Home Buying in 33178>Question Details

Disneyfan, Home Buyer in Miami, FL

How & where do I apply for a Florida first time homebuyer assistance program and/or a FHA loan?

Asked by Disneyfan, Miami, FL Sun Jan 25, 2009

I am looking to purchase a home(first time) in the Doral area(33178 area code)...I am a single mother of one child and I looking for an fha loan/dpa or small down/no down....how does this work? I need all the advice I can get...can you help?

Thank You

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Yes the Homeowners Assistance Program is the same as the Down Payment Assistance or DPA that you are talking about. You can only get an FHA or conventional loan with the program. The DPA is a non-interest loan that does not require a payment. It must be paid off for your to refinance house or is due upon sale of your home. At the 50-80% you would qualify for upto 60K which can be applied toward a home purchase and help you qualify for the FHA loan that you will get to purchase the home. The program changes every year and is highly competitive so confirm all the information that I am telling you. To get the funds you have to attend a class which will help you understand things like your credit, budgetting, financing, etc. The class will also answer a lot of the questions you have and will have. You cannot get the DPA without the class. It will take more than being eligible by income. Be prepared to work for these funds and you will have to have some funds to be eligible - usually about $1000.00 and whatever out of pocket expenses i.e. home inspection and appraisal. DPA closings tend to also be lengthy so be prepared for it to take upto 60 days. Make sure you go the the event in your county in February - it will help you. As a county it looks like they have a lot of information so that is good for you too.
0 votes Thank Flag Link Sun Jan 25, 2009
The classes are there to educate you on the buying process, the mortgage process, credit, etc. Since the money is a non-interest loan to help people who may not otherwise be able to buy - they want to protect you and the home as much as possible from foreclosure etc. The money is also for first time home buyers or buyers who have not owned a home in over 3 years. So there is an assumption that you as the consumer know nothing about the process of homeownership and need help with this. The certificate will have to be turned in along with your financial worksheet to the county and is a qualification for the DPA money. You do not qualify without the class. Acorn may try to get you to use one of their loan officers - I would check with a couple and find someone on the list the county gives you that seems to give you information and know what they are doing. Do not go to multiple mortgage brokers and have your credit pulled multiple times. When you are comfortable with the person you chose they will be able to get you the loan you need since you can only do two types of loans with DPA - FHA and Conventional 30 year fixed. So you don't need someone who can do all different types of financing.
3 votes Thank Flag Link Mon Jan 26, 2009
Disneyfan:

I am not in your market, however each state has a housing finance agency with first time home buyer programs.

Here is a link for Florida homebuyer assistance:

http://www.floridahousing.org/Home/HomebuyersRenters/default.htm
1 vote Thank Flag Link Wed Jan 28, 2009
Well, I took my first home buying class today with Acorn Housing...the 8 hour course that was supposed to be in two days, lasted about an hour...got my certificate and good bye!.

Gave information about county and city grants and how to obtain them...now is a good time to buy a house but don't apply with bank of america nor citi mortgage...they are not giving out money.....Some class, huh?

What's my next step? My mortgage lender at Wells fargo has not given me a response to my pre-approval?..how long does it take?

I feel I learned crapola from this class today.
1 vote Thank Flag Link Wed Jan 28, 2009
I understand that I have to go to a special class to get a certificate for the Homeowners Assistance Program in Miami Dade County, I went through the list of on their site and chose Acorn Housing, they have a class this upcoming Wednesday at 6pm...

When you attend these classes you get a certificate to show the lender for this type of loan? What exactly do these classes do for you? Why is the certificate needed and what would be the next step in getting approved this loan?

thanks!
1 vote Thank Flag Link Mon Jan 26, 2009
Try the housing authority for Miami-Dade. They are holding a workshop in February. I know that downpayment assistance money if very very competitive so you will probably want to go to see what your chances are in your income category. The best income bracket to be in is under 80% for the county less competition. Please contact me if you need further assistance and I will try to help.
1 vote Thank Flag Link Sun Jan 25, 2009
There is a program that I use that provides 10,000 towards your down payment and closing costs. It is a zero interest and zero payment loan that is only due when/if you sell the home. I have closed using this program several times and would be happy to assist you. Also I use a 2,000 tax credit program, which enables you to receive a 2,000 tax credit for the life of your loan.
HERE ARE SOME OF THE REQUIREMENTS

1-Must not have owned a home in 3 years.
2-Must have been in the same line of work for 2 years
3-Must make more than 25k but less than 80k
4-Must have 1,000 to put into the deal.
5-640 minimum credit score.

