the down payment assistance loan amount to the HFA. CLOSE Borrower executes the Affidavit (Mortgagor & Seller/Builder Affidavit & Lender Certificate) and the Down Payment Assistance Award letter. IT S IMPORTANT that lenders have the borrower(s) sign the DPA Award Letter that meets requirements of (appears in the auto-fill Forms available for closing). Lenders retain original, copies in their FHA Case Binder, to borrowers and to U.S. Bank (Rev 7/29/14) The second mortgage loan requires a second HUD-1 settlement statement at closing. (Added 10/2/15) CLOSE - BORROWER RECEIVING AFFORDABLE INCOME SUBSIDY GRANT The lender will fund the additional Affordable Income Subsidy (AIS) grant at closing. It is critically important that the lender does NOT combine the second mortgage assistance received from the HFA of Hillsborough County Home Sweet Home Program with the AIS grant on the CD. The AIS must be reflected on Page 3, Section L of the CD as Affordable Income Subsidy. This AIS Grant must be reflected in DU or LP findings, along with the Second Mortgage provided by the HFA of Hillsborough County Home Sweet Home Program. Any questions about the preparation of the CD should be directed to US Bank HFA Division The AIS grant must be used for down payment and closing cost assistance only. (Rev 04/19/18)

25 HFA of Hillsborough County Multi- County First-Time Buyer Program Page 25! RECORD - LOANS ORIGINATED IN BREVARD COUNTY ONLY For loans originated in Brevard County ONLY, the Second Mortgage and Note must be recorded as one instrument immediately following recordation of the First Mortgage. The Recorded Original Second Mortgage and Promissory Note must be delivered to the HFA of Brevard County within 30 days of closing to: HFA of Brevard County c/o Angela Abbott, P.A., 4420 S. Washington Avenue, Titusville, FL (Effective 1/8/15) RECORD - LOANS ORIGINATED IN DUVAL COUNTY ONLY For loans originated in Duval County ONLY, the recorded Original Second Mortgage and Second Promissory Note must be delivered to the Jacksonville Housing Finance Authority, within 30 days of closing to: Jacksonville Housing Finance Authority, 214 North Hogan Street, 8th Floor, Jacksonville, FL Attention: Finance Director. (Effective 1/8/15) RECORD - LOANS ORIGINATED IN HILLSBOROUGH COUNTY ONLY For loans originated in Hillsborough County ONLY, the Second Mortgage and Note must be recorded as one instrument immediately following recordation of the First Mortgage. The Recorded Original Second Mortgage and Promissory Note must be delivered to the HFA of Hillsborough County within 30 days of closing to: HFA of Hillsborough County c/o Hillsborough County Attorney's Office, 601 E. Kennedy Blvd., 27th Floor, Tampa, FL Attention: Mary Helen Farris. (Effective 9/2/14) SHIP / SUBMIT There are two (2) files shipped post closing: File #1 is the Compliance File and it is sent to ehousingplus. The Compliance File Checklist is found within the ehousingplus Lender Portal in the Loan Forms section. File #2 is the Mortgage File including Credit Package and it is sent to US Bank. The US Bank Delivery and Funding Checklist is found within the US Bank web site. To locate the US Bank Checklist click on this link: Click on US Bank Lending Manuals. Pop-up box will appear, click on Continue. Web page will be redirected to US Bank All Regs site. Click on Housing Finance Authority folder. UPLOAD SECOND MORTGAGE COMPLIANCE FILE LOANS ORIGINATED IN HILLSBOROUGH COUNTY ONLY In addition to sending a compliance file to ehousingplus, the lender must submit a Second Mortgage Compliance File and Case Summary Form directly to the HFA of Hillsborough County. The checklist and Case Summary Form may be found within the ehousingplus Lender Portal, in the LOAN FORMS section: Hillsborough DPA Checklist. The contents of the checklist AND Case Summary Form should be uploaded to the following ShareFile account:

26 HFA of Hillsborough County Multi- County First-Time Buyer Program Page 26! EXCEPTIONS Following review of Compliance File by ehousingplus. if there are exceptions, 1.Lenders will receive notice from ehousingplus via 2.Exceptions will be posted online. Exceptions may be viewed online in two places a. at the loan level and b. in an exceptions report Files with exceptions remain subject to the purchase timelines. EXCEPTIONS CONTINUED Loans are reviewed weekly by ehousingplus to assure compliance with timelines. Questions regarding exceptions should be directed to: US BANK also notifies lenders of Exceptions, posts exceptions online and sends a weekly summary of outstanding exceptions. APPROVALS Following approval of Compliance File by ehousingplus, lenders are notified and reminded of the purchase deadline. ISSUANCE OF MCC S/REISSUANCE OF MCC S All MCC s will be issued by ehousingplus including re-issuance of MCC s as a result of refinance and replacement of MCCs

27 HFA of Hillsborough County Multi- County First-Time Buyer Program Page 27! PROGRAM TIMELINE Buyers MUST HAVE A FULLY- EXECUTED SALES CONTRACT FOR A SPECIFIC PROPERTY in order to have funds reserved or be on a waiting list. The contract may be dated prior to the date of the loan application. Buyers may be pre-qualified. However, if the buyer does not have a contract on a property, BOND FUNDS MAY NOT BE HELD for the buyer until such time as the buyer presents a valid contract. To assure that loans are purchased, please follow the Processing, Delivery and Purchase Timetable. Please DO NOT reserve loans that cannot meet the timetable. This is particularly important with respect to new construction and short sales. Please wait to reserve funds. Loans not purchased within the timeframe below, cannot be purchased. Loan Processing, Delivery and Purchase Timetable Once a loan is reserved in the ehousingplus system and is provided the Servicer s Loan number, the loan must be; (1) underwriter certified within 15 days of loan reservation (Rev 2/19/16) (2) closed, delivered, exceptions cleared and loan purchased by the Servicer within 65 days of loan reservation Extension Request Any loan not purchased within 65 days is ineligible for purchase unless the lender chooses a onetime only 20-day extension. The cost of the extension is $375. The $375 extension penalty fee is due whether or not loans are ultimately delivered and/or purchased. The $375 will be netted by the Servicer when loans are purchased. If an extension is permitted, but the loan is not purchased, the originating lender will have 15 days from the date of notice from ehousingplus to pay the Issuer $375. A lender will be unable to make additional reservations in the Program until all extension fees have been paid to the Issuer. Again, the extension is offered once per loan and no further extensions will be allowed. Furthermore, regardless of choosing an extension, any loan not purchased within the approved timeframe will become the liability of the originating lender, including any down payment assistance provided at closing. An extension request is available on the ehousingplus web site and must be submitted BEFORE the 65th day. The extension request is completed and submitted online. Term of MCC Program By law the current election to use allocation for MCCs is available for loans closing through December 31, The Issuers may choose to allocate additional funds to another MCC program.

