Florida home buying programs

Refinances: Not permitted. Any unpaid balance to either of these two second mortgages must be repaid upon sale of property, refinance, payoff 1st mortgage, transfer deed or no longer occupy the property as their primary residence.

HLP Version either FHA or Conventional is a 15 year - low interest rate amortized loan with low monthly payments on the second mortgage. The remaining balance of this mortgage must be repaid when the property sells, is refinanced, rented out or when the Mortgagor leaves the property for any reason. The balance of either FHA or Conventional version of second mortgage is payable and due under the following circumstances.

Both down payment assistance loans are immediately repayable if the homebuyer sells the home, pays off the 1st mortgage, transfers ownership, satisfies or refinances the first mortgage, or ceases to occupy the home.

FHA version Debt to Income back end ratio Conventional versions with FICO middle scores at least has a possible Borrowers are permitted a reimbursement of prepaids and reimbursement of overage of earnest money deposit to the extent any minimum contribution has been satisfied and permitted by FNMA guidelines. Either FHA or Conventional Versions of program, Borrowers must be employed full time with 2 years continuous not necessarily with the same company.

The program is offered to all borrowers who meet income, purchase price and other program guidelines, and can otherwise qualify for a loan. First Time Home Buyer hasn't owned a primary residence in past 3 years. Non purchasing spouse is not required to be a first time home buyer.

These forgivable grants do not require repayment by the borrower. This can be used for down payment, Buyers mortgage closing costs, or can also be used to "split pay" mortgage insurance premium to lower mortgage insurance cost or pay mortgage insurance completely off. This program allows for much higher borrower income limits.

This program can be used anywhere in the State of Florida. Veterans no longer pay Origination Fees on this loan. Last 3 years Federal Tax Returns required. Intangibles Tax and Doc stamps are still exempt under this program. Mortgage Deeds are NOT exempt.

Mortgage Insurance rates could be reduced or even paid off at Closing. Purchase price limits determined by HUD county median income limits. Owner Occupants only-No Investors. Lender Credit not available. Depending on county property is located, income and credit the Mortgage Credit Certificate may be available with this program. Co-Signers not permitted. Competitively priced FHA loan. Mortgage must meet FHA loan guideline eligibility. FHA loan amounts only.

Primary Residences only. No Investment properties. No units. Manufactured Housing allowed. FHA Acquisition price limits. HUD approved Homebuyer education required before Closing. Florida Housing's loan programs are all year, fixed-rate mortgages. Here's an overview:. Florida Housing has a few categories of loans for first-time homebuyers, which include the Florida First program for federally-backed loans plus the FL HFA conventional loan programs and the Preferred or Advantage 3, 4 and 5 percent PLUS programs, which include a forgivable second mortgage to help with down payment and closing costs.

Borrowers who qualify for these year, fixed-rate conventional mortgages will see lower mortgage insurance costs than with comparable federal loan program. The loans can usually be combined with a down payment and closing cost assistance program. Salute Our Soldiers offers lower rates than Florida First, but you don't have to be a first-time homebuyer to use either program.

Borrowers can combine these loans with a Florida Housing down payment and closing cost assistance program. Repayment is deferred until the home is sold or ownership is transferred, or when the loan is paid off or refinanced.

This program provides qualified borrowers with 3, 4 or 5 percent of the home's purchase price to use toward the down payment and closing costs. This second mortgage is forgiven at 20 percent after five years. The mortgage must be paid off over 15 years unless you move, in which case the balance must be paid in full. You may think you will make a good profit from the sale, then thousands of dollars in fees may make your break even or possibly lose money.

With Florida Home Buying Programs from Your Florida House Buyers , you can quickly sell your home for cash without having to worry about paying thousands of dollars in closing fees. Here are some of the fees that you can avoid with our Florida Home Buying Programs.

With our Florida Home Buying Programs , selling a home will be easier and more stress-free than ever. In 10 days or less, we will buy your home as-is and in cash. Forget having to pay for costly repairs in hopes for the chance that someone will think about buying your home. Speak with one of our realtors to see what your options are! If you are looking for Florida Home Buying Programs that do not involve paying expensive closing costs so you can keep your profits, then Your Florida House Buyers is just right for you.

With us, you will not have to worry about the typical hassles of home selling.