If you are a first time home buyer purchasing a home in South Florida or anywhere in the State of Florida you need to be speaking to us because we offer real first time home buyer products. Not just your regular FHA loans. The best program we have is the Mortgage Credit Certificate. A great way to view this product is if you were getting a loan for $250,000 and rates were at say 4.5% for example, getting the $2,000 tax credit is equivalent to having a rate of 3.375%.
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If you are looking for down payment assistance for the purchase of your new home in Fort Lauderdale, South Florida, or anywhere in the State of Florida then we are your experts for that. There are multiple types of assistance available: Below are some highlights of what the Florida First features:
- Up to $10,000 available
- First Time Homebuyers only – someone who hasn’t owned their legal residence in the past 3 years. Applies to the buyer and spouse even if the spouse isn’t going on the loan or deed.
- 3 years of tax returns for all borrowers and spouses
- You must have a minimum of a 640 middle credit score
- Anyone who will be on the deed and spouse must complete the 8 hour homebuyer education. You will want to set this up immediately. Click here to find an approved counseling agency in your area. Also, your lender may refer you to a counselor.
- You must be within the Household income limits. 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. The household size is determined by the number of people permanently residing in the property.
Down Payment Assistance can also be obtained in other ways like Sellers Assistance. Call us today if you are looking for a Mortgage and we can help find the right Mortgage Product for you.