First Time Home Buyer information Closing Cost Assistance Down Payment Assistance Florida First Time Home Buyer

Owning your own home is a rewarding experience, if a little daunting. There are many great reasons to own your own home:

Tax Breaks - you can deduct the interest you pay on your mortgage, property taxes you pay, & some of the costs involved in buying your home
Value Gains - While there is no guarantee of appreciation, over time, home prices have historically risen.
Building Equity - Money paid for rent is money you will never see again, but mortgage payments let you build equity ownership interest in your home
Savings - When you sell, you can generally take up to $250,000 ($500,000 for a married couple) as a gain without owing any federal income tax
Predictablilty - Unlike rent, fixed rate mortgage payments don't go up over the years. Keep in mind that property taxes and insurance costs may increase, though
Freedom - The home is yours. You can decorate any way you want and be able to benefit for as long as you buy the home
Stablilty - Remaining in one neighborhood for several years gives you the chance to participate in community activities, lets you and your family establish lasting friendships, and offers your children the benefit of educational continuity.

10 Step Homebuying Process

SHOULD YOU WORK WITH A BUYER'S AGENT?

Florida First Time Home Buying Programs

Florida First: This program helps borrowers by offering a low 30-year fixed rate loan. It is for borrowers that need lower rates to make their monthly payments more affordable

Florida Plus: This program offers a low 30-year fixed rate loan and 4% of the loan amount to borrowers as a grant to help pay down payment and closing costs.

Florida 40: 40-year fixed rate loan product to assist borrowers what need lower monthly payments to attain homeownership.

Florida 40 Plus: The Florida 40 Plus will also offer 4% of the loan amount to assist with down payment and closing costs and has a 40 year term.

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Down Payment & Closing Cost Assistance

Florida Assist Program:
Provides up to $10,000 in assistance
0% interest, deferred principal until the sale of the home
HAMI:
Provides up to $5000
HAMI interest bearing 10 year loan

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Download the abve information

Florida Housing Commission

Fannie Mae

State Housing Initiatives Partnerships Program (SHIP)

SHIP Money can be used for:
Down Payment Assistance
Housing Rehabilitation/Repair
New Construction
Purchase Assistance
Foreclosure Intervention
Disaster Mitigation/Recovery

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There are many other financial assistance programs out there, contact me and I will get you in touch with a lender who can find what is right for your situation.