28 HFA of Hillsborough County Multi- County First-Time Buyer Program Page 28! PROGRAM FEES FIRST MORTGAGE FEES 1.00% that may be charged as Origination or Discount or a combination of both but the total may not be more than 1.00%. ehousingplus First Mortgage Fee (All Counties) The program includes a first mortgage Compliance/Admin Fee and a penalty fee of $100 for files that are chronically deficient. The Compliance/Admin Fee is collected at closing, payable to ehousingplus and submitted with the Compliance File. ONLY Cashier s or Corporate checks are acceptable and the fee may not be financed. (Rev 01/24/18) HFA of Hillsborough County Home Sweet Home Program Loan $300 HFA of Hillsborough County Home Sweet Home Program Loan AND Affordable Income Subsidy Grant $375 ehousingplus MCC Application Fee (All Counties EXCEPT Clay) The program includes an MCC Application Fee of $275 and a penalty fee of $100 for files that are chronically deficient. The MCC Application Fee is collected at closing, payable to ehousingplus and submitted with the Compliance File. ONLY Cashier s or Corporate checks are acceptable and the fee may not be financed. (Rev 9/26/15) Lender MCC Application Fee (All Counties EXCEPT Clay) The program includes a Lender MCC Application Fee of $100. The Lender MCC Application Fee is collected at closing. The Compliance/Admin Fee is the fee charged by the Program Administrator/Compliance Agent to process the applicant/borrower from Origination to Compliance Approval, and to assess that the lenders originating such loans are following Program guidelines for the benefit of the eligible borrower(s). The Program Administrator/Compliance Agent tracks the loan via its web-based system, and assists the lender in processing the loan ensuring eligibility to the program available offerings, which can include various rate options, and down payment assistance. (Added 10/15/15) The Compliance/Admin fee includes the review of information and documents delivered in the form of a Compliance File by the originating lender, on behalf of the borrower. Additionally the Compliance review verifies that the lender has charged only the fees allowed by the Program. Contrary to this, approval may be denied and/or fees may have to be reimbursed to the borrower. The compliance file processing consists of required affidavits, application, closing documents, certain non-mortgage documents, tax returns where applicable and other pre-defined Program documents that are disclosed to the potential borrower(s). This is required to ultimately receive Compliance Approval. These documents can support both the first mortgage and any down payment assistance available, and are required to ensure eligibility to the Program, Federal, State and Local requirements, where applicable. The Compliance review verifies that the data and documents submitted meet all requirements, and may include those for first-time homebuyer, income limits, sales price limits, targeted areas, homebuyer education, rate, term, points, fee limits, LTV, FICO score, special state, city, county program requirements for qualified military, first responders, teachers, etc.). (Rev 08/22/16)

29 HFA of Hillsborough County Multi- County First-Time Buyer Program Page 29! US Bank Fees LOAN RESERVATIONS APRIL 30, 2018 AND AFTER - $80 Tax Service Fee and $400 Funding Fee. These fees will be netted out at time of purchase by US Bank. See US Bank Bulletin L TAX SERVICE FEE CHANGE for further details. (Rev 04/19/18) LOAN RESERVATIONS PRIOR TO APRIL 30, $58 Tax Service Fee and $400 Funding Fee. These fees will be netted out at time of purchase by US Bank. See US Bank Bulletin L TAX SERVICE FEE REDUCTION for further details. (Rev 05/19/17) LENDER COMPENSATION 1.50% SRP at loan purchase by US Bank. Total lender compensation 2.50% - includes the 1.00% origination/discount fee. Effective with new loan reservations 09/06/13 and after. Lender Fees: Lenders are permitted to charge reasonable and customary charges for out of pocket expenses and costs. Other financing costs such as legal fees and underwriting fees may be charged and courier fees may be charged if such fees are normally charged. Lenders may charge the usual and reasonable settlement costs. Settlement costs include titling and transfer costs, title insurance, survey fees or other similar costs. Other allowable fees include doc prep fees, notary fees, hazard, mortgage and life insurance premiums, recording or registration charges, prepaid escrow deposits and other similar charges allowable by the insurer/guarantor. Junk" fees are not a defined term and may not be charged. Excessive fees are not permitted in the program.

