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  • First Time Homebuyer Loan Program (English)

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    Anwar Brooks
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    Florida Housing offers several first-time homebuyer loan programs, including an FHA or VA loan program for veterans, conventional loans that may have lower mortgage insurance than FHA loans, and down payment assistance programs. The down payment assistance programs include a silent second mortgage of up to $7,500, a 0% second mortgage forgiven over 5 years, or a 3% amortizing second mortgage of $10,000 over 15 years. Borrowers who qualify for a first mortgage loan also qualify for down payment assistance.

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    first-time-homebuyer-loan-program-(english)276696c2fb0d6fb69bf3ff00004a6e0f

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    Florida Housing offers several first-time homebuyer loan programs, including an FHA or VA loan program for veterans, conventional loans that may have lower mortgage insurance than FHA loans, and down payment assistance programs. The down payment assistance programs include a silent second mortgage of up to $7,500, a 0% second mortgage forgiven over 5 years, or a 3% amortizing second mortgage of $10,000 over 15 years. Borrowers who qualify for a first mortgage loan also qualify for down payment assistance.

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    © All Rights Reserved
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    59 views1 page

    First Time Homebuyer Loan Program (English)

    Uploaded by

    Anwar Brooks
    Florida Housing offers several first-time homebuyer loan programs, including an FHA or VA loan program for veterans, conventional loans that may have lower mortgage insurance than FHA loans, and down payment assistance programs. The down payment assistance programs include a silent second mortgage of up to $7,500, a 0% second mortgage forgiven over 5 years, or a 3% amortizing second mortgage of $10,000 over 15 years. Borrowers who qualify for a first mortgage loan also qualify for down payment assistance.

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    Florida First Government Loan Program is a government

    (FHA, VA, USDA-RD) first mortgage loan. Veterans do not have to


    be first time homebuyers.

    HFA Conventional Loan Programs are conventional (Fannie


    Mae and Freddie Mac) first mortgage loans that may offer reduced
    Florida Housing’s Homebuyer Programs offer mortgage insurance when compared to FHA loans.
    qualified homebuyers 30-year, fixed-rate first
    mortgage loans. The loans are originated by The Florida Assist Loan Program is down payment and closing
    trained and approved participating lenders and cost assistance offered as a 0% second mortgage. It is non-amortizing and
    are available in all 67 counties throughout the does not carry a monthly payment. It offers up to $7,500. However, this
    “silent second” mortgage is due and payable, in full, upon the sale,
    state. The program is offered to first time
    refinance, transfer of deed, payoff of the first mortgage or if the borrower(s)
    homebuyers (unless exempt) who are
    no longer occupy the property as their primary residence.
    purchasing a primary residence, meet
    program income & purchase price limits, can HFA Preferred PLUS Second Mortgage is a down payment and
    qualify for a first mortgage loan, and who closing cost assistance second mortgage that is offered as a 0%,
    successfully complete a homebuyer non-amortizing, 5-year term. It is forgiven at the rate of 20% a year over its five
    education course. Borrowers who qualify for year term. However, if at any time within the first five years after purchase any
    program first mortgage loans automatically of the following occur, the borrower(s) sell, refinance, transfer deed, payoff the
    qualify for one of Florida Housing’s down first mortgage or no longer occupy the property as their primary residence, any
    payment & closing cost assistance programs. unpaid principal balance will become due and payable, in full.

    Homeownership Loan Program (HLP) Second Mortgage


    is a down payment and closing cost assistance second mortgage
    that offers $10,000 at an amortizing, fixed rate of 3% over a 15-year
    term. This second mortgage carries a monthly payment. If the
    borrower(s) sell, refinance, transfer deed, payoff the first mortgage
    or no longer occupy the property as their primary residence, any
    unpaid principal balance will become due and payable, in full.

    For more information on income and purchase limits in your county


    or for a list of approved loan officers, please visit our website at
    www.floridahousing.org.

    227 North Bronough Street, Suite 5000 • Tallahassee, FL 32301 • 850.488.4197 • www.floridahousing.org

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