Currently I am working with three buyers who are using down payment assistance to help them buy their first home. Two buyers are currently under contract and one is currently searching for her new home. Maybe this program can help you become a home owner?
Florida recently expanded the Florida Bond program in 11 counties, including Hillsborough, Pinellas and Pasco. Typically the bond program covered $7,500 in down payment and closing cost but with the expansion the program has doubled to $15,000 in these areas.
The Bond is actually an additional loan on the home that is forgiven 20% each year for the first five years you own the home. If you live in the home for 5 years the money is completely forgiven, you don’t have to pay it back!
The program is for first time home buyers or buyers who have not owned a home in the last three years. You must meet certain guidelines such as a minimum credit score, meet the income requirements, take a home buyer education class, plan to live in the home you purchase and few more.
This is a great program for first time home buyers who qualify. If you want to learn more give me a call!
Kelly Harden, Realtor®, GRI
Mihara & Associates, Inc.