Program for First Time $35,000 Homebuyers down payment ...
Down Payment Assistance Program for First Time Homebuyers
You may be eligible for up to
$35,000
down payment assistance
WHAT IS THE DOWN PAYMENT ASSISTANCE PROGRAM?
The Down Payment Assistance Program provides funding to eligible first time homebuyers to purchase a new or existing home.
WHO QUALIFIES?
First Time Home Buyers:
A person who has not owned a home in the past three years. Exceptions are made for displaced homemakers.
2021 Income Limits Chart
Your household annual income must fall within the one of the categories below:
ELIGIBLE PROPERTIES
? Maximum sales price for new and existing is $230,000.
? Single Family homes, condominiums, townhouses, modular homes located in Orange County limits, but outside the Orlando City limits.
? Mobile Homes are not eligible.
HOW DO I GET STARTED?
1. Consult a Real Estate Agent and use a certified banker/lender to discuss home ownership opportunities and apply for your mortgage loan.
2. Contact one of the following HUD-certified
housing counseling agency and enroll in the
FREE Homebuyers Educational Seminar. At
Income Category House-hVoledry low Low DPA:$M2o5d,0e0ra0te
the end of the 8 hours class, you will receive a certificate of completion. This certificate is good for ONE year.
size DPA:$35,(08000% DPA:$15,000
1 2
($5206%,750 o$f4M2,E75D0IAN($1)6240,2%00 o$f3M0,E55D0IA$N4)8,850 o$f73M,E32D0IAN)
H.A.N.D.S. of Central Florida 407-447-5686 (OPTION 4) English 407-447-5686 (OPTION 2) Spanish
3
$34,350 $54,950 $82,440
4
$38,150 $61,050 $91,560
5
$41,250 $65,950 $99,000
6
$44,300 $70,850 $106,320
7
$47,350 $75,750 $113,640
Consumer Credit Counseling Service MD (CCCSMD) 877-355-1763
8
$50,400 $80,600 $120,960
Housing & Education Alliance 407-955-9036 (Orlando Office)
classes/
? Contribute the greater of $1,000 or 1.75% of the sales price towards the home purchase.
? Have a middle credit score of 620 or above.
? Residency in Orlando Metropolitan Statistical Area (Orange, Osceola, Seminole or Lake County) during the last 12 months.
? Must have legal right to permanently reside in the United States.
3. Find a home priced within the program sales price limits and within your pre-approved loan amount.
4. Complete our down payment application package with your lender and forward it to the Housing and Community Development Division. I
5. 4. Orange County will review your application, and
if approved, we will contact you, set up an appointment, and provide assistance funds prior to your closing.
LOAN CONDITIONS AND REPAYMENT ? Assistance up to $35,000 may be
provided. Funding may be used for qualified closing costs and down payment associated with purchasing a home.
? Orange County's Down Payment
Assistance must be repaid if the property is not occupied by the borrower during the lien period, sold, rented or refinanced.
? 10 year deferred payment loan.
For additional information about the Down Payment Assistance Program contact: Orange County Housing and Community Development Division 525 East South Street Orlando, Florida 32801
Telephone: 407-836-5171 Fax: 407-836-5197
NeighborsHousing/ HomebuyerDownPaymentAssistance.aspx
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