Are you looking to buy a home but struggling with the upfront costs? The Florida Bond Down Payment Assistance Program can help make homeownership a reality by providing financial support for eligible first-time homebuyers.

What is the Florida Bond Down Payment Assistance Program?

The Florida Housing Homebuyer Program offers a 30-year fixed-rate first mortgage loan to first-time homebuyers through approved lenders across the state. In addition to the primary mortgage, eligible borrowers may also qualify for down payment assistance and help with closing costs through Florida Housing’s second mortgage programs.

Who Qualifies for Florida Bond Down Payment Assistance?

To take advantage of the Florida Bond Down Payment Assistance Program, borrowers must meet certain eligibility criteria:

• Minimum Credit Score of 640 – Ensuring responsible credit management.
• Work with an Approved Program Lender – You must obtain financing through a lender participating in the program.
• Complete Approved Homebuyer Education – A required step to ensure you are prepared for homeownership.
• Meet Purchase Price and Income Limits – These limits vary by county and must be adhered to.
• First-Time Homebuyer Requirement – You must meet the IRS definition of a first-time homebuyer, meaning you have not owned and occupied a primary residence in the past three years.

How Can Down Payment Assistance Help You?

The Florida Bond Down Payment Assistance Program provides financial aid to help cover the cost of a down payment and closing expenses, reducing the financial burden on first-time buyers.

Benefits of the Program:

• Makes homeownership more accessible by reducing upfront costs.
• Offers affordable financing with a fixed interest rate.
• Helps buyers achieve homeownership sooner by bridging the affordability gap.

How to Get Started

To take advantage of this opportunity, follow these steps:

1. Check Your Eligibility – Ensure you meet the program’s credit score, income, and first-time homebuyer requirements.
2. Work with an Approved Lender – Find a participating lender who can guide you through the application process.
3. Complete Homebuyer Education – Finish a required educational course to better prepare for homeownership.
4. Apply for the Program – Work with your lender to apply for the Florida Bond Down Payment Assistance Program.

Get Expert Guidance from North Star Mortgage Network

Navigating down payment assistance programs can be overwhelming, but at North Star Mortgage Network, we’re here to help! Our team of experienced mortgage professionals can guide you through the process, ensuring you maximize your benefits under the Florida Bond Down Payment Assistance Program.

Ready to take the next step? Contact North Star Mortgage Network today to see if you qualify and begin your journey to homeownership!