30 HFA of Hillsborough County Multi- County First-Time Buyer Program Page 30! COMPLIANCE INCOME CALCULATION Underwriters should remember that CALCULATION OF PROGRAM (COMPLIANCE) INCOME IS DIFFERENT THAN CALCULATION OF INCOME FOR CREDIT PURPOSES. The Bond program requires that underwriters consider the income of borrowers and their spouses (regardless of their address) and all household members 18 years of age or older(related or unrelated). Use the information below as a general guide. Because each case is different, please contact Bond Compliance if you have questions. Unlike income that is averaged for credit underwriting, the bond program is concerned with actual current income. You should be reviewing the YTD income, the income of the last 4 months and the income shown on previous tax transcripts for consistency. You should not be averaging income. If there are not inconsistencies in earnings, use the guidelines for each loan type to determine current gross monthly income. Current gross monthly income is multiplied by remaining months in the year to determine "total current annualized income". For the tax year in which the closing occurs, consider YTD income. Then establish current base income for the balance of the year using the guidelines for each type of income. Then consider any additional income. For assistance, contact the Compliance Office. Gross monthly income is the sum of monthly gross pay; any additional income from overtime, part-time employment, bonuses, income from self-employment, dividends, interest, royalties, pensions, VA compensation and net rental income, other income (such as alimony, child support, public assistance, sick pay, social security benefits, unemployment compensation, income received from trusts, and income received from business activities or investments, continuation of which is probable based on foreseeable economic circumstances based upon the Mortgagor's Affidavit (to such effect), all as computed at the time of application for a mortgage loan and confirmed at the time of closing. We will check information with respect to gross monthly income obtained from the reservation form, Underwriter s Certification and applicable certificates and affidavits executed the date of the Closing of the Mortgage Loan, provided that any gross monthly income not included for credit underwriting purposes must be included in determining gross monthly income. The limit is the limit and any amount over the limit is not acceptable. Include the income of non-borrower co-habitants who will reside in the property. However, do not include (1) dependents that are claimed on tax transcripts but who will not permanently reside in the home the majority of the time and (2) co-signers. The Affidavit, executed by the borrower(s), and certified by the lender, must include the total verified annual household income. This program considers HOUSEHOLD INCOME not income of the borrower. Household income includes the income of borrower, spouse. Remember if persons are not divorced they are married. We count the income of the spouse whether they reside in property or not. Also include the income of all who will reside in the home 18 years of age or older (children, parents on social security, etc). Questions regarding the calculation of income for bond program purposes should be directed to the Compliance office There are many variables and the Compliance office will be pleased to assist.

31 HFA of Hillsborough County Multi- County First-Time Buyer Program Page 31! The Servicer requires the complete closing and credit documentation as identified on their specific loan delivery checklists. Lenders may rely on the same documentation for program compliance purposes.although mentioned in this section of the guidelines, VOE s and VOD s, current pay stubs which delineate current period, W-2's, for all borrowers from all employers, and bank statements to verify assets may be included to the extent required by the Servicer for their purposes. Figures shown on all documents should be consistent. (Rev 11/21/15 Effective 12/1/15) Because a program qualifier is income, even if not required for credit purposes (i.e. automated underwriting), you should be seeking the two most current paystubs with YTD. Do not include in the compliance file, keep copies for your records. Although reference is made to the last 4 to 6 weeks income, Underwriters should be reviewing the income tax returns submitted to verify that there are no unexplained and/or unacceptable differences current income to past income. Examples below not intended to serve as exclusive methodology. office with questions regarding individual cases. Please contact the Compliance Please note that the income reported for bond income calculation CAN NEVER BE LOWER THAN THE INCOME USED TO QUALIFY FOR CREDIT PURPOSES. Hourly Employees For the tax year in which the loan is closing, use the Year to Date base income. If consistent, utilize the base to determine the balance of the year by 1.Using last 4 to 6 weeks' pay stubs, identify hourly rate of pay and average number of regular hours worked per week. Multiply hourly rate times regular weekly hours. Multiply result times number of weeks for balance of year and add to YTD for an annualized base salary. 2. If the person has no other sources of income (for example: overtime, bonus, commissions, second jobs, interest, dividends, child support, alimony, public assistance), this will be the Current Total Annual Income. 3. Compare the total annual income in #2 above to Paystubs, VOE s, previous year s income per W2's and tax returns. You should not find significant differences. In some cases, the Current Total Annual Income will be higher than the previous year's income. Variances should be attributable to increases/decreases in pay or number of hours worked. You should not find significant differences. In some cases, the Current Total Annual Income will be higher than the previous year's income. Variances should be attributable to increases/decreases in pay or number of hours worked.

32 HFA of Hillsborough County Multi- County First-Time Buyer Program Page 32! Salaried Employees 1. Using last 4 to 6 weeks' pay stubs, identify weekly (or other frequency) rate of pay. Multiply rate times the number of regular pay periods in the year (52 weeks, 12 months, 24 semi-months) 2. If the person has no other sources of income (for example: overtime, bonus, commissions, second jobs, interest, dividends, child support, alimony, public assistance), this will be the Current Total Annual Income. 3. Compare the total annual income in #2 above to Paystubs, VOE s, previous year s income per W2's and tax returns. You should not find significant differences. In some cases, the Current Total Annual Income will be higher than the previous year's income. Variances should be attributable to increases/decreases in pay or number of hours worked Business, Self Employment 1. Use the quarterly tax returns and financial statements to identify the current NET year to date income. 2. Divide the year to date income by the number of months during which it was earned and multiply times remaining number of months in year. Add to actual YTD. ADD DEPRECIATION. 3. If the person has no other sources of income (for example: overtime, bonus, commissions, second jobs, interest, dividends, child support, alimony, public assistance), this will be the Current Total Annual Income. 4. Compare the total annual income in #2 above to the previous year's income per W2's and tax returns. You should not find significant differences. Verified Termination of Overtime, Commission, Bonus, Seasonal, Periodic, One Time Overtime, Bonus, Commissions Using last 4 to 6 weeks' pay stubs, identify the year to date total earnings of the borrower. Subtract the Current Total Base Income (see above) to arrive at the total year to date extraordinary income. If verification of termination of overtime, commission or bonus is provided in writing (i.e. a letter from an employer) or such termination is due to a change of employment, use the current YTD overtime, commission or bonus, do not annualize and add as a lump sum to the Current Total Annual Income. Regular Overtime, Bonus, Commissions 1. Using last 4 to 6 weeks' pay stubs, identify the year to date total earnings of the borrower. Subtract the Current Total Base Income (see above) to arrive at the total year to date extraordinary income. 2. Divide the year to date extraordinary income by the number of pay periods during which it was earned (to obtain an average). Multiply times the appropriate factor (Balance of year weeks, months, semi- months, etc.) for balance of year figure and add to actual YTD extraordinary income for annual income. 3. If the person has no other sources of income (for example: second jobs, interest, dividends, child support, alimony, public assistance), this will be the Current Total Annual Income. 4. Compare the total annual income in #2 above to Paystubs, VOE s, previous year s income per W2's and tax returns. You should not find significant differences. In most cases, the Current Total Annual Income will be higher than the previous year's income. It will also generally be higher than the annualized year to date income. The variances should be attributable to increases/decreases in pay.

