Florida Housing Finance Corporation

First Time HomeBuyer Program

 

Florida Housing's First Time Homebuyer Program offers 30-year, fixed-rate first mortgage programs for eligible first time homebuyers (some exceptions apply).  Florida Housing also offers down payment assistance which is only available to borrowers who utilize one of Florida Housing's first mortgage programs.  Borrowers are required to complete a homebuyer education course, through an approved education provider, and must meet Florida Housing's minimum FICO requirement.

 

First Mortgage Programs

Florida First Government Loan Program - This government (FHA, VA, USDA-RD) 30-year, fixed-rate first mortgage is available to all borrowers who satisfy credit requirements and income and purchase price requirements.  Borrowers who qualify for this first mortgage program will automatically qualify for down payment assistance through Florida Housing's Florida Assist second mortgage program. 

Military Heroes Government Loan Program - This government (FHA, VA, USDA-RD) 30-year, fixed-rate first mortgage is available to veterans and active duty military personnel who satisfy credit requirements and income and purchase price requirements.  Additionally, this first mortgage offers a lower rate than the Florida First Government Loan Program.  Borrowers who qualify for this first mortgage program will automatically qualify for down payment assistance through Florida Housing's Florida Assist second mortgage program.  Veterans need not be first time homebuyers to qualify.

Florida HFA Preferred Conventional Loan Program - This conventional (Fannie Mae only), 30-year, fixed-rate first mortgage is available to all borrowers who satisfy credit requirements and income and purchase price requirements.  Borrowers who qualify for this first mortgage program will automatically qualify for down payment assistance through Florida Housing's Florida Assist Second mortgage program.

Down Payment Assistance Program

Florida Assist - This down payment and closing cost assistance program is a deferred, non-amortizing, 0% interest, second mortgage that is repayable when borrowers sell or refinance the property, satisfy the first mortgage or no longer occupy the property as a primary residence.

Fore more information on income and purchase limits in your county or for a list of approved loan officers, Realtors and homebuyer education providers, please visit www.floridahousing.org.

 

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