Home Buying in Miami>Question Details

Curious Geor…, Home Buyer in Miami, FL

How/where to apply for a Florida first time homebuyer assistance program? Can I use it with an FHA loan?

Asked by Curious George, Miami, FL Tue Aug 21, 2007

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Ines Hegedus-Garcia’s answer
Curious George:

Just to build on Ellen and Bridgette's reponses, you can get state and city assistance as well as county assistance. Many counties in Florida (Dade County in my first hand experience) will have Bond programs available periodically throughout the year. Other programs will include Down Payment Assistance which will allow you to buy with little and in some cases, NO MONEY down.

One important word of advice. When choosing your mortgage broker or loan officer be sure to ask if he/she has worked with these programs before. They tend to be tricky on the paperwork level and if the information is not provided in a complete and timely manner, you may loose the assistance to a more savy broker and their client in search of the same help.

Check out the link below for more information of programs available in Florida.

Best of luck.
2 votes Thank Flag Link Tue Aug 21, 2007
I just went through eight months of building a house and within in two weeks of closing my lender tells me I don't qualify for the bond. She said the bond people estimate I make too much money. The problem is the calendar ended oddly last year, so two paychecks from 2013 are on my salary for 2014. 89k is the cutoff and I will be lucky to make 80. Please tell me there is someone I can call or an appeals process. Billy
Flag Thu Apr 17, 2014
Curious,
The hyperlink below (be sure to scroll to the bottom of the page) lists an wide variety of grants (free money) for first time home buyers in Florida. Also be sure to check with the individual city you're interested in, because they sometimes have small unadvertised programs as well. Most of all, be sure to use a buyers agent to represent your interests solely; buyers agents are almost always provided at no cost to the buyer. Get referrals from friends and family to find a good local REALTOR in your area. Best of luck and happy hunting!
2 votes Thank Flag Link Tue Aug 21, 2007
Most counties will have a bond program that can be used with FHA. Contact us with questions.

FHA Mortgage Source
National FHA loans, 7 days a week
Ph: 904-302-6060
0 votes Thank Flag Link Thu Sep 1, 2016
I am looking at some information on the first time home buying program in Metro Orlando area.
0 votes Thank Flag Link Thu Aug 25, 2016
There are many assistance programs that can be combined with an FHA loan or even a Conventional Loan for that matter. MCC or Mortgage Credit Certificates are very popular right now and offer a significant savings up to $2,000 per year or 50% of the interest whichever is less. If you would like to know if you qualify for this program please feel free to contact me. I currently only offers loans in Florida.
0 votes Thank Flag Link Tue Aug 23, 2016
There are many assistance programs that can be combined with an FHA loan or even a Conventional Loan for that matter. MCC or Mortgage Credit Certificates are very popular right now and offer a significant savings up to $2,000 per year or 50% of the interest whichever is less. If you would like to know if you qualify for this program please feel free to contact me. I currently only offers loans in Florida.
0 votes Thank Flag Link Tue Aug 23, 2016
There are many assistance programs that can be combined with an FHA loan or even a Conventional Loan for that matter. MCC or Mortgage Credit Certificates are very popular right now and offer a significant savings up to $2,000 per year or 50% of the interest whichever is less. If you would like to know if you qualify for this program please feel free to contact me. I currently only offers loans in Florida.
0 votes Thank Flag Link Tue Aug 23, 2016
There are many assistance programs that can be combined with an FHA loan or even a Conventional Loan for that matter. MCC or Mortgage Credit Certificates are very popular right now and offer a significant savings up to $2,000 per year or 50% of the interest whichever is less. If you would like to know if you qualify for this program please feel free to contact me. I currently only offers loans in Florida.
0 votes Thank Flag Link Tue Aug 23, 2016
There are many assistance programs that can be combined with an FHA loan or even a Conventional Loan for that matter. MCC or Mortgage Credit Certificates are very popular right now and offer a significant savings up to $2,000 per year or 50% of the interest whichever is less. If you would like to know if you qualify for this program please feel free to contact me. I currently only offers loans in Florida.
0 votes Thank Flag Link Tue Aug 23, 2016
What am out of deposit is required for a house that cost 115.000?
0 votes Thank Flag Link Sat Jul 23, 2016
Hi, I'm very interested Florida first time home buyer assistance program. I live in Pembroke Pines, FL.

