Florida Bond – HAMI $5k Down Payment Assistance
If you are looking to purchase a home anywhere in Florida and you don’t qualify for the $7500 Florida Assist Down Payment Assistance program you will want to look into the $5k Homeowner Assistance for Moderate Income (HAMI) loan. This loan is typically behind an FHA, VA, or USDA first mortgage. This is a bond, not a grant. I have helped a lot of first time homebuyers in the Fort Lauderdale and South Florida area. All you have to do is the 8 hour first time homebuyer education course and we handle the rest.
In order to qualify you have to be within the income limits for your county and family size. To find out the income limits for your County click on the link below, click on the First Time Homebuyer Program image in green, choose your County, and the Number of People Living in the Household: www.floridahousing.org or contact me.
It is a 10 amortizing loan but accelerated if any of the following occur – a sale, transfer, other disposition of the property (including any involuntary transfer by or as a result of foreclosure or judicial sale or operation of law), refinance or satisfaction of the 1st mortgage. It is repayable and never forgiven. The interest rate is 5%.