First Time Homebuyer Down Payment Assistance
Are you tired of paying rent?
The biggest hurdle to buying a home for potential first time homebuyers is coming up with the downpayment. For example a FHA loan requires a downpayment of 3.5% of the sales price. This is tough to come up with. Some may be lucky enough to have that favorite aunt that can give to them. However, most of us don't have that luck.
Hillsborough County is offering a First Time Homebuyer Down Payment Assistance Program. Eligible first time homebuyers may be able to receive up to 40,000 for down payment assistance and closing costs through a federally-backed program.
How does a First Time Homebuyer qualify? Some of the First Time Homebuyer Down Payment Assistance are:
How does a First Time Homebuyer qualify?
Some of the First Time Homebuyer Down Payment Assistance are:
Interested first time homebuyer cannot have owned a home in the past 3 years
Property must be the homebuyer's primary residence and occupied for the period of the agreement
Home must be in unincorporated Hillsborough County or the cities of Plant City or Temple Terrace
Maximum purchase price of the home allowed is $185,580
Homebuyer's net assets cannot be more than $20,000. Contact Julie Nebeker for more information
First time homebuyers must complete an 8-hour homebuyer education class
Interested homebuyers will need to contact a certified lender partner to submit a request for down payment assistance (For the certified lenderpartner list, visit the website listed below and click on "FTHB Program
WHAT IS NEXT?
Contact Hillsborough County
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