33 HFA of Hillsborough County Multi- County First-Time Buyer Program Page 33! Interest, Dividends 1. Use current earnings statements issued by the bank, investment broker or agent. Identify the year to date interest or dividend earnings. Divide by the investment term year to date (for an average) and multiply times appropriate factor to annualize the earnings. 2. If statements are not available, and the terms of the investment agreement are available, multiply the principal amount of the asset times the annual interest yield factor for a projected interest earnings amount. 3. If neither are available, use the previous year's earnings statements or tax returns to identify total annual interest and dividend income. If the assets are still invested in the same instruments, use the previous year's figure. 4. Add the result of the computation in either #1, #2 or #3 above to the Current Total Annual Income. Alimony, Child Support 1. Use the monthly amount appearing in the divorce decree, separation agreement or other support document. 2. If the borrower receives more than the amount stipulated in the agreements, use the monthly figure that the borrower declares and can be verified. 3. If the borrower receives less than the amount stipulated in the agreements and there is a verifiable history of the underpayments for at least 2 years (as evidenced by Court records), then use the past 2 years' historical monthly earnings. If there is no such history that can be verified, use the amount stipulated in #1 above. 4. Multiply the monthly amount of alimony or child support times 12. Add to the Current Total Annual Income (plus any other income sources). Pensions, Temporary Payments 1. Use the benefits statement issued by the benefits provider (pensions, workers compensation, disability compensation, social security, AFDC, etc.) to identify the amount of the benefit, payment frequency and expected term of the benefit. 2. Multiply the amount of the benefit times the payment frequency for the balance of year and add to actual YTD for an annualized amount. Add to the Current Total Annual Income (plus any other income sources). 3. If the benefit is absolutely not payable to the recipient beyond a given date (that means a complete and permanent stop of benefits without extensions, exceptions, waivers or other conditions) and such date is within 12 calendar months of the anticipated closing date, then calculate the benefits expected through the end of the benefits term. That will be the total annual income amount from the specific benefits source. Add to the Current Total Annual Income (plus any other income sources). Boarder s Income and Rental Income in One Unit Properties The Boarder s wages/income and rental income paid to the borrower must be included in the bond calculation of income. Rental Income from 2-4 Unit Properties Anticipated rental income from the property being purchased is not included in the bond calculation of income but may be treated as detailed in Agency (FHA, VA, Freddie, etc) guidelines. If the borrower s own other rental property from which income is derived, that income must be included in the bond calculation of income.

34 HFA of Hillsborough County Multi- County First-Time Buyer Program Page 34! PROGRAM FORMS PLEASE NOTE - SEPARATE COMPLIANCE PACKAGES ARE USED FOR THE HFA FIRST MORTGAGE PROGRAM AND THE MCC. The program forms are generated directly from the ehousingplus Lender Portal at the loan level. The program forms MUST be printed from the Lender Portal. It is not acceptable to re-create program forms. (Added 10/15/15) All forms are available behind security in the ehousingplus Lender Portal. The forms are behind security so that system data is accessed when the forms are printed. The forms auto-fill and are ready for execution. It s important that Underwriters and Closers are certain that the data in the system is correct before forms are printed. The simple rule of who signs program forms if the person is named on the Mortgage or Warranty Deed or is the spouse of the Mortgagor (even if a non-borrowing spouse), they sign the compliance forms. Also, remember Cosignors cannot live in property, do not sign program documents or take title. Under no circumstances may a cosigner have an ownership interest. Original, personal signatures of all borrowers and sellers are required and must match on all documents associated with the transaction. Whenever a party is known in any of the documents by more than a single name, a Name Affidavit Will Be Required. Powers of Attorney and/or Personal Representatives for the Borrower Are Not Acceptable. Exception: Active Duty Military Personnel may provide an Alive and Well letter. DOCUMENTS REQUIRED FOR THE COMPLIANCE FILE (Rev 9/26/15) (Effective for loan applications dated 10/03/15 and after) ehousingplus has developed a checklist to be utilized after closing to assemble the Compliance File that is delivered to ehousingplus. The checklist is located in the ehp Lender Portal in the Loan Forms area. PLEASE SUBMIT ONLY COMPLETE FILES IN AN ACCO-BOUND FILE FOLDER IN THE EXACT ORDER SHOWN BELOW. INCOMPLETE AND NON ACCO-BOUND FILES WILL BE RETURNED AT LENDER EXPENSE. The Compliance Checklist Compliance/Admin Fee ORIGINAL OR CERTIFIED TRUE ONLY OF THE FOLLOWING: SIGNED Notices to Buyers SIGNED Affidavit - Mortgagor & Seller/Builder Affidavit & Lender Certificate COPIES OF THE FOLLOWING: Signed Income Tax Returns or Transcripts or any combination Homebuyer Education Certificate Real Estate Purchase Contract FINAL SIGNED 1003 FINAL SIGNED CLOSING DISCLOSURE (TRID form) Warranty Deed Discharge papers (DD214) only if Veteran is qualifying under the Veterans Exception THE COMPLETE ACCO-BOUND COMPLIANCE FILE FOLDER IS SUBMITTED TO: ehousingplus 3050 Universal Blvd., Suite 190 Weston, FL 33331

