Florida Housing Mortgage Revnue Bond and DPA: Update of Availabilty of Funds as of March 20, 2009

As of March 20, 2009 Florida Housing Finance Corporation (FHFC) or Florida Housingstill has in access of $14.5 million available between their 2008 Series 3 and 4 Mortgage Revenue Bond Issue for mortgage financing and down payment assistance (DPA) up to $10,000 subject to borrowers eligibility.

If you are seeking DPA funds to help make your home purchase attainable or affordable the Florida Housing program presents a higher probability of assistance when compared to local SHIP programs. Most of the local SHIP programs have already closed their application period or exhausted their available funds.

Florida Housing remains committed to the continuous availability of funds. Home prices are down and with $10,000 in assistance you may be able to complete your home purchase with very little out of pocket funds.

Although Florida Housing has been committed to continuous funding the more recent bond issues have been increasingly difficult to get negotiated.

Also, homebuyers wanting to take advantage of this resource should know about of the more recent changes to the program.

Firstly, home buyers wanting to use this program and be eligible for assistance must complete a home buyer education program and receive a completion certificate prior to negotiating any purchase contract and receiving a rreservation of funds.

Secondly, home buyers are now eligible to receive the newly enacted $8000 tax credit. Previously, they were ineligible for the $15,000. tax credit.

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