Section 67-54.008 - Eligible Properties(1) The residence must be located in the State of Florida and must be eligible for insurance under the FHA, VA, USDA, Conventional and MI Insurer.(2) The property must be a single family detached house, condominium or townhouse or a manufactured home eligible for FHA, VA, USDA, Conventional or PMI insurer mortgage insurance under a land-home transaction; 30 year amortization, fixed to a permanent foundation.(3) No more than 15% of the total area of the principal residence can be used for the principal place of business for, or in connection with, any trade or business on an exclusive and regular basis.(4) The Acquisition Price may not exceed the limits prescribed in the Origination Guide.(5) Manufactured homes shall have a minimum of 400 square feet of living space and a minimum width in excess of 102 inches.Fla. Admin. Code Ann. R. 67-54.008
Rulemaking Authority 420.507(12) FS. Law Implemented 420.5099 FS.