2016 FHA Orange County Florida First Time Homebuyer Down Payment Assistance Bond Program
- The program is offered to all borrowers in Orange County Florida who meet income, purchase price and other program guidelines, and can otherwise qualify for a loan.
- Maximum Purchase price $268,875
- The assistance comes in the form $15,000. Grant forgiven at a rate of 20% per year or 5 years to completely forgive the entire amount.
- Maximum Household Income for Orange County Florida included all people in household 18 years and older. 1 or more in household people = $81,600
- First Time Homebuyers or Borrowers or Spouse have not owned a home in the last 3 years.
- Receive up to $15,000 in Florida bond money with no monthly payment required.
- Minimum 640 FICO credit score to qualify
- Can purchase new or resale homes
- No Bankruptcies in last 2 years and no foreclosure last 3 years
- Primary Residences only
- No cash back at closing, any excess funds will be used to pay down first mortgage
- Income must be supported by paystubs and 2 year history of continuous employment.
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