Florida Bond Program AKA First Time Homebuyer Credit

Dated: May 2 2017

Views: 170

• The counties are Hillsborough, Pasco, Pinellas, Polk
• $15,000 in down payment funds forgiven at the rate of 20% per year and FULLY FORGIVEN AFTER YEAR 5 as long as you live in the home as your primary residence.

•Funds can be used for closing costs, downpayment, and/or pre-paids like taxes and insurance

• 30 fixed rate mortgage

• Minimum credit score 640+ middle score for 95% loan to value
• Minimum credit score 680 + middle score for 95%- 97% loan to value
• Home buyer education required
• Discount on monthly mortgage insurance for those that qualify
• Annual Income limits and purchase price limits do apply
• Non- occupant cosigners not permitted
• Owner occupied, single family properties
• Townhomes or Condos (Condos must be prior approved)
• Cash back is not allowed at closing

Call me for more information! I have an excellent lender in place who are well-experienced in the process!


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