This program is designed to make purchasing a home more affordable for home buyers by providing home buyers with affordable interest rate mortgage loans and down payment and closing cost assistance. Mortgage loans in this program are available on a first-come, first-serve basis.
The home buyer may choose between a Conventional, VA-guaranteed, FHA-insured, or USDA-RD 30-year fixed-rate mortgage.
0% Non-Amortizing 30-Year Deferred Second Mortgage: The second mortgage provides up to $10,000*. (Second Mortgage is not forgivable and becomes due when first mortgage is satisfied or upon sale, transfer, rental or disposition of property.) The Second Mortgage is EXEMPT from Intangible Tax.
Borrowers must be first-time home buyers. Veterans are exempt and do not need to be first-time home buyers. A first-time home buyer is someone who has not had ownership of a principal residence during the past three years. Some exceptions apply.
A Homeownership Education Certificate is required for at least one qualified borrower. (Freddie Mac HFA Advantage (Conventional) Program Option only)\
Borrowers must meet normal mortgage requirements to demonstrate credit worthiness. Borrowers must have a minimum of 640 for Conventional, FHA, USDA-RD, and VA Loans to participate.
Borrowers must occupy the purchased home as their principal residence.
Household income may not exceed County Limits (Click to get more info)
How much is a down payment on a house? Call 352-622-1521 to learn more about these programs and how we can help you reach your goals.
Save even more with the Homes to Heroes program.