Florida Housing recently made $50 million available statewide in low-interest mortgages for first time homebuyers. Eligible applicants have already reserved over $34 million, and $16 million is still available. Some applicants may also be eligible for down payment and closing cost assistance of up to $25,000 in high-cost counties.
First Time Homebuyer Program
Florida Housing First Time Homebuyer Program provides low interest, fixed rate loans and down payment and closing cost assistance to eligible first time homebuyers purchasing new or existing homes.
The proceeds from the sale of both taxable and tax-exempt single family mortgage revenue bonds are used to finance these 30-year, fixed rate mortgages for low to moderate income homebuyers. In addition to providing low-interest rate loans, this program also offers credit counseling resources and deep subsidy second mortgages.
Eligible applicants include individuals who don't own their current home, don't claim their mobile home as real property, haven't owned a home within the past three years, have established credit worthiness, and have an annual income that does not exceed program limits.
The Morris Team
If you are eligible for this Florida State Program the Morris Team would be happy to represent you and help you find the first time home of your dreams and assist you in all the details necessary to complete the transaction.