35 HFA of Hillsborough County Multi- County First-Time Buyer Program Page 35! US Bank HFA Division Help Desk Use the U.S. Bank All Regs website for: Underwriting, delivery and funding information Training U.S. Bank Manuals U.S. Bank Bulletins Delivery Checklists US BANK WEBSITE Click on this link: Click on US Bank Lending Manuals Pop-up box will appear, click on Continue Web page will be redirected to US Bank All Regs site. Click on Housing Finance Authority folder Click Florida Click HFA of Hillsborough County

36 HFA of Hillsborough County Multi- County First-Time Buyer Program Page 36 HILLSBOROUGH COUNTY HOUSING FINANCE AUTHORITY Board Members: c/o Mary Helen Farris, Esq. Michael F. Kelley, Chairman Hillsborough County Attorney's Office David A. Hollis, Vice Chairman 601 East Kennedy Blvd., 27th Floor Edward A. Busansky, Secretary Tampa, FL Frank D. DeBose Mercedes B. DiMaio Harry S. Hedges Debra F. Koehler Dear Lenders: The Housing Finance Authority of Hillsborough County, Florida is a proud member of the Florida Association of Local Housing Finance Authorities, which worked hard to encourage the Florida Legislature to enact legislation to allow housing finance authority first mortgages to be exempt from the Florida documentary stamp tax. We are so pleased that the Legislature enacted Section (2), Florida Statutes, because of their efforts! The great news is that the new statute provides the exemption for first mortgages made by or on behalf of a housing finance authority. The not so great news is that to qualify for the exemption, an affidavit identifying the first mortgage as a housing finance authority first mortgage must be recorded with the first mortgage. The first mortgage payable to the Lender must be recorded with an affidavit. The affidavit can be executed by the Authority or an agent of the Authority. The Authority has authorized designating both the lenders and the mortgagors as its agents for purposes of executing and recording the affidavit. We believe that it will be easiest for the affidavit to be executed by the mortgagors and notarized in the same manner as the signature page of the first mortgage, and then recorded immediately prior to the first mortgage at the time of closing. The Administrator for the Authority s Single Family TBA program (which includes loans originated in Brevard, Clay and Duval counties) will include a form of affidavit for the first mortgages in the on-line system. We are asking you as the lender (or with your loan processor), to fill out the affidavit for execution by your mortgagors. We have attached the form of the affidavit, along with detailed instructions on how to fill out the affidavit as Exhibit A.

37 HFA of Hillsborough County Multi- County First-Time Buyer Program Page 37 Don t forget: As of July 1, our first mortgage is exempt from the Florida documentary stamp tax (if an affidavit is recorded with the first mortgage), but is not exempt from the nonrecurring intangible tax. Please remember to adjust your numbers to take this into account. To qualify for the documentary stamp tax exemption, the first mortgage must be recorded with an affidavit. You as Lender (or your loan processor) will prepare the affidavit for execution by your Mortgagor. The form of the affidavit for the first mortgage along with instructions for completing it, is attached hereto as Exhibit A. Please let your loan processors and closing agents know that the affidavit relating to the first mortgage should be recorded immediately prior to the first mortgage. Thank you for being a great partner! We love what you do for our community. HOUSING FINANCE AUTHORITY OF HILLSBOROUGH COUNTY, FLORIDA Mark Hendrickson, Executive Director mark@thehendricksoncompany.com

38 HFA of Hillsborough County Multi- County First-Time Buyer Program Page 38 EXHIBIT A - AFFIDAVIT REGARDING EXCISE TAX EXEMPTION FOR FIRST MORTGAGES AFFIDAVIT OF THE HOUSING FINANCE AUTHORITY OF HILLSBOROUGH COUNTY, FLORIDA REGARDING EXEMPTION FROM DOCUMENTARY STAMP TAX PURSUANT TO SECTION (2), FLORIDA STATUTES FOR FIRST MORTGAGE STATE OF FLORIDA COUNTY OF (1) DO NOT RE-TYPE, THIS FORM MAY ONLY BE PRINTED DIRECTLY FROM THE EHOUSINGPLUS LENDER PORTAL. The undersigned authorized representative of the MORTGAGOR named below, hereby affirms: 1. That MORTGAGOR has been designated by the Housing Finance Authority of Hillsborough County, Florida (the Authority ) as an agent for purposes of providing this Affidavit in accordance with Section (2), Florida Statutes for purposes of establishing that the Mortgage described herein is exempt from the excise tax on documents under Chapter 201, Florida Statutes. 2. That this Affidavit is being given in connection with that certain Mortgage dated (2), 20, from (3) [Names of Mortgagors] (individually or collectively the MORTGAGOR ) to (4) [Name of Lender] to secure a mortgage loan in the principal amount of $ (5), which loan provides financing for the acquisition of real property located in (6) [Name of County], Florida, at (7) [Street Address] which Mortgage shall be recorded immediately after this Affidavit. 3. That said Mortgage secures a loan that was made by or on behalf of the Authority under the provisions of Section (8), Florida Statutes. Dated this day of (8), 20. (9) Typed Name: (10) Mortgagor

39 HFA of Hillsborough County Multi- County First-Time Buyer Program Page 39 The foregoing instrument was acknowledged before me on (11), 20, by (12), as MORTGAGOR. (13) Notary Public--State of Florida Personally Known Print Notary Name: Produced Identification My Commission Number is: Type of Identification My Commission Expires: DO NOT RE-TYPE, THIS FORM MAY ONLY BE PRINTED DIRECTLY FROM THE st EHOUSINGPLUS Mortgage Affidavit: LENDER PORTAL. Instructions for completing Fir 1. Type the name of the County where the affidavit is being signed 2. Type the date of the First Mortgage 3. Type the name(s) of the Mortgagor(s) 4. Type the name of the Lender 5. Type the (number) amount of the First Mortgage 6. Type the name of the County where the home being purchased is located 7. Type the street address of the home being purchased 8. Type the date that the First Mortgage Affidavit is executed 9. Have the Mortgagor(s) sign on this line 10. Type the name(s) of the Mortgagor(s) 11. The Notary should write or type the date that the First Mortgage Affidavit is signed before the Notary 12. The Notary should write or type the name(s) of the Mortgagor(s) who signed the First Mortgage Affidavit 13. The Notary should complete the notary form as normal for a notarized document Record the First Mortgage Affidavit immediately prior to the First Mortgage.

