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First Time Home Buyer Program
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Florida Housing’s First Time Homebuyer Program provides a continuous stream of lending throughout the year for eligible first-time homebuyers. If you're not a first-time homebuyer, you may still be eligible if you're purchasing a home in one of 13 GO Zone counties. The program offers low-interest 30 and 40 year fixed-rate loans, downpayment and closing costs assistance as well as access to credit counseling.
Teachers, firefighters, healthcare workers, police officers, as well as active duty and veteran military personnel could be eligible for lower interest rates. Eligible applicants include individuals who:
- have never owned a home,
- don't claim their mobile home as real property,
- haven't owned and occupied a home as their primary residence within the past three years,
- have established credit worthiness, and
- have an annual income that does not exceed program limits.
Program Limits:
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Florida Downpayment Assistance Program
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Home ownership has always been one of the best ways to build wealth. However, saving enough money to cover the required down payment and closing costs for the purchase of a home is one of the biggest hurdles that potential first time homebuyers face. Florida Housing offers two down payment and closing cost assistance programs in the form of second mortgage loans and one in the form of an up front cash assistance to help eligible homebuyers cover their down payment and closing costs.
Downpayment Assistance
Programs |
Offers Up To*: |
| Florida Assist Program |
$10,000- Targets applicants with annual incomes at or below 80% Area Median Income (AMI) |
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Home Ownership Assistance for Moderate
Income (HAMI) Loan |
$5,000-Targets applicants with moderate incomes |
*Income Restrictions Apply
Florida Housing requires the completion of a Homebuyer Counseling Course for all borrowers receiving First Time Homebuyer Program assistance. Homebuyer counseling addresses vital information such as money management, spending and savings plans. Florida Housing believes that Homebuyer Education will empower you to make more informed decisions and enable you to effectively manage your resources leading to greater financial stability.
To receive a Downpayment Assistance InfoPak and begin your journey towards homeownership, please Contact Me today. |
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