Every day the dream of home ownership seems to get more elusive for those who have never experienced it. Groceries, utilities, school supplies and tuition are among the monthly expenses that are always on the rise. A number of state governments are addressing this issue in an effort to help. Qualified home buyers can take advantage of any one of the numerous down payment assistance programs Florida has available for instance.
In certain counties, residents can take advantage of HHF, or the Hardest Hit Fund. This fund is designed to assist the citizens who have been most affected by recent economic downturns. This year Florida has a maximum allowance of fifteen thousand dollars for qualified buyers to use toward a down payment on a single family home, pre-approved condo, or town house. The qualifying loans are for thirty years at a fixed rate.
An option for anyone who lives in this state is the conventional HFA preferred loan. You can receive up to seventy-five hundred dollars to assist with earnest money or closing cost. Co-signers are not accepted, and all approved applicants must go through an educational course on home buying. Discounted mortgage insurance is available for qualified home buyers. These loans are not available to investors. You must be an owner occupant.
There is a program called FHA with Florida Assist available for first time home buyers. The maximum assistance for this is also seventy-five hundred dollars. You have to attend and complete a home buyer course and must have a credit score of at least six hundred forty. You cannot get cash back at closing.
For those with higher incomes, there are funds available through a Conventional HFA Preferred Plus Loan. The state waives the first time home buyer requirement for veterans with this program. Instead of the flat rate amount, Florida will assist with three percent of the total cost. Purchasers must complete an educational home buying class to qualify for this money as well.
The state offers several matching grants. One of them will match the buyer at a one to four ratio up to a maximum of five thousand dollars. The buyers must contribute a minimum of a thousand dollars. Income limitations apply, and there are maximum purchase price stipulations as well. New homes, town homes, and foreclosures are included in the matching grant guidelines.
Law enforcement officers, military personnel, firefighters, and teachers can apply for special matching funds programs that will assist with as much as seven thousand five hundred dollars. Healthcare workers, other first responders, and veterans can also qualify. The property must be owner occupied, and the homer buyer must attend home counseling.
These are just a few of the plans this state offers its citizens. You can contact state officials for detailed information and application forms. There is no fee required to apply, and applying does not obligate you to the state in any way. Home ownership is possible, if you persevere and take advantage of the opportunities states make available.
In certain counties, residents can take advantage of HHF, or the Hardest Hit Fund. This fund is designed to assist the citizens who have been most affected by recent economic downturns. This year Florida has a maximum allowance of fifteen thousand dollars for qualified buyers to use toward a down payment on a single family home, pre-approved condo, or town house. The qualifying loans are for thirty years at a fixed rate.
An option for anyone who lives in this state is the conventional HFA preferred loan. You can receive up to seventy-five hundred dollars to assist with earnest money or closing cost. Co-signers are not accepted, and all approved applicants must go through an educational course on home buying. Discounted mortgage insurance is available for qualified home buyers. These loans are not available to investors. You must be an owner occupant.
There is a program called FHA with Florida Assist available for first time home buyers. The maximum assistance for this is also seventy-five hundred dollars. You have to attend and complete a home buyer course and must have a credit score of at least six hundred forty. You cannot get cash back at closing.
For those with higher incomes, there are funds available through a Conventional HFA Preferred Plus Loan. The state waives the first time home buyer requirement for veterans with this program. Instead of the flat rate amount, Florida will assist with three percent of the total cost. Purchasers must complete an educational home buying class to qualify for this money as well.
The state offers several matching grants. One of them will match the buyer at a one to four ratio up to a maximum of five thousand dollars. The buyers must contribute a minimum of a thousand dollars. Income limitations apply, and there are maximum purchase price stipulations as well. New homes, town homes, and foreclosures are included in the matching grant guidelines.
Law enforcement officers, military personnel, firefighters, and teachers can apply for special matching funds programs that will assist with as much as seven thousand five hundred dollars. Healthcare workers, other first responders, and veterans can also qualify. The property must be owner occupied, and the homer buyer must attend home counseling.
These are just a few of the plans this state offers its citizens. You can contact state officials for detailed information and application forms. There is no fee required to apply, and applying does not obligate you to the state in any way. Home ownership is possible, if you persevere and take advantage of the opportunities states make available.
About the Author:
Find an overview of the advantages and benefits of owning property and more info about excellent home down payment assistance programs Florida housing finance agencies offer at http://www.myfirstfloridahome.com today.