FLORIDA HOUSING'S FIRST TIME HOMEBUYER PROGRAM (FTHB)

The credit for the FTHB thru the Federal government might be over. But in the State of Florida this program is alive and helping families buy their first home. This program offers a 30-years fixed low interest rate mortgage loan to FTHB through a network of participating lenders. And check this out if you're not a First Time Homebuyer, you may still be able to qualify for this program if you're buying a home in a Go zone county. These are 13 counties throughout South Florida that have been designated targeted area by the Federal Government. To qualify for this program the person or persons must also, complete a 6-8 hours face to face homebuyer education program and have a minimun of 600 FICO score.

The First Mortgage Income limits: It varies according to the county you live in, examples in Collier county the current maximun household incomes is 1-2 person HH $ 84,960.00 3+ person HH is $99,120.00. Also, in collier/Naples area the current sales price limit is $ 567,364 allowing a potential buyers to purchase a house in the high end market.

This program also offer a down payment assistance in conjunction with FTHB program. The florida Housing program offer two dowm payment closing cost assistance. The Florida Assist can offer up to $ 7,500 in assistance. the second program the Homeownership Assistance For Moderate Income loan (HAMI) offer buyers up to $5,000 to assist with down payment and closing cost.