Pasco County Down Payment Assistance

By
Real Estate Mortgage Broker with Bay to Bay lending, LLC NMLS ID # 214834

Are you looking to purchase a home in Pasco County Florida and you are Short on funds to close?

Pasco Opportunity Program (POP) is a partnership between Pasco County and several not for profit agencies. These agencies buy homes, have them repaired, and make them available for sale. They already meet all the rehabilitation standards of Pasco County and FHA..

You can purchase a Single Family Home, Townhome or a Villa. The home must be in the targeted areas within Pasco County. The maximum sales price cannot exceed $240,000. You do not have to be a 1st time homebuyer or live in Pasco to utilize the program.

In order to apply for assistance, you must apply through one of the partner financial institutions that have signed agreements with the County. The financial institution will make an initial determination on whether you need and are eligible for the Pasco DPA Funds. If you do, they will reserve funds in your name with the Community Development Division. County staff will also ensure that the home meets the standards of the Pasco County Homebuyer Assistance Program Minimum Housing Standards Checklist. You must also attend a County sponsored Homebuyer class in order to receive assistance, and before you sign a contract to purchase a house.

There is a limit on how much can be lent, depending on your income level and your occupation.

The amount of assistance is adjusted for your family size, all family members are included.

If you qualify you can receive one of two different types of down payment assistance.

•1. Low Income - 50% of Sales Price Deferred for 5 Years at 0% and Closing Costs

•2. Moderate Income - $20,000 in Assistance Deferred for 5 Years at 0% and Closing Costs

You may also receive an additional $10,000 in Assistance if you are an essential service employee, which are defined as government, school board, educational, law enforcement, active military and health care employees along with retiree's on a fixed income.

You do have to put some of your own money into the purchase of the house. They do not differentiate between your down payment, closing costs, or other paid items. The amount that you will have to put down depends on your income level and the sales price of the home.

Your Minimum Investment is as follows:

•1. Low Income = $500.00

•2. Moderate Income = $1,250.00

Please click on my website http://www.mortgagestampa.org or contact me directly @ 727-376-2085 for more information or to assist you in getting started on your new home purchase. ResMac Mortgage is a Partner Financial Institution with Pasco County.

Jason R. Hands

ResMac Mortgage

8511 Memorial Highway, Suite 206

Tampa, FL 33615

727-376-2085 Direct

813-385-1109 - Mobile

866-216-6322 - Fax

http://www.mortgagestampa.org

NMLS Originator ID: 214834 FL # LO 562

Stated Income Loan program, FHA, VA, USDA, Conventional, Home Path, HUD Homes, My Community and Hard Money Financing Options Available

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Topic:
Lending / Financial
Location:
Florida Pasco County

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Jason Hands

Purchase Specialist - www.mortgagestampa.org
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