Panama CIty Local Home Buyer Special Financing Programs

 Unlock Homeownership with Florida's New Financing Program for First-Time Buyers

Are you dreaming of owning a home in the Sunshine State but find the financial hurdle too high to jump? Florida's latest real estate financing program is here to turn your dreams into reality. Tailored for first-time homebuyers, this program is designed to ease the financial strain of purchasing your first home. Here's everything you need to know to get started.

Who is Eligible?
The program is open to individuals who:
- Have never owned a home before (Veterans are exempted from this requirement).
- Work at least 35 hours a week.
- Hold a credit score of 640 or above.
- Are Florida residents.
- Are employed by a company with a physical (brick & mortar) presence in Florida.

Educational Component

Knowledge is power, especially when it comes to significant financial decisions. This program requires participants to complete a course on first-time homebuying, ensuring you're fully informed about the ins and outs of homeownership.

Financial Assistance Details
- Get assistance worth 5% of your loan amount, up to $35,000, with a minimum of $10,000.
- This assistance comes as a 30-year 0% interest deferred second mortgage, which means you don't pay anything on it for the life of the primary mortgage.
- The first mortgage will be a fixed-rate loan, giving you the security of consistent monthly payments.

Loan Options
You have the flexibility to choose from:
- Conventional loans for those who can make a larger down payment.
- FHA loans, perfect for those with lower credit scores or smaller down payments.
- VA loans, designed for veterans and their families.
- USDA loans, aimed at buyers in rural, less-populated areas.

What Properties Qualify?
- Single-family homes (1-4 units), so whether you're flying solo or have a family, you're covered.
- Condos/Townhomes, for those who prefer a communal living style.
- Mobile/Manufactured Homes, ensuring affordability and flexibility.

Embarking on your homebuying journey is an exciting milestone, and Florida's new real estate financing program is here to support you every step of the way. With financial assistance, educational resources, and a variety of loan options, your path to homeownership is clearer and more accessible than ever. Don't let financial barriers hold you back; explore this opportunity to plant your roots in Florida with the help of this transformative program.

Get Qualified TODAY


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