There is a reason for the First-Time Home Buyer grants. For instance, if a city is looking to revitalize a neighborhood, they will offer grant funding targeting that area. Also, Home Owners stimulate the local economy with paid property taxes and increase the property values with well-maintained homes. There is a benefit for offering such opportunities to those who qualify.
Please choose one of the options listed below. A brief summary of these programs and a list of the lenders can be viewed at the My First Florida Home website. Of course, few first-time buyers have saved a 20% down payment.
Florida home buyer overview
Just because you initially choose an approved lender, that doesn’t mean you must stick with it. You should still shop around for your best mortgage rate and overall deal, as doing so could save you thousands. If you’re not using a down payment assistance program, you’re free to pick from any mortgage lender you want. Compare at least 3-5 lenders’ quotes to find the best deal.
Funding will be used to pay all or a portion of the costs and/or down payment required for the purchase. Applications are awarded in order of the first completed and verified application. For an application and more information click on the links below.
Florida Homeownership Loan Program (FL HLP)
If you are having difficulty getting a good deal on a mortgage, I would highly suggest that you contact ‘Christian and his amazing team. They will simply get things done that other companies cannot. And to top it off, his team makes it an absolute priority to get the deal done on time.
Buying your first house can seem intimidating at the outset. But there are plenty of helpful programs available if you’re a first-time home buyer in Florida. Did you know that you can borrow above the Fannie Mae and Freddie Mac conforming loan limits to purchase your first house? Consider applying for a jumbo mortgage, also called a “non-conforming” mortgage. Veterans, active duty service members, and eligible surviving spouses may apply for the VA loan program if they meet the requirements. Zero down, no PMI, affordable rates, and many other attractive features make this program one of the most competitive out there.
FHA 203k
If you're eligible for a VA loan or a USDA loan (backed by the U.S. Department of Agriculture), you may not need any down payment at all. Buying my first home was a pleasure thanks to the Christian Penner Mortgage Team. My mortgage broker Christina Kelleher guided me through the process with ease. Christian and his team provided a stress free, white glove service. You can reach us by phone, email, or text at every stage as we process your application. We will provide updates with each step, moving quickly ahead so you can close on your dream home.
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He's about to move into a brand new 3-bedroom/2-bath home in Pleasant City. Coleman and two other new homeowners took advantage of a homebuyers program under the non-profit Neighborhood Renaissance. The City of West Palm Beach provided a $328,000 dollar federal HOME grant. West Palm Beach Mayor Jeri Muoio said the CRA owners the properties. "So we donated the properties and through our housing and community development department, we were able to give them some CDBGN home funding," Muoio said. The 3-single family homes were building in the 500-block of 18-th Street.
The City of Jacksonville and Duval County Government offer the Headstart to HOME Ownership Program . This program can provide up to $50,000 in down payment and closing cost assistance to eligible households. With their flexible qualifications and affordable features, these mortgages are what make homeownership possible for many applicants.
Income eligible buyers may qualify for up to $20,000 in down payment assistance with the closing cost paid by the seller. Depending on the program you qualify for, you may never have to repay the loan, provided you remain in residence for at least five years. Borrow up to 3%, 4%, or 5% of the loan amount as a second mortgage with a 0% interest rate and no monthly payments.
To buy your first home with no down payment in rural Florida, you can apply for a USDA mortgage backed by the US Department of Agriculture. A big part of the American dream is owning your own home. America’s Mortgage Solutions makes it fast and easy to buy your first home with a wide range of competitive mortgage products. The National Affordable Housing Act of 1990 created the Family Self-Sufficiency program to promote economic self-sufficiency among participating families.
These programs could seriously lower the barrier to buying your first house. Eligibility for these programs is based on your FICO score (you’ll need 640 or higher) as well as local income limits and purchase price limits. Keep in mind that this housing assistance is only available to those who finance a home using a Florida Housing First Mortgage loan. It will also connect you with a home buyer education program.
Unlike a big bank, we will not shy away from obstacles you might face in buying your first home. We will work with you to find a way for you to move into your new house. We know that purchasing your first home comes with questions and uncertainties. We answer your questions and simplify the process to make it as clear and smooth as possible. Check out our events calendar to see when the next workshop is available to attend. Buyers must qualify using the Own a Home Opporunity Grant requirements.
First Time Home Buyers
The former says you can borrow up to $40,000 through its HOME program, but funding is limited. Christian and his team are so knowledgeable and amazing to work with! He has helped me numerous times to achieve my goals. They got me the rate I wanted and helped every step of that way up to closing . I have referred them to several friends and family members and everyone was happy with the service . Palm Beach County offers 2 great options to homebuyers.
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