Contact Andrew 954-394-7185 Text first Please!!!!!!!
andrewLtherealtor@gmail.com
0 votes Thank Flag Link Thu May 28, 2015
There is a program I just closed with, that provided 10,000 towards down payment and closing costs. Please contact me if interested. I use this program regularly I could show you the HUD statement for my home that I bought using this program. On a 225,000 home I paid 6,600 out of pocket. That is less than the 3.5 required by FHA.

Requirements
2 years with the same line of work
3 years of tax returns w-2s etc.
Last 2 paychecks
Must not make more than 70,000 a year and must not make less than 24,000
Need to contribute at least 1% of purchase price of your own money (Not a gift)


andrewLtherealtor@gmail.com
954-394-7185
http://www.realliving.com/Andrew.Liebenhaut
0 votes Thank Flag Link Wed Jun 25, 2014
There is a program that I use, that gives fha buyers (who meet the requirements) a 10k interest and payment free loan to take care of the down payment and closing costs on the home. You only pay back the loan when you sell. If you pay your loan off, you do not need to pay the loan either.

Qualifications
3 years of tax returns
640 credit score
Must not make more than 70,000 individually
Must make more than 25,000
Must live in the home as the primary residence
May not own another home at the time of purchase

If interested and are not working with another realtor, you may contact me.

Andrew
954-394-7185 TEXT FIRST - NAME, NUMBER AND BRIEF DESCRIPTION
andrewLtherealtor@gmail.com
Real Living/First Service Realty
http://www.realliving.com/Andrew.Liebenhaut
0 votes Thank Flag Link Tue May 20, 2014
are you still looking to buy a home? there is an excelent program with the miami Dade County that might fit you,
Contact me

Alberto Romero
Keller Williams Realty
305-338-6474
0 votes Thank Flag Link Tue Apr 20, 2010
You can apply with a mortgage officer.
0 votes Thank Flag Link Sat Feb 21, 2009
I thought the homebuyer program was suppose to help you with down payment assistance?

I finally got to speak with my wells fargo lender and he stated that the program provided by Miami Dade County county(MMAP) offers up to 4% for down payment & closing cost but when I spoke to him yesterday, he told me I still have to come up with at least $7000 for closing cost?? This on an fha loan also.. Am I undertanding this correct??

Also, so far(though he is still working on it), I was only approved for about $105,000..can I get something in this price range in the Doral 33178 area?(probably not!)
http://www.miamidade.gov/mmap/program-housing.asp
0 votes Thank Flag Link Thu Feb 12, 2009
Hello Disneyfan,

I'm just now reading the post you left after have taken the home buyers' class. Sorry to hear it wasn't helpful. As a Realtor having experience dealing with first time homebuyers and hearing their stories that's usually the case when they attend one of the homebuying classes. The best solution to your problem is to contact a full service Realtor who has experience and patience working with first time home buyers and who will not only walk you through the process from A-Z but also explain each step of the process with informative answers so after the purchase of your first home you're an informed homeowner as well.

Many of my previous and current clients were in the same position you are in; however, after us working together, in some instances, for several months I'm proud to say all of them are informed homeowners or on their way to becoming. It's not an easy task or an overnight accomplishment. Having an experienced and knowledgeable Realtor by your side who you can trust is the first step.

I recommend you interview several Realtors. Ask questions...and remember there's no such thing as a dumb question. See how they respond...if they are easily annoyed. Make a mental note if they're accessible at times when you've called and, if not, how long does it take them to return your phone call. Also, most importantly, ask if they have a full service team in place who can help you with all aspects of the buying process, i.e., mortgage, title, insurance,etc. If so ask for their information and interview them as well before making your final decision. Happy house hunting!

If you need additional information please feel free to give me a call 305-788-6643 or AndreShambley@Keyes.com. I will be more than happy to assist.
0 votes Thank Flag Link Wed Feb 4, 2009
I have never taken the buyers class - you may want to go to the education seminar that Florida housing is holding in February to see some of the other vendors that might fi what you are looking for. Any bank will take upto a week to get a pre-approval to you. Usually the person who takes your application is different from the loan officer you will speak to. If you have the contact number - give them a call and talk to them. Then find a realtor and start house hunting.
0 votes Thank Flag Link Wed Jan 28, 2009
Good Afternoon Disneyfan,

All the agents here has given you a wealth of great information. If I may include one more piece of information you may want to have at your disposal is HUD's FHA $100 down payment program. If you purchase a Housing & Urban Development property you may qualify for an $100 down payment FHA loan.

