Downpayment Assistance Programs*:
Your family deserves their own special home! Let the government help you finance your real estate purchase. In conjunction with the First Time Homebuyer Program, Florida Housing offers two down payment and closing cost assistance programs. These work in the form of second mortgage loans and one in the form of up-front cash assistance to help eligible homebuyers cover their down payment and closing costs. Based on the 4 person household you reported, you may be eligible to receive ONE of the following:
Florida Assist (up to $10,000 available)
The Florida Assist program provides up to $10,000 for eligible buyers. Based on your 4 person household, your income may not exceed $39,600.00 to be eligible for down payment assistance through the Florida Assist program. The home's purchase price is limited to $200,160.00 in Polk County.
HAMI Program (up to $5,000 available)
If your income exceeds the limit for the Florida Assist program, consider Florida's HAMI program. You may qualify if your income does not exceed $63,020.00. HAMI will have an interest rate of 5%.
Four Percent Cash Option
The final plan available from the state is the four percent cash option. The cash assistance provides borrowers with 4 percent of the loan amount to be applied toward down payment and closing costs.
*Income and purchase price limitations are subject to change. Call Realtor John Carter or a participating lender for more information.
