Down Payment & Closing Cost Assistance Programs

Do you have a dream about owning your own home? Tired of renting and paying the landlords mortgage? Need a little help with your downpayment and/or closing costs? Don't miss the opportunity to take advantage of one of the best Buyer's market in history. Thanks to multiple State and Local programs, help is just a click away. As we all know, State and County programs are not just putting anyone into a home. You still must have a steady job and/or consistent income, acceptable credit score, reasonable debt to income ratios, etc. But, if you are serious, I can help!

Feel free to review the information below and call me directly to discuss the different program details and your options for qualifying. Always remember...if you don't have a dream, you can't have a dream come true!!!

Introduction:

The S.H.I.P (State Housing Initiative Partnership) Program - The State of Florida has developed several proactive initiatives to encourage the provision of affordable housing at the local level. One such initiative is the State Housing Initiatives Partnership (SHIP) Program, which was created by the William E. Sadowski Affordable Housing Act of 1992. The act establishes a dedicated revenue source to be used by local governments and municipalities to create affordable housing opportunities.

The Florida Housing Bond Program - is another excellent option available for Buyer who live in Orange, Seminole, Lake and Osceola Counties. The program is designed for First-Time Homebuyers (can't have owned a home within the last 3 years). Assistance amount is up to $7,500.00 which can be used for Down Payment and/or Closing Costs. There is a maximum household income limit, but it is quite generous. You must have a minimum credit score of 640 and can only use the funds for Existing Homes, New Construction Homes, Townhomes, and Condo purchases. Please click the link below for more information.

Click here to see a flyer on Bond Program

Orange County Down Payment Assistance Program:

The purpose of Orange County's Down Payment Assistance program is to provide funds to qualified first time homebuyers for down payment and closing costs associated with purchasing a home. The program will provide assistance to qualified very low, low and moderate income persons in Orange County on a first come, first ready basis. The program also requires that potential homebuyers complete a pre-purchase and post-purchase education program. Follow the link below for detailed information including: DPA program overview, application, lender package, guidelines, etc.

Click here to go to Orange County DPA

Lake County Down Payment Assistance Program:

Lake County offers assistance to help low and moderate income households purchase homes. The program is funded through the State Housing Initiatives Partnership (SHIP). The funds can be used for down payments, closing costs and mortgage buydowns for new homes, or for existing homes that have been or will be repaired within twelve months of transfer of title. The maximum purchase price for new and existing homes is $247,387. Up to $5,000 of the assistance can be used for repairs to existing homes. Extremely low, very low and low income households purchasing newly constructed homes will also be eligible for partial impact fee waivers. The amount of SHIP assistance available varies by income category. Follow the link below for detailed information including: DPA program overview, application, lender package, guidelines, etc.

Click here to go to Lake County DPA

Seminole County Down Payment Assistance Program:

Follow the link below for detailed information regarding Seminole County's housing and financial assistance programs including: DPA program overview, community service block grants, first-time homebuyers program, application links, lender package, guidelines, etc.

Click here to go to Seminole County DPA

Osceola County Down Payment Assistance Program:

S.H.I.P. Down-Payment Assistance Application period will begin TBD. In order to obtain an application for assistance, the following requirements must be met:

  • 12hr - First Time Homebuyer's Education Certificate (provided by Osceola County Extension Services)
  • Current Pre-approval Letter from one of Osceola County's Participating Lenders (no more then 60 days old) Applications can be obtained in person at the Osceola County Human Services Division, located at 108 Park Place Blvd., Kissimmee, FL 34741 or here online when available. Applications must be hand-delivered to the office with the attached requirements. Have questions? Contact us at 407-742-8400.

The Osceola County housing assistance program is designed to make affordable housing available to citizens with an income that is classified as moderate or lower. The number of moderate funding is limited to funding restrictions.

The State Housing Initiatives Partnership (S.H.I.P.) program provides funding to local governments to assist citizens to become homeowners. Eligible first-time homebuyers will receive financial assistance to help with the costs of buying a home. S.H.I.P. partners in Osceola County include lending institutions, housing developers, community based housing, service organizations and affordable housing professionals. Applications are processed on a first-come, first ready, first served basis. Maximum financial assistance is:

  • Very low income = $36,000.00
  • Low income = $26,000.00
  • Moderate = $16,000.00

Follow the link below for detailed information including: DPA program overview, application, lender package, guidelines, etc.

