The Collier County Loan Consortium product is a 30-year fixed rate loan offered through a group of local banking partners. The program is designed to assist low-income households obtain financing for a primary residence. The gross household income cap is $55,850. The loan features a low fixed rate, and no private mortgage insurance. A 3% down payment is required, with a minimum contribution from the borrower's own funds. The balance can come from a gift, grant, or down payment assistance program. A certificate of home ownership counseling will be required prior to loan closing.