Tuesday, March 22, 2005

$28 million available for first time homebuyers

Interested in finding out more about Florida Housing’s First-Time Homebuyer Program can visit www.floridahousing.org

There are three downpayment assistance programs and a new 3 percent cash assistance option available. In some cases, homebuyers could be eligible for up to $25,000 in assistance.

First-time homebuyers purchasing homes in Urban Infill areas, Federally Designated Targeted areas, Front Porch and HOPE VI communities; or participants in the Self-Help Housing Program as well as disabled homebuyers may be eligible for mortgages at a subsidized rate of 4.99 percent. Other interest rates available include the program's standard 5.55 percent and a new 6.25 percent rate with a 3 percent cash-back option. Florida Housing’s products are 30-year fixed-rate mortgages.


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