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Sharee Charboneau, BROKER
        Veterans United Realty                                                                               10175 Fortune Parkway Suite 1103
         Jacksonville, FL 32256

Cell 904-465-0879
Office 904-363-0060
Contact Me today for all your Real Estate Needs

 
 

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Florida First Time Homebuyer Program

What is the Florida Housing First Time Homebuyer Program?

The information contained on this site is for informational purposes only. In order to determine if you qualify for our Program and to determine the correct Program income and Purchase Price Limits, please contact an approved lender in your area from the Lender List below. Our approved loan officers can also assist you with any questions you may have specific to your credit history. Florida Housing’s First Time Homebuyer (FTHB) Program offers 30-year fixed rate FIRST mortgage loans to first time homebuyers through participating lenders and lending institutions throughout the State of Florida. Eligible borrowers may also participate in one of Florida Housing’s second mortgage programs to assist borrowers with down payment assistance and closing costs.

If you are not a first time homebuyer, you may still be eligible to participate if you are purchasing a home in a federally designated targeted area or if you are a qualified Veteran.

The First Time Homebuyer Program uses income and purchase price limits to determine eligibility. Additionally, potential borrowers must:

  • Complete a Homebuyer Education Class
  • Qualify for a Mortgage Loan and have a qualifying FICO Score.


 

First Mortgage Programs

   
 
Programs Current Rate Details
Florida First (FHA, VA, RD Only) 4.7500% All buyers who qualify for a bond loan qualify for this 30 year, fixed rate product that may be used with Florida Housing's down payment and closing cost assistance second mortgage (Florida Assist).
Florida Military Heroes (FHA, VA, RD Only) 4.5000% This 30 year, fixed first mortgage loan program is designed to help both veterans and active duty military personnel with obtaining affordable housing. Florida Housing generally offers a pool for these loans at a lower interest rate for the purpose of assisting this special target group. This loan product may be used with Florida Housing's down payment and closing cost assistance second mortgage (Florida Assist).
FL HFA Preferred Conventional Loan Program 4.7500% All first time homebuyers who qualify for this 30 year, fixed rate first mortgage program also qualify for Florida Housing's down payment and closing cost assistance second mortgage (Florida Assist).

 

Income Limits

You indicated that there will be 1 persons living in your home. Based on this information, your program qualifying income to purchase a home in DuvalCounty may not exceed $70,278.00, if purchasing in a non-target area, or $77,280.00 in a targeted area.

Purchase Price Limit

The First Time Homebuyer Program established a maximum purchase price which varies by county for homes purchased through this Program. The home you want to purchase may not exceed $303,882.00 in Duval county. However, if you are purchasing a home in a federally designated target area, the purchase price may be as high as $371,411.00. Check with your Program approved lender to verify the correct limits for the type of Program first mortgage you are utilizing as limits vary.

Down Payment Assistance (DPA)

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. 
 

 

Hardest Hit Fund (HHF) Down Payment Assistance (DPA) Program
Borrowers purchasing in the county selected may also be eligible to receive down payment and closing cost assistance through the HHF DPA Second Mortgage Program. The HHF DPA Second Mortgage Program offers the following:

 

  • Up to $15,000.
  • 0% interest.
  • 5-year term.
The HHF DPA Second Mortgage is forgivable at the rate of 20% per year over the five-year term of the loan provided the borrower is not in default.
 

Homebuyer Education (HBE) and Counseling

Florida Housing requires the completion of a homebuyer education course.  Face-to-face HBE is preferred if provided by a HUD approved counseling agency or a unit of local government that provides pre-purchase homebuyer education in Florida. Refer to www.hud.gov for a list of approved education providers by county.  Online HBE is also permitted if provided by a HUD approved agency, a unit of local government that provides pre-purchase homebuyer education in Florida, a mortgage insurance provider, or an Agency or GSE sponsored course.



Sharee Charboneau | Direct904-465-0879
10175 Fortune Parkway, Suite 1103 - Jacksonville, FL 32256  Office (904)363-0060
Copyright © 2017, All Rights Reserved

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Disclosure Veterans United Realty is not affiliated with any government agencies, including the VA. We may share customer information with our trusted affiliates to assist you with your home search. Missouri Licensed Real Estate Brokerage.

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