For more information about this program feel free to contact me or Jacinta Shambley with Apex Lending. Both of our contact information is listed below.

When it comes to choosing professionals to assist you with your real estate needs...Experience is Priceless! Andre’ Shambley & Miami’s Best REALTOR®. Team, The Keyes Company, 305-788-6643. AndreShambley@Keyes.com, http://www.OnePlaceOpenHouse.com



Ready to refinance or looking for a better rate? For your complimentary rate quote visit Jacinta Shambley, APEX Lending, Inc. JShambley@APEXLending.com . http://www.JShambley.ApexLending.com
0 votes Thank Flag Link Mon Jan 26, 2009
If you buy in certain areas, you can purchase a home with 0 down with a USDA loan.

I am a mortgage broker. If I can be of service, please let me know!

Martin Smith

Precision Funding
877-238-6324 Ext 704
513-536-7184
877-238-6324 FAX
MSmith@PrecisionFundingUSA.com
http://www.PrecisionFundingUSA.com
0 votes Thank Flag Link Mon Jan 26, 2009
"Lisa"...thank you for the information on Homeowners Assistance Program...I just contacted Miami Dade Housing(the link you posted) and spoke to a very nice lady there....She told me that yes, the program does exist but I have to go to the two classes(there's a list on their site) and then my lender should take it from there.
She also said I can get housing Anywhere in Miami-Dade County, including of course Doral, which is what I am looking for.

Thank You for your advice...All of you!...I will be back daily as I have plenty plenty of questions...Now is to find a good bank/lender and an fha approved home.
0 votes Thank Flag Link Mon Jan 26, 2009
Hello Disneyfan,
You can get a FHA loan with 3.5% down payment, i can referr you to a Mortgake Broker who has a lot of experience with FHA loans.Need help ? Call me!
Regards,
Rosie
0 votes Thank Flag Link Mon Jan 26, 2009
I just contacted Wells Fargo mortgage in my area and they do offer fha loans but I was told that Miami dade county is no longer offering the down payment assistance or any assistance at all....I mentioned dpa and hap and they said it didn't exist anymore for us....is this true?
0 votes Thank Flag Link Mon Jan 26, 2009
I'm sorry for all the questions but is a Homeownership Assistance Program (HAP) the same as a DPA? Can I use this with an FHA loan? what is the difference if not the same?

From the link you sent me(Lisa), I fall under the low income limit(50.01% - 80% low) for two people....does this mean I can qualify for this type of assistance?
0 votes Thank Flag Link Sun Jan 25, 2009
Usually with down payment assistance you can depending on the price of the home use an FHA or a conventional loan. They do not allow for any other type of loan an it must be a 30 year fixed rate. The home must past inspection by the city or county it is in and appraise. The mortgage broker/loan officer will also have to submit certain documents for you to certify that you are eligible. Please see the following links which may help you find more information for your particular county.

http://www.miamidade.gov/mmap/program-housing.asp

To find approved lenders please see the list on the following document
http://www.miamidade.gov/mmap/library/hap_lenders.pdf

You will also need to attend classes to be eligible but see your local Affordable Housing Office to see what the county qualifications are.
0 votes Thank Flag Link Sun Jan 25, 2009
But can I get an FHA loan with "possible" dpa in the Doral area?
0 votes Thank Flag Link Sun Jan 25, 2009
Hi Dysneyfan,
If you wish, I could refer you to a mortgage broker who has many years of experience doing FHA loans.
Ernesto Joubert
786.285.4962
realejoubert@aol.com
0 votes Thank Flag Link Sun Jan 25, 2009
Hi Disneytan!!

Talk to a realtor to see who in the area (banks) are doing more first time homebuyer loans--as they have more knowledge and patience with someone not familiar with the process. Another avenue is to check around new construction projects that have been completed, as they frequently have preferred lenders who many times will give you a lot of extra financial considerations to sell their product!! I work on a new construction townhome project, and our builders are always putting in incentives to assist first time homebuyers. Go visit some open houses and talk with different realtors--good way to find someone who you can work well with, instead of just picking up a phone and calling from the yellow pages. These are three different ways to start your search.

Good luck, and happy house hunting!!

If I can be of any other assistance, contact me at:
email: MykeSaysSold@aol.com
http://www.NicevilleHomeSales.com
http://www.DestinHomeSale.com
850-305-6256
Web Reference: http://www.MykeTriebold.com
0 votes Thank Flag Link Sun Jan 25, 2009
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