Are you ready to take the leap of faith and purchase your first home? Good for you! Be sure to read our blog in the future about buying vs. renting so stay tuned! So now that you have worked hard to get where you are in life and are ready to purchase a home…now what?

   

            Most people don’t realize there are programs out there to help them get into their first home, but there are! Here are some that are offered in the state of Florida along with the link to learn more information.

 

            First up we have the First-Time Homebuyer program and this offers a 30 year fixed rate loan through participating lenders. There are income and purchase price limits that do apply to the stipulations so be sure to inquire first! You must also have a FICO credit score of 640 to qualify.

 

            Next up we have the local SHIP Program this is for low-to-moderate income borrowers to inquire within their local county as to what down payment or closing cost assistance is available.

 

            We also have the Florida Housing Mortgage Credit Certificate Program. Whew! That was a long phrase to say!?!? What this program does is allow first time homeowners to claim up to $2,000 each year as a tax credit on the Mortgage interest paid. Please note that this cannot be combined with the First-Time Homebuyer Program listed above. Income and Purchase Price limits do apply to this program.

 

            Be sure to check out the Florida Housing website for more information:

http://apps.floridahousing.org/StandAlone/FHFC_ECM/ContentPage.aspx?PAGE=0045