Just starting out looking for your first home? If so and you are finding that the down payment needed to buy your first home is a bit out of reach. Don't worry there are still state run grants and bonds out there to help you buy your first home!
The first loan program is offered by ReHouse Bay. (ReHousebay.org)
key take aways;
ReHouse Bay provides up to $50,000 to eligible individuals and families to lower up-front costs (like down payment and closing costs) and keep mortgage payments affordable. In addition to funding, program participants will also receive first-time homebuyer counseling. ReHouse Bay financing is distributed as a second mortgage on purchased homes that:
Homes that Are located in Bay County, Florida
Pass standard home inspections; and
Do not exceed a sale price of $349,525.80; and
Are an eligible property type including single family, townhouse, condominium, one side of a duplex that will be owner-occupied, or mobile home built after July 1994.
The second program is for selected front line workers.
The Florida Hometown Heroes Housing Program makes homeownership affordable for eligible frontline community workers such as law enforcement officers, firefighters, educators, healthcare professionals, childcare employees, and active military or veterans.
This program provides down payment and closing cost assistance to first-time, income-qualified homebuyers so they can purchase a primary residence in the community in which they work and serve. The Florida Hometown Heroes Loan Program also offers a lower first mortgage rate and additional special benefits to those who have served and continue to serve their country.
Key take aways:
FHA and USDA loan limits $420,680.00
Conventional and VA loan limits $647,200.00
Income limits $118,950.00
$100 Million in allotted funds. So don't wait, make your MOVE before this opportunity is gone.
If it sounds like one of these programs would be for you. Contact me today Dien Tran 850.774.3902