Down payment Assistance Programs
There are many options available to First Time Buyers in the State of Florida. I have compiled a list of the ones that my lender likes to use. You may at any time apply now and the lender will check availability of them all for you. How convenient is that? Review the list of Homebuyer Education Courses. These are required for each of these programs. Please feel free to contact us with any questions if you are not currently already working with a Realtor. Keep in mind that all of these programs are on a first come first served basis and they do run out. Please check with your lender for availability.
Florida Housing Finance Corporation Florida Housing’s First Time Homebuyer Program (FTHB) offers 30-year fixed interest rate mortgage loans to first time homebuyers through its network of participating lenders and lending institutions. However, if you are not a first time homebuyer, you may still be eligible for this program if you are purchasing a home in a GO Zone county, or other federally designated targeted area. This program uses income and purchase price limits to determine eligibility.
Florida Assist Program Offers Up To $7,500
Targets applicants with annual incomes at or below 80% Area Median Income (AMI) Florida Assist Program income limits
Homeownership Assistance For Moderate Incomes (HAMI) 5,000
Targets applicants with moderate incomes
HAMI Program Income Limits
Head Start to HOME Ownership Program up to $14,999 The Head Start to HOME Ownership (H2H) Program provides financial aid in the form of down payment and closing cost assistance to eligible families/individuals interested in buying a home. Families/individuals who do not currently own a house, who will reside in the home as their primary residence and who meet household income criteria, will be eligible for assistance pending funding availability. In order to qualify for the H2H program, the total gross household income cannot exceed 80 percent of the area median income for Duval County as established by the U.S. Department of Housing and Urban Development. In addition to meeting the income criteria, the applicant must have a minimum down payment of $500. Any single-family housing unit newly built or existing (including patio homes, town homes and condominiums) located within the consolidated City of Jacksonville is eligible except mobile homes or manufactured housing. The maximum purchase/value for one family unit for Duval County as of March 13, 2008, is $200,160.
SHIP Down Payment Assistance Program
The Housing Services Division allocates SHIP funds to the Housing Partnership of Jacksonville to administer the Home Buyer's Club down payment assistance program. The purpose of the program is to provide qualified borrowers with a source of down payment and closing costs assistance. The maximum income limit for a family is 120 percent of the median gross annual income for Duval County, as published by the Federal government, and is subject to change annually. Applicants must be established as credit worthy and contribute $500 to the mortgage transaction. Eligible properties are single family, owner-occupied residences located in Duval County. The maximum assistance amount is $14,999. The maximum sale price of a house is $247,500.
Federal Home Loan Bank of Atlanta (Match Money) This program is what we call the “match money program”. The amount of your grant that you receive is based on you. For every $1 that you put into your transaction Federal Home Loan Bank will give you $5. For example if you contribute $1000 towards your home purchase you will be matched with a $5000 grant. The maximum award is $7,500.All of these programs have income and eligibility requirements. Jacksonville FL down payment assistance, Orange Park down payment assistance,Grant money for homes,Bond money in Jacksonville FL
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Last Updated ( Sunday, 10 April 2011 )
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