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THIS AGREEMENT is entered into this day of , 2 by and between the Florida Housing Finance Corporation, a Corporation and instrumentality of the State of Florida, (hereinafter referred to as Florida Housing ), and (hereinafter referred to as the Borrower ). THIS AGREEMENT IS ENTERED INTO BASED ON THE FOLLOWING FACTS: A. WHEREAS, Section 420.5088, Fla. Stat. auth.

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Related content

Homeownership Assistance: Florida - HUD
Florida Housing Finance Corporation - call (800) 814-HOME (4663) for info on first-time...
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Fla. Admin. Code Ann. R. 67-57.001 - Purpose and...
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The Florida Assist program provides eligible borrowers with up to $10,000 in assistance on FHA, VA, USDA, and conventional loans. The assistance is provided as a deferred second mortgage with a 0% interest rate. One of the benefits of the Florida Assist program is that there are no monthly payments required.

What is the income limit for first-time homebuyers in Florida? The income limit to qualify for first-time homebuyer assistance programs varies by county and program. Generally, you should be around or below 80% of your area's median income, which is $35,216 for an individual and $61,777 for households in Florida.

Eligibility Requirements Income Level (AMI)Maximum Award Amount Low-Income Households (51-80% AMI): Up to $53,500 annual income for individual; $76,400 for family of four. $75,000 Moderate Income Households (81-120% AMI): Up to $80,280 annual income for individual; $114,600 for family of four. $50,0001 more row

Here are the Florida first-time homebuyer program requirements: Meet IRS definition of a first-time homebuyer (have not owned the home you've lived in for the past three years) Credit score of 640 or higher. Complete approved homebuyer education class. Income below limits for county where home is located.

Down Payment Assistance: Florida Programs Provides down payment loans of up to $7,500 at 0% interest for eligible borrowers, and up to $10,000 for those getting an FHA, VA or USDA mortgage.

The family must be income eligible. Income eligibility is defined in terms of area median income, adjusted for family size. Extremely low income describes a family at or below 30% of area median income. Very low income describes a family at or below 50% of area median income.

Here are the minimum down payment requirements qualified borrowers must meet for the most popular mortgage programs: Conventional loans: 3 percent. FHA loans: 3.5 percent (with a credit score of 580 or higher), 10 percent (with a credit score between 500 and 579) VA loans: No down payment if you qualify.

You can qualify for down payment assistance if you meet the Florida Housing requirements, which include not having owned the home you've lived in for the past three years. You also must have a credit score of 640 or higher, must complete an approved homebuyer education class and must work with an approved lender.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232