Florida Housing
Florida Housing’s First Time Homebuyer (FTHB) Program offers 30-year fixed rate FIRST mortgage loans to first-time homebuyers and qualified veterans in Florida.
This program uses income and purchase price limits to determine eligibility.
Potential borrowers must:
- Complete a Homebuyers Education Class
- Qualify for a Mortgage loan and a qualifying FICO Score
Florida Housing also offers down payment and closing cost assistance in the form of a second mortgage loan to assist eligible homebuyers with their down payment and closing costs.
Down payment assistance is only available when used in conjunction with Florida Housing’s first mortgage loan. Down payment assistance is NOT available as “stand-alone” down payment assistance. It is only available when used in conjunction with one of Florida Housing’s Homebuyer Programs.
The Mortgage Credit Certificate (MCC) Program offers eligible first-time homebuyers a nonrefundable Federal income tax credit which can be utilized with a lender’s first mortgage. The MCC reduces an eligible borrower’s Federal income taxes and, in effect, creating additional income for the borrower to use in making mortgage payments or other household expenses. Florida Housing’s Program offers a tax credit amount of up to 50%, based on the loan amount.
Contact one of our Florida Loan Officers to get started today!
Pennsylvania Housing
The Pennsylvania Housing Finance Agency (PHFA) provides affordable mortgage financing to buy a home through a variety of programs. The program that is best for you will depend on your specific circumstances, such as your credit history and amount of cash savings, as well as your individual preferences.
What they offer:
- Home purchase and refinance options
- Closing costs and down payment assistance
- Conventional, FHA, VA and RD loan types
- Competitive interest rates
- Energy efficiency and home repair loans
- Free homebuyer education
- PHFA services the loan for its full lifetime
As with many state housing programs, there are a lot of options available and you may be more qualified than you think. If you want to buy a home but don’t think you have enough money for down payment, think again because we have people buying homes using the PHFA loan programs with very little money out of pocket. To learn more about these programs reach out to a qualified loan officer today!
