Specializing in Down Payment Assistance for First Time Homebuyers
Roger Lazzarino, a Real Estate Broker (Mid Florida Realty) and Licensed Mortgage Broker, authored this site to help Florida First Time Home Buyers obtain the down payment to purchase a home. The down payment has been increasingly hard to obtain through traditional savings due to the very weak economy over the last decade or so. He felt that you, the First Time Home Buyers needed a safe and easy place to go on the information highway.
Because Roger has been on all sides of the Real Estate and Mortgage business, he's seen the need for Florida First Time Home Buyers to be informed of the different down payment assistance programs that really do help people obtain home financing.
Our goal, as a responsible Realtor and Mortgage Loan Officer, is to find you a nice and safe home that you can afford and that can allow you the best financing options for Florida First Time Home Buyers. We want to make sure that you’re teamed up with the right Realtor and Approved Down Payment Assistance Lender that is trained on the best programs in the State. There is NO additional cost to you to use our FREE service. The seller always pays the Buyer and Listing Agent's commissions. You the Buyer don't pay any commissions.
Other more national programs include USDA/Rural Development 100% Financing, VA 100% Financing for Veterans, FHA (HUD) $100 down mortgage loans, that in some cases can be linked with Federal or State Down Payment Assistance programs.
Most if not all, First Time Home Buyer programs everywhere require the Buyer/Borrower to have at least $2000 of their own money into the transaction. This can generally be in the form of an Appraisal and/or Earnest Money Deposit on the house. All of the money that the Buyer puts into the transaction goes into the home purchase. None of the Buyers money ever goes toward our Realtor Affiliates. The Seller always pays the Real Estate commissions not the Buyer. You might as well be represented by one of our DPA knowledgeable Realtors that can really help you attain your dream house through Down Payment Assistance!
Most First Time Home Buyer programs require that the first mortgage be an FHA mortgage and the second mortgage will usually be an Interest –Free 2nd mortgage.
However, Florida has several programs that allow for Conventional Financing that can allow the Buyer to one day be rid of Mortgage Insurance or Private Mortgage Insurance. You will need to speak with one of the Approved Lenders (that we recommend) to determine if you qualify for a Conventional program.
Even though USDA and VA Financing do not require any money down on their mortgages, the Buyer usually pays for an Appraisal, possibly a survey and probably a home inspection. First Time Home Buyers need to be aware what those costs will be. One of our Mid Florida Realty agents will tell you approximately what out of pocket expenses you can expect to spend.
Some of the First Time Home Buyer programs will be in the form of Grants and some will be interest free loans, where no payments are due until the Borrower either sells or refinances the property. While still other programs will feature a monthly repayable second mortgage that would in effect allow you 100% financing
None of these loans will have any type of pre-payment penalty and all the loan products should be fully explained by a trained an Approved Loan Officer that we could recommend. Our Realtors and Loan Officers work as a Team, and you’re the biggest part of the Team. You’re the Most Valuable Player!
Thanks for visiting the Florida First Time Home Buyer website! If we can help you purchase a home and get you involved with the best down payment assistance programs in the entire southeast, call us up and we’ll put you in touch with one of our excellent Realtor’s and Down Payment Mortgage specialists. We look forward to speaking with you soon!
Licensed Real Estate Broker
Licensed Mortgage Loan Officer NMLS: 1123746
Mid Florida Realty
Seeking financing can be incredibly stressful. We strive to provide ACCURATE information for you to make an educated decision. This website is continuously updated, but due to the overwhelming amount of program guidelines and the fluid nature of program changes, its best to speak directly with one of our Florida First Time Home Buyer Agents to make sure you’re circumstances and expectations are in line with current guidelines.