40 HFA of Hillsborough County Multi- County First-Time Buyer Program Page 40 HILLSBOROUGH COUNTY HOUSING FINANCE AUTHORITY Board Members: c/o Mary Helen Farris, Esq. Michael F. Kelley, Chairman Hillsborough County Attorney's Office David A. Hollis, Vice Chairman 601 East Kennedy Blvd., 27th Floor Edward A. Busansky, Secretary Tampa, FL Frank D. DeBose Mercedes B. DiMaio Harry S. Hedges Debra F. Koehler Dear Lenders: The Housing Finance Authority of Hillsborough County, Florida is a proud member of the Florida Association of Local Housing Finance Authorities, which worked hard to encourage the Florida Legislature to enact legislation to allow housing finance authority second mortgages to be exempt from the Florida documentary stamp tax. We are so pleased that the Legislature enacted Section (2), Florida Statutes, because of their efforts! The great news is that the new statute provides the exemption for second mortgages made by or on behalf of a housing finance authority. The not so great news is that to qualify for the exemption, an affidavit identifying the second mortgage as a housing finance authority second mortgage must be recorded with the second mortgage. The second mortgage payable to the Authority must be recorded with an affidavit. The affidavit can be executed by the Authority or an agent of the Authority. The Authority has authorized designating both the lenders and the mortgagors as its agents for purposes of executing and recording the affidavit. We believe that it will be easiest for the affidavit to be executed by the mortgagors and notarized in the same manner as the signature page of the second mortgage, and then recorded immediately prior to the second mortgage at the time of closing. The Authority s second mortgage will be revised to incorporate the affidavit as page one of the second mortgage. We are asking you as the lender (or with your loan processor), to fill out the affidavit for execution by your mortgagors. We have attached the form of the affidavit, along with detailed instructions on how to fill out the affidavit as Exhibit A.

41 HFA of Hillsborough County Multi- County First-Time Buyer Program Page 41 Don t forget: As of July 1, our second mortgage is exempt from the Florida documentary stamp tax (if an affidavit is recorded with the second mortgage), and is exempt from the non-recurring intangible tax. Please remember to adjust your numbers to take this into account. To qualify for the documentary stamp tax exemption, the second mortgage must be recorded with an affidavit. You as Lender (or your loan processor) will prepare the affidavit for execution by your Mortgagor. The form of the affidavit for the second mortgage along with instructions for completing it, is attached hereto as Exhibit A. Please let your loan processors and closing agents know that the affidavit relating to the second mortgage should be recorded immediately prior to the second mortgage. Thank you for being a great partner! We love what you do for our community. HOUSING FINANCE AUTHORITY OF HILLSBOROUGH COUNTY, FLORIDA Mark Hendrickson, Executive Director mark@thehendricksoncompany.com

42 HFA of Hillsborough County Multi- County First-Time Buyer Program Page 42 EXHIBIT A - AFFIDAVIT REGARDING EXCISE TAX EXEMPTION FOR SECOND MORTGAGES AFFIDAVIT OF THE HOUSING FINANCE AUTHORITY OF HILLSBOROUGH COUNTY, FLORIDA REGARDING EXEMPTION FROM DOCUMENTARY STAMP TAX PURSUANT TO SECTION (2), FLORIDA STATUTES FOR SECOND MORTGAGE STATE OF FLORIDA COUNTY OF (1) DO NOT RE-TYPE, THIS FORM MAY ONLY BE PRINTED DIRECTLY FROM THE EHOUSINGPLUS LENDER PORTAL. The undersigned authorized representative of the MORTGAGOR named below, hereby affirms: 1. That MORTGAGOR has been designated by the Housing Finance Authority of Hillsborough County, Florida (the Authority ) as an agent for purposes of providing this Affidavit in accordance with Section (2), Florida Statutes for purposes of establishing that the Mortgage described herein is exempt from the excise tax on documents under Chapter 201, Florida Statutes. 2. That this Affidavit is being given in connection with that certain Mortgage dated (2), 20, from (3) [Names of Mortgagors] (individually or collectively the MORTGAGOR ) to the Authority to secure a mortgage loan in the principal amount of $ (4), which loan provides financing for the acquisition of real property located in (5) [Name of County], Florida, at (6) [Street Address] which Mortgage shall be recorded immediately after this Affidavit. 3. That said Mortgage secures a loan that was made by or on behalf of the Authority under the provisions of Section (8), Florida Statutes. Dated this day of (7), 20. (8) Typed Name: (9) Mortgagor

43 HFA of Hillsborough County Multi- County First-Time Buyer Program Page 43 The foregoing instrument was acknowledged before me on (10, 20, by (11), as MORTGAGOR. 12 Notary Public--State of Florida Personally Known Print Notary Name: Produced Identification My Commission Number is: Type of Identification My Commission Expires: DO NOT RE-TYPE, THIS FORM MAY ONLY BE PRINTED DIRECTLY FROM THE EHOUSINGPLUS LENDER PORTAL. Instructions for completing Second Mortgage Affidavit: 1. Type the name of the County where the Second Mortgage Affidavit is being signed 2. Type the date of the Second Mortgage 3. Type the name(s) of the Mortgagor(s) 4. Type the (number) amount of the Second Mortgage 5. Type the name of the County where the home being purchased is located 6. Type the street address of the home being purchased 7. Type the date that the Second Mortgage Affidavit is executed 8. Have the Mortgagor(s) sign on this line 9. Type the name(s) of the Mortgagor(s) 10. The Notary should write or type the date that the Second Mortgage Affidavit is signed before the Notary 11. The Notary should write or type the name(s) of the Mortgagor(s) who signed the Second Mortgage Affidavit 12. The Notary should complete the notary form as normal for a notarized document Record the Second Mortgage Affidavit immediately prior to the Second Mortgage.

