Right now qualified first time home buyers can take advantage of arguably one of the best programs available to assist an applicant in securing a home loan. This program uses income and purchase price limits to determine eligibility for the borrower which works great to create some help for those finding it difficult to save all of the money for their down payment and closing costs. As this program does not last long we wanted to go the extra mile to break down the steps and some of the criteria involved with investigating this incredible program to help people take advantage of this opportunity now. This is exactly the type of program that many agents and certainly too many homeowners just never become made aware of. In the end, its best to consult with us directly and allow us make sure that your lender is not only aware of this program, but also knows how to help see if you qualify. These are the types of programs that can help individuals and couples stop renting and almost immediately begin enjoying the satisfaction of homeownership. So read through these steps and contact us today see if this is the right program for you!
Criteria to Qualify and Program Details
•Florida Housing’s First Time Homebuyer Program A.K.A. the Florida Bond Program offers 30-year fixed rate “first mortgage” loans to first time homebuyers, providing them with a $15,000 “second mortgage” to assist with down payment and closing costs.
•This “second mortgage” drops off at a rate of 20% per year and is forgiven in year 5.
•The borrowers have to meet basic loan qualification standards which your lenders can explain.
•The borrowers will have to complete a homebuyer education class. Homebuyer counseling addresses vital information such as money management, spending and savings plans,
•Also called The Florida Down Payment Assistance Program, allows a first time home buyer to buy a new primary residence with as little as $1,000 down payment
•The Florida Bond Program will provide down payment assistance to “cover” whatever is required over and above the initial $1,000 down payment.
•A First Time Home Buyer is defined as someone who has not owned a home in over three years. Even if you’ve owned a home before, but haven’t in the last three years, you still are eligible qualify under this program.
Contact John and Cathy Bade with the Bade Team today to learn more! $15,000 in cash could be available to you today!
John BadeCathy Bade
375 Atlantic Boulevard
Atlantic Beach, FL 32233
Berkshire Hathaway HomeServices
Florida Network Realty