Click here to go to Osceola County DPA

For more information on any of the Downpayment Assistance Programs (SHIP) throughout the Central Florida area, or if you would like direct assistance in applying for a program, please complete the form below and I will contact you shortly. Or feel free to call me, Joe Bornstein, Broker/Owner, Rock Springs Realty at toll free 877-333-2811, cell# 407-252-8092, or email at

joe@rockspringsrealty.net

Do you have a question?

Simply complete the form below and let us know how we can help.
One of our staff will get right back to you. We guarantee and respect
your privacy.

Your Information
Your Question?
Fields with an * are required

Mortgage News Daily

 
MBS RECAP: Super Flat Day... Not at all What You"d Expect
10/30/2014 3:59 PM
Posted To: MBS CommentaryIf the official end of QE is to be an inspirational moment for bond markets in the bigger picture, you wouldn't know it based on how trading has gone since then. A case is rapidly building for the news being fully priced in ahead of time and actual whipsaw effect happening a fe...Read More
 
Mortgage Rates Recover Slightly; Holding Near 4 Percent
10/30/2014 2:48 PM
Posted To: Mortgage Rate WatchMortgage rates pulled back to hold near 4 percent after rising to the highest levels in 3 weeks. After yesterday"s Fed announcement, the most common rate quotes were at risk of edging up to 4.125% for top tier borrowers. While some lenders are still in that range today, the improve...Read More
 
Affordability Has Nothing to do with Home Prices or Rates -RealtyTrac
10/30/2014 11:30 AM
Posted To: MND NewsWire"A real estate market that should be flying high is instead a real estate market that is faltering ," according to Brian Mushaney, Executive Vice President, Data Solutions, for RealtyTrac. Writing in the current issue of RealtyTrac"s Housing News Report he points to a market which he says should be...Read More
 
MBS MID-DAY: Slow, Steady Morning Sees Yesterday"s Weakness Completely Undone
10/30/2014 11:02 AM
Posted To: MBS Commentary"Jobless Claims remained in the 280's and GDP came in at 3.5 vs a 3.0 forecast. So naturally, bond markets are adding to yesterday's weakness." That sentence would be seem logical and appropriate for most any time in the history of bond markets, but as we continue...Read More
 
Rumors about Provident; e-Signature News; Lawsuit Update on PHH, Lawsky, Castle & Cooke, and S&P
10/30/2014 10:19 AM
Posted To: Pipeline PressAs mortgage bankers gear up to see what the Shipping Department dresses up as tomorrow, let"s take a quick look at some demographics. There is now a larger cohort of unmarried young adults who are driving the overall homeownership rate down as they are less likely to...Read More
 
MBS Day Ahead: Maybe GDP and Yellen can Move Markets
10/30/2014 6:29 AM
Posted To: MBS CommentaryGDP reports come in three flavors: advance, preliminary, and final. Today is the 'advance' reading for the 3rd quarter and hence the first look at Q3 GDP despite Q3 having been over for a full month. Because of its stale nature, the market impact of GDP is often questioned,...Read More
 
MBS RECAP: Fed Reads From Known Script, but With Unexpected Gusto; Bonds Don"t Care
10/29/2014 4:03 PM
Posted To: MBS CommentaryNine times out of ten, any conversation about trading volume in bond markets is pointless and dangerous when it comes to considering potential mortgage rate movement. Reason being: some people assume that low volume means a move is less valid and then potentially feel like locking ...Read More
 
Mortgage Rates at 3-Week Highs After Fed Ends QE
10/29/2014 3:36 PM
Posted To: Mortgage Rate WatchMortgage rates rose to the highest level in 3 weeks after today"s Fed Announcement. The move was a two-part process with initial rate sheets being weaker in the morning and mid-day reprices (lenders raising rates) following the Fed. The pace of the movement was moderate, leaving 4....Read More
 
Foreclosures Ticked up in September, Downward Trend Holds
10/29/2014 12:59 PM
Posted To: MND NewsWireCompleted foreclosures rose slightly in September CoreLogic said today, but the long-term trend continues to be a relatively precipitous drop from the record high numbers of the last six years. The company"s September National Foreclosure Report notes a 4.7 percent increase in the number of homes l...Read More
 
MBS MID-DAY: Bond Markets on the Ropes Ahead of FOMC Announcement
10/29/2014 11:11 AM
Posted To: MBS CommentaryMBS and Treasuries are at their weakest levels in 3 weeks ahead of this afternoon's FOMC Announcement. That's really all there is to it. We haven't had any meaningful market movers, and in fact, the only motivation has come from traders watching other traders. In that r...Read More