Using the $8000 tax credit as down payment in Lake County Florida-update

To sum it up, the program will not be available in Lake County until early August at best. Applications cannot be accepted until that time. If you have buyers anticipating the need for these funds, now is the time to have them begin working with your lender to ensure they are ready to submit their application as soon as allowed.

There is only $402,343 allocated to Lake County. Assuming we get only 1 use per family at $8000 per family that means we will be able to help only 50 families. If you have a buyer that needs this program they are well advised to act quickly.

Do note a maximum purchase price of $247,387 does apply. Much more information is available at this link. If you have any specific questions, you know where to call.

Gerry Suarez, Jr.

Your FHA Loan Pro!