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The Housing Finance Division offers Home Buyer Purchase Assistance to qualified home buyers. Assistance is in the form of a deferred payment second mortgage at 0% interest, 15-year term. Funds are available on a first-come, first qualified, first served basis. Assistance may be used for closing costs, down payment, loan and rate reductions, etc.
Down payment assistance programs and/or grants were researched by the team at FHA.com. Please note that all programs listed on this website may involve a second mortgage with payments that are forgiven, deferred, or subsidized in some manner until resale of the mortgaged property. Typically, first time home buyers must put at least 5% down. You may be able to get away with putting as little as 3% down. Especially if you accept certain mortgage insurance programs. If you are looking for zero down payment in Florida, check out the FHA loan program.
Individual Development Account (I.D.A.) Program
As an independent organization, they have no affiliation with any specific lender or bank. Their aim is to provide sound advice and guidance to qualified applicants. Especially who would like to become homeowners within Broward County. A First Time Homebuyer program is a program that provides financial assistance to people who need help buying a primary residence, usually their first house.
The only online education providers are listed above. We are committed to strengthening the family unit by promoting economic self-sufficiency. Through training, career building and job placement services, we help equip individuals with tools needed to enter or re-enter the workforce. Our Center for Working Families offers a full range of essential economic resources for low-income residents to help them succeed in the workforce, stabilize their finances and build assets.
Served Annually
This program lets buyers get a single loan with just one closing. PLEASE NOTE, if you plan on purchasing in any city not listed above, please contact that particular city directly to inquire about any program they may offer for Purchase Assistance. The buyer must contribute three percent (3%) of the purchase price, of which one percent (1%) must come from the buyer's own funds and not be a gift or concession. Complete the 4-hour CreditSmart Homebuyer U Online Course and receive a certificate of completion.-The course is "self-paced" (sign in/out as often as needed to complete the course).
If you think you qualify for the program based upon the criteria above, contact a participating loan officer to get pre-approved for a mortgage. After you are income certified and a closing disclosure is prepared by the lender and closing agent, City of Hollywood wire transfers funds to your title company. Once City of Hollywood confirms property eligibility, the lender submits a hard copy, paper package after which Broward County will contact you for an income certification appointment.
What Properties Are Eligible?
Clickhereto view the map and enter the property address. If the property is within the blue shaded area the location is eligible. An individual who has only owned a primary residence not permanently affixed to a permanent foundation. ● and Census tract specific/Teacher next door programs. ● Grants that work with FHA/Conventional/VA and USDA type loans.
Homeownership Counseling and Foreclosure Prevention provides comprehensive housing counseling for first-time homebuyers and individuals facing foreclosure. Debt reduction counseling and monthly workshops that are required prior to purchasing a home are provided as well as grant/loan application assistance. Our First-Time Homebuyer Workshop helps qualified low and moderate-income residents in Broward County realize the dream of homeownership. In order to receive assistance via the Homebuyer Purchase Assistance Program, all applicants must fall within certain eligibility criteria. The program is only available to first-time homebuyers with an annual household income that falls below 80 percent of the area median income. Borrowers are also required to attend and complete a HUD Counseling seminar prior to submitting an application.
Home Ownership Program
We encourage users to contact their lawyers, credit counselors, lenders, and housing counselors. The program provides down payment and closing costs assistance to income-eligible applicants in the form of a zero-interest, deferred second mortgage, with the maximum loan amount being $7,500. This can be used in conjunction with the program’s 4 percent first mortgage exclusively.
So that can be shared with their lender or other third-party financial institution in an effort to increase the chances of second mortgage broker approval. First Time Homebuyer Workshop is an 8 hour course held on the 2nd Saturday of each month. FTHW provides information on the steps to homeownership including budgeting & credit, predatory lending, the lending process, searching and maintaining the home. Visit the Urban League'sevent calendar here to register. The Housing Finance Authority of Hillsborough County offers homebuyers the Home Sweet Home Hillsborough Program that helps applicants overcome the hurdle of expensive down payments. The Housing Finance Authority of Pinellas County’s First-time Homebuyer Program is designed to help potential borrowers purchase the home of their dreams.
The Broward League of Cities, and local community groups and associations. The program requires that the purchaser complete a Home Buyer Education class provided by a local HUD approved Counseling Agency within 12 months of closing. Review the list of HUD approved housing counserlors herein Broward County. Health and safety repairs may include wind mitigation and hurricane hardening unrelated to accessibility and barrier removal.
Those are used as incentives at closing to offset some of the initial costs of buying your first home. We are dedicated to building thriving communities through strong economic infrastructure. Our housing programs offer families long-term, sustainable solutions that focus on building assets through savings and homeownership. Our wealth accumulation services include financial literacy education, budgeting, credit counseling, homeownership, foreclosure prevention, and loan modification.
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