44 HFA of Hillsborough County Multi-County First-Time Buyer Program Page 44 BREVARD COUNTY HOUSING FINANCE AUTHORITY 4420 South Washington Avenue Titusville, Florida ( 321 ) Phone ( 321 ) Fax Dear Lenders: The Brevard County Housing Finance Authority is a proud member of the Florida Association of Local Housing Finance Authorities, which worked hard to encourage the Florida Legislature to enact legislation to allow housing finance authority mortgages to be exempt from the Florida documentary stamp tax. We are so pleased that the Legislature enacted Section (2), Florida Statutes, because of their efforts! The great news is that the new statute provides the exemption for mortgages made by or on behalf of a housing finance authority. The not so great news is that to qualify for the exemption, an affidavit identifying the second mortgage as a housing finance authority mortgage must be recorded with each second mortgage. The second mortgage payable to the Authority must each be recorded with an affidavit. The affidavit can be executed by the Authority or an agent of the Authority. The Authority s Board has adopted a resolution specifically designating both the lenders and the mortgagors as its agents for purposes of executing and recording the affidavit. We believe that it will be easiest for the affidavit to be executed by the mortgagors and notarized in the same manner as the signature page of the second mortgage, and then recorded as a separate document immediately prior to the second mortgage at the time of closing. The Authority s second mortgage has been revised to include the affidavit. We are asking you as the lender (or with your loan processor), to fill out the affidavit for execution by your mortgagors. We have attached form of the affidavit, along with detailed instructions on how to fill out the affidavit as Exhibits A. Kamran Sarkarati Michael Hartman Barry Forbes James Katehakis Angela A. Abbott Chairman Vice Chairman Secretary/Treasurer Asst. Secretary/Treasurer Attorney/Administrator

45 HFA of Hillsborough County Multi-County First-Time Buyer Program Page 45 Don t forget: As of July 1, our second mortgage is exempt from the Florida documentary stamp tax (if an affidavit is recorded with the second mortgage), and is exempt from the non-recurring intangible tax. Please remember to adjust your numbers to take this into account. To qualify for the documentary stamp tax exemption, the second mortgage must be recorded with an affidavit. You as Lender (or your loan processor) will prepare the affidavit for execution by your Mortgagor. The form of the affidavit for the second mortgage along with instructions for completing it, is attached hereto as Exhibit A. Please let your loan processors and closing agents know that the affidavit relating to the second mortgage should be recorded immediately prior to the second mortgage as a separate document. Thank you for being a great partner! We love what you do for our community. BREVARD COUNTY HOUSING FINANCE AUTHORITY

46 HFA of Hillsborough County Multi-County First-Time Buyer Program Page 46 EXHIBIT A - AFFIDAVIT REGARDING EXCISE TAX EXEMPTION FOR SECOND MORTGAGES AFFIDAVIT OF BREVARD COUNTY HOUSING FINANCE AUTHORITY REGARDING EXEMPTION FROM DOCUMENTARY STAMP TAX PURSUANT TO SECTION (2), FLORIDA STATUTES FOR SECOND MORTGAGE STATE OF FLORIDA COUNTY OF (1) The undersigned authorized representative of the MORTGAGOR named below, hereby affirms: 1. That MORTGAGOR has been designated by the Brevard County Housing Finance Authority (the Authority ) as an agent for purposes of providing this Affidavit in accordance with Section (2), Florida Statutes for purposes of establishing that the Mortgage described herein is exempt from the excise tax on documents under Chapter 201, Florida Statutes. 2. That this Affidavit is being given in connection with that certain Mortgage dated (2), 20, from (3) [Names of Mortgagors] (individually or collectively the MORTGAGOR ) to the Authority to secure a mortgage loan in the principal amount of $ (4), which loan provides financing for the acquisition of real property located in Brevard County, Florida, at (5) [Street Address] which Mortgage shall be recorded immediately after this Affidavit. 3. That said Mortgage secures a loan that was made by or on behalf of the Authority under the provisions of Section (8), Florida Statutes. Dated this day of (6), 20. (7) Typed Name: (8) Mortgagor (7) Typed Name: (8) Mortgagor

47 HFA of Hillsborough County Multi-County First-Time Buyer Program Page 47 The foregoing instrument was acknowledged before me on (9), 20, by (10), as MORTGAGOR. (11) Notary Public--State of Florida Personally Known Produced Identification Type of Identification Print Notary Name: My Commission Number is: My Commission Expires: Instructions for completing Second Mortgage Affidavit: 1. Type the name of the County where the Second Mortgage Affidavit is being signed 2. Type the date of the Second Mortgage 3. Type the name(s) of the Mortgagor(s) 4. Type the (number) amount of the Second Mortgage 5. Type the street address of the home being purchased 6. Type the date that the Second Mortgage Affidavit is executed 7. Have the Mortgagor(s) sign on this line 8. Type the name(s) of the Mortgagor(s) 9. The Notary should write or type the date that the Second Mortgage Affidavit is signed before the Notary 10. The Notary should write or type the name(s) of the Mortgagor(s) who signed the Second Mortgage Affidavit 11. The Notary should complete the notary form as normal for a notarized document Record the Second Mortgage Affidavit immediately prior to the Second Mortgage.

