New Updated 2014 First Time Home Buyer Programs Available to Florida Residents

Orlando, Florida (PRWEB) September 16, 2014

These new programs allow those who haven't owned a home in the last 3 years to receive up to $10,000 in a 0% interest free, 2nd down payment assistance mortgage loan. This program, as well as other state and federal programs, are listed on their private website. The $10,000 does not have to be paid back until you sell or move out of the property. The down payment assistance 2nd mortgage loan is a 0% interest loan. There are no monthly payments paid by the Borrower. The money is paid back when you sell or refinance the home.

There are three versions of the program. The first program is the FHA Bond Program for FHA qualified Borrowers. The second program is for Conventional Borrowers. The third program is also for Conventional Florida First Time Home Buyers, but allows a higher buyer income limit.

The minimum middle credit score requirement is approximately 640 for all of the programs, but higher credit scores strengthen the likelihood of loan approval.

New 2014 – Florida First Time Home Buyers programs

2014 FHA Florida Housing First Time Homebuyer (FTHB) Bond Program

   •  30-year, fixed-rate first mortgage loans originated by trained and approved lenders throughout the State of Florida. The program is offered to all borrowers who meet income, purchase price and other program guidelines, and can otherwise qualify for a loan. Borrowers who qualify for this first mortgage program are automatically qualified for one of Florida Housing's down payment assistance programs(http://floridafirsttimehomebuyer.info/).
   •  The assistance comes in the form of a 0% interest or low, fixed-rate second mortgage. Only one Florida Housing down payment program can be used by the borrower and only in conjunction with the FTHB program first mortgage products. Learn more: http://floridafirsttimehomebuyer.info 2014 Conventional Preferred Down Payment Assistance Program for Florida First Time Home Buyers

   •  30-year, fixed-rate first mortgage loans originated by trained and approved lenders throughout the State of Florida. The program is offered to all Florida borrowers who meet income, purchase price and other program guidelines, and can otherwise qualify for a loan. Borrowers who qualify for this first mortgage program are automatically qualified for one of Florida Housing's down payment assistance programs.
   •  $10,000 Florida Down Payment Assistance (http://floridafirsttimehomebuyer.info/) can be used for down payment, Buyers mortgage closing costs, or split mortgage insurance premium to lower mortgage insurance cost Learn more: http://floridafirsttimehomebuyer.info 2014 Conventional Preferred Plus for Florida First Time Home Buyers
   •  First Time Home Buyer or haven't owned a property for at least 3 years
   •  $10,000 Florida Down Payment Assistance (http://floridafirsttimehomebuyer.info/) can be used for down payment, Buyers mortgage closing costs, or split mortgage insurance premium to lower mortgage insurance cost Learn more: http://floridafirsttimehomebuyer.info
These Florida Mortgage First Time Home Buyer loans can only be originated and underwritten by Approved Florida Lenders, who are also originating the primary 1st mortgage loan. Per lending guide lines, the 1st Mortgage and the 2nd Mortgage (Grants or 0% interest loans) cannot be separated between 2 Lenders. NO Exceptions.

Call Roger Lazzarino, a licensed Real Estate Broker for details–

Direct phone for Orange, Seminole & Lake counties: 407-801-2950
All other Florida counties 305-570-7529.

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