Homebuyer Mortgage Program with Down Payment Assistance

Florida Housing

Homebuyer Loan Program

FLORIDA HOUSING | HOMEBUYER LOAN PROGRAMS

Florida Housing’s Homebuyer Programs offer qualified homebuyers 30-year, fixed-rate first mortgage loans. The loans are originated by trained and approved participating lenders and are available in all 67 counties throughout the state. The program is offered to first-time homebuyers (unless exempt) who are purchasing a primary residence, meet program income & purchase price limits, can qualify for a first mortgage loan, and who successfully complete a homebuyer education course. Borrowers who qualify for program first mortgage loans automatically qualify for one of Florida Housing’s down payment & closing cost assistance programs.

FLORIDA FIRST GOVERNMENT LOAN PROGRAM

is a govemment (FHA, VA, USDA-RD) first mortgage loan. Veterans do
not have to be first ime homebuyers.
HFA CONVENTIONAL LOAN PROGRAMS

are conventional (Fannie Mae and Freddie Mac) first mortgage loans that may offer reduced ‘mortgage insurance when compared to FHA loans.
THE FLORIDA ASSIST LOAN PROGRAM

is down payment and closing cost assistance offered as a 0% second
mortgage. It is non-amortizing and ‘does not carry a monthly
payment. It offers up to $10,000 (on FHA, VA, or USDA loans) and
$10,000 (on Conventional Loans). However, this silent second”
mortgage is due and payable, in full, upon the sale, refinance, transfer
of deed, payoff of the first mortgage or f the borrower(s) no longer
occupy the property as their residence.
HFA PREFERRED PLUS SECOND MORTGAGE

is a down payment and closing cost assistance second mortgage that is
offered as a 0%, non-amortizing, 5-year term. It's forgiven at the rate of
20% a year over s five-year term. However, if at any time within the first five
years after purchase any of the following occur, the borrower(s) sell,
refinance, transfer deed, pay off the first mortgage, or no longer occupy
the property as thelr primary residence, any 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 the 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