48 HFA of Hillsborough County Multi- County First-Time Buyer Program Page 48

49 HFA of Hillsborough County Multi- County First-Time Buyer Program Page 49

50 HFA of Hillsborough County Multi- County First-Time Buyer Program Page 50 PREPARED BY AND RETURN TO: HOUSING FINANCE AUTHORITY OF CLAY COUNTY, FLORIDA P.O. Box 1620 Orange Park, Florida SPACE ABOVE THIS LINE RESERVED FOR RECORDER AFFIDAVIT OF HOUSING FINANCE AUTHORITY OF CLAY COUNTY, FLORIDA REGARDING EXEMPTION FROM DOCUMENTARY STAMP TAX PURSUANT TO SECTION (2), FLORIDA STATUTES FOR SECOND MORTGAGE STATE OF FLORIDA COUNTY OF CLAY DO NOT RE-TYPE, THIS FORM MAY ONLY BE PRINTED DIRECTLY FROM THE EHOUSINGPLUS LENDER PORTAL. The undersigned authorized representative of the Housing Finance Authority of Clay County, Florida (the Authority ), hereby affirms: 1. That the undersigned is the Executive Director of the Authority and is authorized to provide this Affidavit in accordance with Section (2), Florida Statutes for purposes of establishing that the Mortgage described herein is exempt from the excise tax on documents under Chapter 201, Florida Statutes. 2. That this Affidavit is being given in connection with that certain Mortgage dated, 20, from [Names of Mortgagors] (individually or collectively the MORTGAGOR ) to the Authority to secure a mortgage loan in the principal amount of $, which loan provides financing for the acquisition of real property located in Clay County, Florida, at [Street Address] which Mortgage shall be recorded immediately after this Affidavit. 3. That said Mortgage secures a loan that was made by or on behalf of the Authority under the provisions of Section (8), Florida Statutes. Dated this day of, 20. Typed Name: Teresa Sumner, Executive Director The foregoing instrument was acknowledged before me on, 20, by Teresa Sumner, as the Executive Director of the Authority. Notary Public--State of Florida Personally Known Print Notary Name: Produced Identification My Commission Number is: Type of Identification My Commission Expires: This Second Mortgage Affidavit is recorded immediately prior to the Second Mortgage.

51 HFA of Hillsborough County Multi- County First-Time Buyer Program Page 51 JACKSONVILLE HOUSING FINANCE AUTHORITY ads PIVii Where Florida Begins. Dear Lenders: The Jacksonville Housing Finance Authority is a proud member of the Florida Association of Local Housing Finance Authorities, which worked hard to encourage the Florida Legislature to enact legislation to allow housing finance authority mortgages to be exempt from the Florida documentary stamp tax. We are so pleased that the Legislature enacted Section (2), Florida Statutes, because of their efforts! The great news is that the new statute provides the exemption for mortgages made by or on behalf of a housing finance authority. The not so great news is that to qualify for the exemption, an affidavit identifying the mortgage as a housing finance authority mortgage must be recorded with each mortgage. The second mortgage payable to the Authority must be recorded with the affidavit. The affidavit can be executed by the Authority or an agent of the Authority. The Authority's Chair on behalf of the Authority has specifically designated both the lenders and the mortgagors as the Authority's agents for purposes of executing and recording the affidavit with such designations to be ratified by the Authority's Board at its next Board meeting. We believe that it will be easiest for the affidavit to be executed by the mortgagors and notarized in the same manner as the signature page of the mortgage, and then recorded immediately prior to the mortgage at the time of closing. The Authority's second mortgage will be revised to incorporate the affidavit as page one of the second mortgage. We are asking you as the lender (or with your loan processor), to fill out the affidavit for execution by your mortgagors. We have attached form of the affidavit, along with detailed instructions on how to fill out the affidavit as Exhibit A. Don't forget: As of July 1, our second mortgages are exempt from the Florida documentary stamp tax (if an affidavit is recorded with the second mortgage), and are exempt from the non-recurring intangible tax. Please remember to adjust your numbers to take this into account /001/ DOCX0

52 HFA of Hillsborough County Multi- County First-Time Buyer Program Page 52 To qualify for the documentary stamp tax exemption, each mortgage must be recorded with its own affidavit. You as Lender (or your loan processor) will prepare the affidavits for execution by your Mortgagor. The form of the affidavit for the second mortgage along with instructions for completing it, is attached hereto as Exhibit A. Please let your loan processors and closing agents know that the affidavit relating to the second mortgage should be recorded immediately prior to the mortgage. Thank you for being a great partner! We love what you do for our community. JACKSONVILLE HOUSING FINANCE AUTHORITY By: William I. Gulliford, Chair 26460/001/ DOCX0

53 HFA of Hillsborough County Multi- County First-Time Buyer Program Page 53 AFFIDAVIT OF THE JACKSONVILLE HOUSING FINANCE AUTHORITY REGARDING EXEMPTION FROM DOCUMENTARY STAMP TAX PURSUANT TO SECTION (2), FLORIDA STATUTES FOR SECOND MORTGAGES STATE OF FLORIDA COUNTY OF (1) DO NOT RE-TYPE, THIS FORM MAY ONLY BE PRINTED DIRECTLY FROM THE EHOUSINGPLUS LENDER PORTAL. The undersigned authorized representative of the MORTGAGOR named below, hereby affirms: 1. That MORTGAGOR has been designated by the Jacksonville Housing Finance Authority (the "Authority") as an agent for purposes of providing this Affidavit in accordance with Section (2), Florida Statutes for purposes of establishing that the Mortgage described herein is exempt from the excise tax on documents under Chapter 201, Florida Statutes. 2. That this Affidavit is being given in connection with that certain Mortgage dated (2) J 20_, from (3) [Names of Mortgagors] (individually or collectively the "MORTGAGOR") to the Authority to secure a mortgage loan in the principal amount of $ (4), which loan provides financing for the acquisition of real property located in (5) [Name of County], Florida, at [Street Address] which Mortgage shall be recorded (6) immediately after this Affidavit. 3. That said Mortgage secures a loan that was made by or on behalf of the Authority under the provisions of Section (8), Florida Statutes. Dated this day of (7) 20_. (8) Typed Name: (9) Mortgagor The foregoing instrument was acknowledged before me on 20, by (11), as MORTGAGOR. 12 (10 Notary Public--State of Florida 26460/001/ DOCXv1