As an approved lender for the Broward County HOME Program, we get a lot of calls for down payment assistance funds. Unfortunately all of their funds have been allocated and most likely they won’t have more funds available until October. There are SHIP Funds available
A new millennium, a new wave of home buyers is on the horizon. The average age of millennials, as of 2015, was about age 25. This means that at around age 25, for the most part, schooling should be out of the way, a foundation has been started, and the millennials are looking for somewhere to start their roots. Sunny Fort Lauderdale has much to offer to any first-time homebuyers looking to begin their lives somewhere.
Yes, you read that correctly! Many do not know about this program offered by FHA called the “Back to Work Program.” Here is info from FHA’s Mortgagee Letter that must be met to qualify. This program is great for those in Fort Lauderdale and South Florida since we experienced so many foreclosures, short sales, and bankruptcies.
According to a report by RealtyTrac, it’s 48% more affordable than in 2006. Low interest rates have helped to contribute to this. No one can predict the future but rates are low now and can’t stay low forever.
Over the next week or so the Broward County HOME program will be getting funds to be used for your down payment and up to $50,000 in Plantation and Davie and up to $40,000 for Fort Lauderdale and the rest of Broward County.