Buyer Assistance Programs
You may find it difficult in getting qualified for an assistance program, you will still need to meet requirements such as particular credit scores. As for particular loan programs, there are some loan types are ONLY on one particular home… it can get quite confusing. Your best bet would be to go to the links I share and read thoroughly. Each site has different qualification methods, there should be contact info on these sites should you have questions. Once you are all set with a program and pre-approved, contact me and we can get started!
Down Payment Assistance Program
Flagler SHIP Program and/or Volusia County Home Buyer Assistance. Assistance for low-income families to help with home purchase, must qualify. There is only a specific amount of $ available in this program. There is a waiting list. Credit counseling / Home Buying course in Volusia County is required.
DOWN PAYMENT – NO MORE 20% DOWN! There are loan programs available offering 3.5%-5% down. What does that look like?
House Purchase: $200,000 — $7000 down.
House Purchase; $100,000 —-$3500 down
Did you know you can borrow from Life Insurance or 401K to use as a down payment on a home?
CLOSING COSTS – Most likely you will need 2-5% of purchase price towards closing costs. More info: https://ddesousa.com/closing-costs-what-are-they/
In case you were not aware, Florida offers down payment assistance programs, and I am an APPROVED lender to offer it to my clients!
The Florida Assist Loan Program – is a $7500 (in Flagler County) downpayment assistance program that is provided in the form of a 0% interest second mortgage. There are no monthly payments made but the loan will become due when the first mortgage is satisfied or the borrowers no longer occupy the home as their primary residence.
The HFA Preferred PLUS Grant – is a downpayment assistance program that provides qualified borrowers with a percentage of the purchase price of their home in the form of a non-repayable grant and is only available with a HFA Preferred PLUS Loan.
REQUIREMENTS (include but not limited to):
- Must qualify for a first mortgage with a Florida Housing approved lender -ME!
- Cannot own a home within 3 years
- Maximum sale price limit based on county
- Single family, 2-4 family, condos and PUDs (must meet FHA or conventional criteria).
- Owner Occupied Only
- Home Buyer Education course required
- Minimum contribution required by borrower
- Exempt for document stamps and intangible tax
- Seller must pay deed stamps
- Income limits apply
- Property must be in the state of Florida
- May require a minimum 640 credit score
The FL Bond FL Assist down payment assistance program link is http://www.floridahousing.org/programs/homebuyers/down-payment-assistance-programs
Go to the “Home Wizard” here to see if you qualify.
Additionally, potential borrowers must:
HomePath.com is the official Website for Fannie Mae-owned properties. A foreclosed property can represent a great opportunity and a good value — but a HomePath property can offer even more. Some homes may qualify for special incentives, which will be clearly indicated on the property details page of an eligible property. Their goal is to sell properties in a timely manner in order to minimize the impact on the neighborhood. More info click here. Additional assistance to the buyer be available. Click here for the flyer.
Find a Home during First Look. HomePath offers owner occupants (homebuyers who will live in the home as their primary residence) an exclusive “first look” at newly listed foreclosed properties. During the First Look™ marketing period, you can make an offer and purchase a HomePath home without competition from investors. Look for the First Look logo to see which properties are still in the First Look marketing period.
HOPE Program Operation HOPE is committed to helping people in low-wealth neighborhoods become homeowners and community stakeholders.The Operation HOPE Home Buyers Program is designed specifically for low-wealth individuals who ordinarily would find homeownership difficult, if not impossible. We help our clients get the funding they need to own a home without resorting to sub-prime loans.
Flagler Habitat for Humanity believes that every man, woman and child should have a decent, safe and affordable place to live. We build and repair houses all over the world using volunteer labor and donations. Our partner families purchase these houses through no-profit, no-interest mortgage loans or innovative financing methods. Click here to fill out the interest form.
WHO DO I CONTACT?
I work with the best Realtors in the business. Contact me today and I will make my recommendations!
If you are looking for First Time Home Buyer programs in Flagler County FL, be on the lookout for my next blog. As a first-time home buyer, you’re on your way to being better prepared for getting a mortgage and buying your first home. Don’t take chances. Do your research and ask lots of questions. Contact me anytime if you would like more information 386-589-9037; email: firstname.lastname@example.org
Closing Costs: https://ddesousa.com/closing-costs-what-are-they/
Credit & Buying a Home: https://ddesousa.com/credit-and-buying-a-home/
First Time Home Buyers: How to Purchase Part 1: https://ddesousa.com/part-1-first-time-home-buyers-florida/
First Time Home Buyers: How to Purchase Part 2: https://ddesousa.com/part-2-first-time-home-buyers/
First Time Home Buyers: Down Payment Assistance: https://ddesousa.com/how-can-i-buy-a-home-part-3-assistance-programs-palm-coast-fl/
Loan Programs More: https://ddesousa.com/how-can-i-buy-a-home-part-4-loan-programs-palm-coast-fl
More on Interest Rates: https://ddesousa.com/the-down-low-on-interest-rates/