$10,000 Down Payment Assistance for First Time Home buyers!
Updated November 27, 2023$10,000 Down Payment Assistance for all Florida First Time Home buyers who qualify!
Program Features:$10,000 Down Payment Assistance for all Florida First Time Home buyers who qualify!
- Florida Assist HFA State Bond Down Payment Assistance in Florida for First-Time Home Buyers All Florida counties.
- 30-year, fixed-rate first time home buyer mortgage loans originated by trained and approved lenders throughout the State of Florida. The program is offered to all borrowers who meet income, purchase price, and other program guidelines and can otherwise qualify for a loan. 1st Time Home Buyers who qualify for this first mortgage program are automatically qualified for this down payment assistance program.
- 1st Time Home Buyer or hasn't owned a property for at least 3 prior years.
- Down payment assistance comes in the form of a $10,000-0% interest 2nd mortgage loan. A loan to be repaid when the property is sold, refinanced, or ceased to be lived in by the original First Time Home Buyer.
- The down payment assistance can be used for either the down payment, Buyers mortgage closing costs, or in the case of a Conventional version, may split pay mortgage insurance premium to lower mortgage insurance cost.
- The Florida Assist offers a 30 year, 0% fixed rate, deferred but accelerated upon any of the following - the sale, transfer or other disposition of the property (including involuntary transfer by or as a result of foreclosure or judicial sale, or operation of law), The FL Assist second mortgage must always be repaid.
- Must be primary residence for First Time Home Buyer.
- Veterans no longer pay Origination Fees on this loan.
- Minimum middle FICO version 5-4-2 credit score 660 for 95% LTV or less; maximum 104.99% CLTV
- No cash back at closing; any excess funds will be used as a principal reduction.
- 1 unit only: single-family residences, townhouses with 95% LTV or below. No manufactured homes
- FHA version: entire household income from all household residences used for qualification purposes.
- Conventional version 1003 Borrower to be used for qualification purposes; spouse not required to be on 1003 for qualification purposes.
- FHA version (Debt to Income) back end ratio: 44.99% or less for FICO scores of 700 or lower.
- A conventional version of the program with a 700 FICO or higher may qualify for 49.99% back-end ratio (debt to income) or whatever AUS will approve.
- Lower mortgage insurance rates for Borrower on FHA program.
- FHA version allows up to 6% seller contribution maximum towards Buyers closing costs.
- The conventional version allows up to 3% seller contribution maximum towards Buyers closing costs.
- Purchase only No "construction to perm" loans, no investment purchases, no refi's.
- Purchase price limits determined by 115% of HUD county median income limits.
- First Time Home Buyer, Owner Occupants only, must occupy within 60 days.
- First Time Home Buyer education required by HUD approved agency (online or in person).
- Florida e-housing fee's $225 compliance fee + $400 US Bank funding fee + $85 tax service fee calculated minus the $10,000 down payment assistance.
- Intangibles tax and Doc Stamps are EXEMPT.
- FHA guidelines apply to this product. This is not a conventional loan product.
- Co-Signers/Non-occupying Co-Borrowers allowed if related by blood, marriage, or law and agency guidelines.
- Lender Credit not available.
- This program can be used anywhere in the State of Florida.
Other Florida First-Time Home Buyer & Down Payment Assistance Programs:
- 100% Community Advantage Special Conventional Financing
- Hometown Choice Conventional Special Mortgage Financing for First Time Home Buyers
- First Time Homebuyer 100% Special Financing with No Mortgage Insurance
- First Time Home Buyer Special Financing matching Grant Loan by FHLB
- $10,000 Down Payment Assistance for First Time Home buyers!
- USDA - 100% Home Financing and lower Mortgage Insurance than FHA Loans!
- Down Payment Assistance Unlimited Income Grant for 100% Financing for Home Financing!
- 2023-Florida Hometown Heroes Housing Program for State of Florida.
- 1st Time Home Buyer 3%-5% Grant for Down Payment Assistance
- Salute Our Soldiers 100% VA Loan Program for Honorably Discharged Veterans
- Lease-to-Own and Rent-To-Buy-Home program. This is a great Home Buying program for All Florida Middle Income Home Buyers!
- First Time Home Buyer 105% Special Financing with No Income Limit
- Manatee $10,000 Key Ownership Down Payment Assistance Grant for First Time Home Buyers
- Bank Statement loans for the Self Employed up to $3M!
- OWN A HOME Down Payment Assistance Grant (Not required to be a 1st Time Home Buyer)
- Miami-Dade 1st Time Home Buyers Down Payment Assistance program
- Opportunity Advantage Loan Fund
- Home Sweet Home 1st Time Home Buyer program for Hillsborough, Clay, Brevard and Duval counties with up to $25,000 Down Payment Assistance.
- 1st Time Home Home Buyer, $10,000 Down Payment Assistance program
- First Time Home Buyer 3.5% Grant for FHA Down Payment Assistance
- First Time Home Buyer $10,000 deferred Down Payment Assistance loan
- Home Key Down Payment Assistance programs for Pinellas, Pasco and Polk County Florida
- Palm Beach County 1st Time Home Buyer Grant and Down Payment Assistance Program
- Investor Real Estate Loans for Rental Property purchase!