I would like to know more about the program . How, and where do I get started?
0 votes Thank Flag Link Thu Jun 23, 2016
It really is teeming with scams on the internet, really not normal. In one week I lost 500usd for payments. I had inquiries made ??at Dandy Cash.com came just disappointed. I would recommend anyone to advertise on the site.I've only tried it a different website, and when I had finally found someone who was still honest (steve.mccclaren309@gmail.com) Because he asked me in advance, but doubted he could give evidence and so I took the risk anyway and I was able to borrow from him. 30000usd,please don't email anybody said to be a loan lender in this website because they are all scams,they disappoint me and run away with my 500usd,Mr Steve Mcclaren is the only one i trust because he gave me the loan i needed,,please do not email anyone in this website because they are scams they pretend to be loan lenders they rip people of their hard earned money the USA Attorney General Of Police are searching for this guys in the internet right now so don't email this guys please they will rip you off like they did to
0 votes Thank Flag Link Thu Jun 16, 2016
If you need help finding a lender that offers the First Time Buyers with Down Payment and Closing Cost Assistance. I can help, I am a realtor with Northeast Florida Homes Inc and I work with a lender that can help you with this program.

In Duval county the assistance is $15,000. In Clay county and St Johns county its $7,500.
The basic requirements are: that you have a credit score of 640 or higher, Have not owned a home in the last 3 years (there are some exceptions to this), and that you are employed with income to meet qualifying ratios. For complete information and to get pre-approved at no cost please call me and I can get things started for you and once you are qualified I can help you find your dream home.

Thank You
Barry McWright, Lic. Real Estate Broker
Northeast Florida Homes Inc
Cell: 904-886-9999
Email: nefhomes@yahoo.com
http://www.NEFHOMES.com
0 votes Thank Flag Link Tue Jun 7, 2016
Things You Should Know: I'm an Affordable Housing REALTOR with Florida Housing Finance Corporation, First Time Home Buyer's may receive up to $15,000 in Florida Assist Bond Money by county with Florida Housing Finance Corporation with a minimum credit score of 640, .
You can contact me to find out if you qualify and I'll do all the leg work for you!

Celebrate Real Estate...Let's Get Moving!

Best regards, Care
0 votes Thank Flag Link Fri Jan 15, 2016
do you have a programs that help repair credit so that i may qualify
Flag Thu Jun 2, 2016
Care is a true ANGEL. I've been working and looking so hard for a house to buy for almost a year now. My budget is very low you see and I have had two realtors that I always had to call when I saw a house within my parameters and they would either wait to long to get back to me and the home was gone, or another excuse. My budget in essence was to low to bother. But when I emailed Care she emailed me back instantly and she has already in two days shown me four houses within my parameters. This one she is showing me Saturday, I PRAY it has no pending contracts except mine. She is so wonderful, knowledgeable in every way as to down payment assistance to anything you might ask of her. If you are in the market to buy a home please give Care a call ,email and she will see to your every need quickly and efficiently. Her name fits her CARE because she does care if your a lowly budget like mine or higher. Whatever your budget she will satisfy your every need. I call her my CARE ANGEL
Flag Thu Mar 17, 2016
Can the 15,000 bond program be used to buy land and build a house or modular home
Flag Tue Feb 23, 2016
Hi, my name is Sheila and I live in Ohio but I am thinking of buying a home in the NSB area. I am not sure how the first time buyers program works or even who to contact about it, any information would be great.Thank You !
Flag Sun Feb 7, 2016
Hi my name is Sheila, I am thinking about buying a home in the NSB area and I am currently living in Ohio but not sure how it all works for first time buyers any information would be great
Flag Sun Feb 7, 2016
hi my name Israel cruz and would love to know more about this program and would love to go about looking into a house if I can get the grant
Flag Wed Feb 3, 2016
There is a program I FREQUENTLY CLOSE 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)

SOUTH FLORIDA ONLY

andrewLtherealtor@gmail.com
954-394-7185 TEXT PLS
0 votes Thank Flag Link Tue Nov 10, 2015
I would like information please
Flag Sun Mar 6, 2016
please may I have the info
Flag Mon Dec 14, 2015
Yes, in most cases you can use bond money program together with FHA. Contact us below to learn about all the first time buyer options here in Florida.

http://www.fivestarsmortgage.com/florida-loan-programs/first…

Five Stars Mortgage
Florida's local home financing resource
7 days week - 9am-8pm
Ph: 800-871-2636
http://www.FiveStarsMortgage.com
0 votes Thank Flag Link Wed Aug 19, 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 Sat May 30, 2015
i live in west palm beach and looking to buy a house and i'll be a first time homeowner and not sure how this grant works and what to do. How do i find out and apply and or who i would need to talk to about this and can you also use this grant towards getting pre qualified for a mortgage at a bank too?
Flag Fri Jun 5, 2015
Where can i find a firstt time home buyer program in Jacksonville fl to purchase a home
0 votes Thank Flag Link Sun Sep 21, 2014
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
0 votes Thank Flag Link Wed Apr 23, 2014
will this work with usda loan
Flag Sun Jun 29, 2014
You can always look into the USDA Home loan if you are purchasing in a qualified location. Please visit http://www.usdamortgagesource.com for more information.
0 votes Thank Flag Link Mon Jan 13, 2014
Yes but there is a 29% (front end) to 41% debt to income ratio (DTI) which becomes a problem even when you have excellent credit and no debt.
Flag Wed Aug 17, 2016
USDA Rural Housing doesn't require any bond money, down payment assistance, special class or waiting. Get pre-approved and go home shopping all in the same day
Flag Fri Jun 12, 2015
June 28, 2013

Yes Florida Assistance will work with FHA. And this link will take you to Florida Assistance.

