Unlock $70,000 for Your Dream Home This Fall—Find Out If You Qualify!

As the holiday season approaches, it's the perfect time to explore Florida's Down Payment Assistance (DPA) programs, which can provide up to $70,000 to help make your dream home a reality.

Understanding Down Payment Assistance (DPA)

DPA programs are designed to help homebuyers cover the initial costs of purchasing a home, such as the down payment and closing costs. In Florida, several programs offer substantial assistance to eligible buyers.

Florida-Specific DPA Programs

1. Florida Assist (FL Assist) Offers up to $10,000 as a 0% interest, deferred second mortgage. Repayment is due only when you sell, refinance, or pay off the primary mortgage.
2. Hometown Heroes Program Provides up to $35,000 in assistance for frontline workers, including teachers, nurses, firefighters, and law enforcement officers. This deferred loan requires no monthly payments and is due upon sale, refinancing, or payoff of the primary mortgage.
3. Salute Our Soldiers Program Offers up to $25,000 in down payment assistance for veterans and active-duty military personnel. This program aims to support those who have served our country in achieving homeownership.

Popular Loan Programs to Pair with DPA

• FHA Loans: Require as little as 3.5% down, making them popular among first-time homebuyers. Pairing an FHA loan with DPA can further reduce upfront costs.
• Conventional Loans (HomeReady or Home Possible): Offer down payments as low as 3% for moderate-income buyers. DPA can assist in covering these costs, making homeownership more accessible.

How to Qualify for DPA in Florida

Eligibility requirements vary by program but often include:

• Income Limits: Programs may have income caps to ensure assistance goes to those who need it most.
• Credit Score: A minimum credit score, typically around 620-640, is often required.
• First-Time Buyer Status: Many programs prioritize first-time buyers, though some are open to repeat buyers.
• Location: Certain programs are available only in specific areas, so it's important to check local eligibility.

Take the Next Step

To determine your eligibility and explore these opportunities, visit the Florida Housing Finance Corporation's website.

Florida Housing

Additionally, the U.S. Department of Housing and Urban Development (HUD) offers resources and counseling services to assist homebuyers.

Investopedia

Don't let the down payment hold you back from homeownership. With these programs, you could be celebrating the holidays in your new home!

?? LIVE Podcast Alert! ?? Are you ready to own your dream home and get help with up to $70,000 in down payment assistance? ????

Join Viv Cunningham, your trusted Realtor, and Michelle Young, Mortgage Loan Originator, for an exclusive LIVE episode where we break down everything you need to know about down payment assistance programs and how YOU can qualify!

?? When: December 9th, 2024

?? Time: 6:00 PM

?? Where: https://us02web.zoom.us/s/87237873747?pwd=6jlOZ2ZR1iWZJeOhBYhRvZ0GcpOebb.1#success

Get all the tips and insights to start your homeownership journey with confidence!

Join us and take the first step toward your new home. ??

Ready to Get Started Now? If you can’t wait until the podcast or want to chat sooner, click here to schedule a free consultation with me. Let’s see how much you qualify for and start your homeownership journey!

Stop making your landlord richer—it's time to invest in yourself!