Down Payment Assistance Programs Available for First Time Home Buyers
Here is an example of some of the details for Conventional First Time Home Buyers Assistance. For more specific details about this program and for FHA BUYERS, please contact us for more details from a lender. We can give you lender referrals of lender who handles these programs. Great program for buyers who have not owned a home in 3 years. Even if you owned a home before ,but have rented for the last 3 years or more you can qualify potentially. Programs of up to $15,000 of home buyer down payment assistance can help you get into a home with little to no down.
- 30-year, fixed-rate first mortgage loans originated by trained and approved lenders throughout the State of Florida. The program is offered to all borrowers who meet income, purchase price and other program guidelines, and can otherwise qualify for a loan.
- First Time Home Buyer or Spouse haven’t owned a property for at least 3 years
- 3% of the purchase price is in the form of a grant that does not require repayment by the borrower. (http://floridadownpaymentassistance.com/) This can be used for down payment, Buyers mortgage closing costs, or can also be used to “split pay” mortgage insurance premium to lower mortgage insurance cost or pay mortgage insurance completely off.
- This program allows for higher borrower income limits.
- This program can be used anywhere in the State of Florida.
- No cash back at closing, any excess funds will be used to pay down first mortgage.
- 1 unit only – Single Family Residence, Townhomes & Condos with 95% LTV or below.