By Stephen Webber Retired After 34 Years of Real Estate For First Time Home Buyers

Find here an article that will serve you well;

Florida State and County/City Assistance for First Time Homebuyers, MCC Tax Credit, 2013
by Stephen Webber on May 12, 2013

The First Time Homebuyer Program makes purchasing a home more affordable for low-to-moderate income families and individuals by offering fixed, low-interest rate mortgage loans. In addition, Florida Housing also offers down payment and closing costs assistance to eligible borrowers, which can greatly reduce the out of pocket expense to the buyer.

Local SHIP Program

Your county or city government may offer down payment and closing costs assistance to eligible borrowers to make a home more affordable for low-to-moderate income families and individuals. This financing, and other opportunities to help you become a homeowner, are provided through your local State Housing Initiatives Partnership (SHIP) program.

Reminder; A first time home buyer is someone who has not owned their primary residence for three years.

Florida State offers assistance, support, guidance, grants, and down payment assistance!

And they offer seminars, and direction to the cooperating lenders and loan officers.

Your primary concerns are income limits, availability of funds, and geographical restrictions.

Also research the MCC Tax Credit for first time home buyers! The best tax credit ever! The tax credit increases a family’s disposable income by reducing its federal income tax obligation. It is valid for the life of the loan as long as the borrower occupies the property as their primary residence. MCC Tax Credit

Pencil the tax credit and you will discover it is better than the big tax credit offered in 2009.

Articles #6, #7 at Your Road Home.com also offer Useful Information on how to determine which assistance will best serve your goal.

#6 Zero Down Loans, Grants And Assistance For First Time Home Buyers

#7 Loans For First Time Home Buyers

The loan officer and lender you choose is a critical choice. Do they have experience with the programs or will they attempt to guide you to a loan they offer. Before you interview loan officers:

#13 Consultation Interviewing Loan Officers

When you interview real estate agents, article #21 Consultation Interviewing Real Estate Agents, ask if there is any reason sellers will not cooperate with the programs. Be sure you ask the question of someone who has worked with the programs.

Best of Luck, Stephen Webber, 34 Years of Real Estate for First Time Home Buyers
Your-Road-Home.com For First Time Home Buyers
Florida State Assistance For First Time Home Buyers
Web Reference: http://Your-Road-Home.com
0 votes Thank Flag Link Fri Jun 28, 2013
As a first time home buyer you may qualify for down payment/closing cost assistance Florida program. Some may think these programs are only available to low income borrowers, but actually the income limits could range between $60,000 and $102,000 in Palm Beach County depending on the program and the number of people in the household. The maximum home prices for these programs are $391,153 for non-target $478,076 for special target areas in certain cities around the state.

You can get more information by going here http://jrgamboa.com/first-time-home-buyer-guide/

or send me an email to jrg@jrgamboa.com and I'll get you in contact with a loan officer that is an expert in the Florida bond program.

All the best,
0 votes Thank Flag Link Tue Dec 4, 2012
With ameridream it's very easy. Here is some info that will help you with the process...

http://getprequalified.com/article/105056/fha/what_is_amerid…
Web Reference: http://getprequalified.com
0 votes Thank Flag Link Sat Jun 7, 2008
Hi Curious George,
All these answers are great. I would also suggest that you find a Realtor to work with in your county. We, in my office, are working with many buyers going through these programs and can provide a wealth of information for you. Therefore, eliminting much of your foot work. Good luck to you.
0 votes Thank Flag Link Fri Feb 8, 2008
You can always get an FHA loan, if you have the required credit and you are not buying a home priced more than the FHA limits (about $220K). Most counties offer info about home buyer assistance progams.
Web Reference: http://www.doyenrealty.com
0 votes Thank Flag Link Tue Dec 18, 2007
Curious George, love the name! Generally what happens with first time homebuyer programs is that you first determine whether or not you can qualify for the program. The programs come with strict income and asset qualification guidelines, but if you do fall into their requirements, you are then required to take a class about homeownership and the program itself. After which you are given the names of several banks in your area that participate in the program. They are the ones that help you obtain the actual mortgage built around the funds given to you by the city or state.

The link that Bridgette provided is great information for applying for state grants. But keep in mind that it may be possible to expand the assistance you receive by not only applying for state grants but also applying for city first time homebuyer programs. Most cities have funds set aside and relationships with certain banks that can help first time homebuyers get into homes with lower interest rates and with more down payment. I hope this helped, best of luck Curious George!
0 votes Thank Flag Link Tue Aug 21, 2007
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