FirstTime&Home&Buyer&Programs& Available&in&Florida

First Time Home Buyer Assistance Programs

First Time Home Buyer Programs Available in Florida

The first step is to get prequalified and determine what programs you are qualified to use.

Mel Gilson, Broker Associate

863--602--1320

Mel@

First Time Home Buyer Assistance Programs

First 8me home buyers are typically defined as not owning a

home in the last 3 years.

Most programs will use income and purchase

Price and debt to income raJos

to determine eligibility.

Mel Gilson, Broker Associate

863--602--1320

Mel@

First Time Home Buyer Assistance Programs

What are your minimum qualifica8ons to buy a home and par8cipate in the assistance programs

? 640 FICO score or above ? Full Jme job for a year or more ? Debt to Income raJo of not greater than 43% ? (gross income ? personal debt) ? Cost of the home plus taxes and insurance.

Mel Gilson, Broker Associate

863--602--1320

Mel@

First Time Home Buyer Assistance Programs

10 First Time Home Buyer Assistance Op8ons in Florida

Mel Gilson, Broker Associate

863--602--1320

Mel@

First Time Home Buyer Assistance Programs

Florida Homeownership Loan Program or (HLP)

? 30 year fixed rate first mortgage ? $10,000 Florida homeownership loan 2nd mortgage now allowed; This is a fully amortized 2nd mortgage for 15 years at 3% interest rate which ends up being a $69 a month payment. ? This can be used with the Florida assist FHA first mortgage or the HFA Preferred conventional first mortgage - Minimum credit score 640+ middle score for 95% LTV ? Minimum credit score 680+ middle score for 97% LTV ? Available statewide ? Home buyer education required ? Discount on mortgage insurance for those that qualify ? Income limits and purchase price limits do apply ? Non Occupant Co-signers are not permitted ? Owner-occupied, 1 unit properties ? Town homes or Condos (Condos must be prior approved) ? New construction or foreclosures okay

Mel Gilson, Broker Associate

863--602--1320

Mel@

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